Kyber Network Crystal Legacy KNCL: Kyber v.3.0 Release

Open in appGet startedKyber 3.0: Architecture Revamp, Dynamic MM, and KNC Migration ProposalKyber NetworkJan 21 · 12 min readOver the last year, DeFi has been evolving at a rapid pace, and we had previously addressed the key architectural constraints and challenges we had in responding to these changes in a post last October.In this post, we will explain how we intend to remove past limitations to growth (e.g. high gas consumption, partially-permissioned model) to allow Kyber to quickly adapt to DeFi trends and foster future innovation, while providing a host of new benefits to liquidity providers, takers, developers, and KNC holders.Firstly, we are embarking on the Kyber 3.0 upgrade, which will transition Kyber from a single protocol into a hub of purpose-driven liquidity protocols that are catered to different DeFi use cases. This will be the biggest change to Kyber’s architecture and token model since its inception and will be implemented over 2 phases — Katana and Kaizen.Secondly, as the first major addition to our new network, we will launch a brand new liquidity protocol called the Kyber DMM — DeFi’s first automated Dynamic Market Maker. Kyber DMM will provide important benefits to liquidity providers, allowing fully permissionless liquidity contribution from anyone and access to this liquidity by any taker (e.g. Dapp, aggregators, end users).