KyberDAO: Staking and Voting Overview
KyberDAO considerations, KNC staking, voting, and claiming rewards
A very big welcome to the many new members that have joined our community over the past few weeks! This is a follow up on the previous Katalyst post, where we elaborated on our plans to upgrade the protocol to further drive our objective of becoming the single liquidity endpoint for DeFi.
In this post, we will do a quick progress update, then jump right into understanding some of the key design principles and mechanisms of the KyberDAO, including details on how staking, voting, and delegation works. For those who wish to take a deeper dive into the technical details, they can refer to our Beta staking documentation.Quick Progress Update
Our ongoing work to grow decentralized liquidity over the last few months is documented here in a comprehensive ecosystem report.
More recently, during the period of extremely volatile market conditions in both the macro and DeFi spaces, Kyber managed to maintain strong liquidity throughout (due to our robust system and diversity of reserves), while setting record volumes ($33.7M in 24H, ~$200M in a month) despite the overall market downturn. We view our role as the liquidity endpoint for DeFi seriously, and while we are happy that we passed this test, we will continue to strengthen our tech robustness, liquidity depth, and diversity of reserves.
On the Katalyst front, we have started a new channel for governance and community discussions on our official Discord server and created a KyberDAO twitter account for governance-related updates. We have also successfully deployed Katalyst on the testnet and all critical functions are working as intended in this test environment.
Security is our utmost priority, and we are currently undergoing a series of comprehensive smart contract audits for both the KyberDAO as well as a set of crucial new features, including reserve routing,...