Poking around my emails after returning from work today, a Coinbase Earn notification came through. It was offering $6.00 in Kyber for watching a few short videos.
For about ten minutes or less of my time, I figured I'm on it! I wasn't doing anything but putting my feet up anyway.
With an few extra tokens in my wallet, I might as well write a bit about Kyber. It'll help me remember it all better as well.
What Is Kyber?
Kyber is an Ethereum based token who's function is to make exchanges between other Ethereum tokens very easy.
Instead of having to make one or more exchanges to pay a vendor with the coin they want, just use Kyber. Kyber searches through several exchanges, finds the best rate, and sends the funds to the vendor.
What's cool about it is that the payer sends Kyber and the vendor receives whichever coin they desire. Kyber does the exchange in the process.
Staking Kyber
It is possible to stake Kyber via Kyber.org which allows users to participate in the DAO (Decentralized Autonomous Organization).
After staking their Kyber Network Crystal (or KNC), hodlers can vote on proposals or delegate their voting authority. Rewards are paid out in Ethereum and typically in two week periods. Hodl and stake more Kyber to earn more ETH.
Kyber - AKA The Liquidity Token
Coinbase Earn explains in its third Kyber video why it's called the Liquidity Token. Due to the fact that so many different services run on ETH, Kyber can facilitate exchange between a great number of clients.
From exchanges to wallets to apps, Kyber speeds up the payment process. It's not only individuals who enjoy an ease of token exchange.
All types of other Ethereum based protocols benefit from it as well. Part of liquidity is the ease in receiving a token as much as it is in the sending.
And there's no link to earn more Kyber by getting others to sign up, so I won't drop one here. 😁😁
Hope you enjoyed and maybe learned a little from the read, and as always...
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