It has been an eventful month for Kyber Network, actually an eventful month for decentralized exchanges in general. It seems 2018 is definitely going to be the year of the DEX. Along with other exchanges like IDEX and the Waves platform, Kyber Network has quickly risen to the top in the race to solve the security issues, anonymity, ownership, and fees that come with trading on a centralized exchange.
Following their Mainnet launch earlier in the month and the addition of 4 new coins last week, the Kyber team have announced their new rewards campaign. The campaigns mission is to encourage new users to join the exchange and reward regular engagement.
The campaign will dish out rewards to all users who complete 2 simple task.
First Transfer
Effective period: 3pm (GMT+8) March 1st to 3pm (GMT+8) March 15th.
This is a two-part task that will offer a rewards for each part.
Part 1: To show our appreciation for users who access the exchange service, we will be rewarding 2 KNC to all users (both KGT and whitelisted address) who have completed a successful transaction on Kyber Network.
Part 2: To encourage users to undergo KYC check to be able to trade with higher limit, we will be paying out a one time reward of 3 KNC to all users who submit their personal information to the KYC program.
Usage of the Exchange
Effective period: 3pm (GMT+8) March 1st to 3pm (GMT+8) March 15th.
To encourage users to conduct trading activity on the exchange, we will be rewarding 20 KNC to users who complete a cumulative 20 ETH worth of transactions during the 15 days of the rewards program. Users who complete an additional 20 ETH worth of transactions on top of the original 20 ETH worth, will receive a second 20 KNC reward.
If you have yet to whitelist your ETH address, you may do so here. Remember to perform it before 3pm (GMT+8) March 1, 2018, before it closes.
The campaign will run through March 15th and all reward payouts will distributed by April 2018.Kyber Network states this reward campaign is only the beginning as the team is working on long term reward and referral programs.
Updates to The Exchange
In addition to the reward campaign, Kyber Network have announced a changes and updates regarding the platform.
- Singaporean residents will no longer be excluded and can now access and sign up for an account.
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As of now, Kyber Network enforces trading limits on its users. ($3,000 per transaction, with a maximum US$15,000 daily trading limit) If you wish to trade beyond the standard limits you now have the option to through their KYC check. If your submission is approved, your limit will be adjusted and subsequent trading limits (US$6,000 per transaction, US$50,000 daily trading limit) will be applied.
- Working with Prycto. Prycto is the first fully operational independent reserve, providing liquidity for decentralized exchanges.
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