All things considered Kyber Network has had a great two weeks!

A few things in particular standout.

Dr. Loi Luu, the CEO of Kyber Network, spoke at two important blockchain conferences, Boao Forum for Asia in southern China and Beyond Blocks in Tokyo. The Boao Forum, attended by world renowned business leaders and heads of state, was a particularly powerful place for Loi to speak about Kyber Network’s goal to interconnect the blockchain ecosystem. Beyond Blocks was a wonderful event that brought Kyber Network further into the thriving Japanese blockchain scene.

Tech In Asia wrote a phenomenal piece on Loi and his plans for Kyber Network. We strongly suggest that our readers take a look at the full article. It tells the compelling story of Loi’s discovery of blockchain entrepreneurship, and also provides necessary analysis of the complexities of decentralized exchanges.

Kyber Network starts listing the DAI stablecoin on Monday, April 16th! We expect the introduction of stablecoins to our platform to be a significant step towards making Kyber Network, and the entire crypto-space, more reliable, more widely used, and more accessible.

Finally, as usual our development team has been hard at work. They have made some significant improvement to our exchange, reserve, smart contract, and statistic server. More detailed information about technical development can be found below.

Our thanks go out to the Kyber community for your constant support and encouragement. We hope to continue making you proud!

Technical development

Exchange

We have made a few minor but important changes to our exchange. First of all, we have continued fixing small bugs to improve the stability and performance of the platform. We removed the browser check on our web3 version in order to improve ease of integration with third party wallets. We added a popup function that takes our users to the Know Your Customer (KYC) program when their daily trading limit has been reached. Finally, we prepared the exchange to support DAI token.

What was done in the last two weeks:

Fixed bugs to improve stability and performance

Removed browser check in web3 version

Added KYC popup for when users reach daily trading limit

Prepared exchange to support DAI token

Reserve

In terms of our reserve, we started implementing an improved inventory rebalance algorithm. We completed the first design of an algorithm to manage low liquidity tokens that are not traded on centralized exchanges. We continued to work on the challenge of handling centralized exchange failures, developing functions that allow us to fall back onto other exchanges when malfunctions occur. Finally, we developed our reserve to support our newest tokens!

What was done in the last two weeks:

Started implementing improved inventory rebalance algorithm

Completed first design of low liquidity algorithm

Continued to work on the challenge of centralized exchange failure

Developed support for new tokens

Smart contract

We have been working on our low liquidity token pricing smart contract. This last week we finalized our first implementation of an exponent function. Additionally, we automated the burn fees script.

What was done in the last two weeks:

Worked on low liquidity token pricing

Finalized first implementation of exponent function

Automated script to burn fees once a week

Statistic server

We took some productive steps with regards to our statistics server. We fixed numerous server errors to ensure that we will not miss any tradelogs. We significantly improved our server’s log aggregation performance. We refactored the codebase relating to blockchain interaction. Finally, we started supporting more graphical data surrounding timezone, heatmap, trade summary, and wallet trade summary.

What was done in the last two weeks:

Fixed numerous server errors to prevent missing tradelogs

Improved log aggregation performance

Refactored blockchain interaction codebase

Started supporting more graphical data

Community and Listing

We cannot stress enough the importance of community building, especially with regards to blockchain, a movement that so heavily depends on collective innovation. The astounding technical developments that we have achieved over the last five years were only made possible by the global network of blockchain developers, who diligently promoted the ideals of open-source collaboration.

We are proud to say that Dr. Loi Luu, the CEO of Kyber Network, has been a committed member of these communities of collaboration for years. He regularly travels around the world sharing insight from his experience building a blockchain company and helping to guide new projects. Most recently, Loi spoke at conferences in China and Japan.

Bo’ao

Last week, Loi spoke at the Bo’ao Forum for Asia, an annual global summit in south China, attended by heads of state, business leaders and academics from across the world. A central topic of this year’s summit was the future of blockchain and business. Many large Asia conglomerates, such as South Korea’s Hanwha, are seeking to incorporate blockchain technology into facets of their business, and so they are looking towards experts such as Loi for advice.

Conferences such as these that focus specifically on the intersection between business and blockchain are ideal spaces for Kyber Network to showcase its service, as we are striving to become the platform that connects the blockchain economic ecosystem. We are confident that valuable connections were created through Loi’s presence at Boao, and we want to thank all parties that made this forum possible.

Beyond Blocks

Just a few days prior to the Boao Forum, Loi sat on a panel at Beyond Blocks, the Tokyo based blockchain summit. This multi-day conference brought together new and veteran blockchain enthusiasts, creating opportunity for them to collaborate, showcase, and network. This truly global platform was attended by over 1000 people from 30 different countries.

Loi spoke on a panel about decentralized exchanges (DEX), focussing specifically on the potential of DEX to interconnect the blockchain economic ecosystem. His expertise is particularly impactful in Tokyo right now, as the Japanese blockchain scene is rapidly growing. In fact, many people have called Japan the ‘New Heart’ of blockchain.

A shout out to all of our Kyber community members in Japan! We look forward to supporting the growth and development of Japan’s blockchain scene.

Tech In Asia

On the note of community building, Tech In Asia, one of Asia’s most popular tech community platforms, recently published an article on Loi and his vision for Kyber Network.

This piece starts with a hilarious hypothetical that illustrates the challenges of a future without Kyber Network. In this frankly frustrating future everyone buys their Big Mac with McCoins, their iphone with iCoins, and their Grabtaxi with GrabCoins. Without any integrated conversion network, “messy digital feudalism” prevails and every company interacts with only their individual currency.

Fortunately, as the article says, Kyber Network is the key to combating this challenge. We are creating a simple-to-use and completely decentralized exchange (DEX) that lives entirely on the blockchain. This exchange will be the foundation for an instant token conversion network that can be integrated into decentralized applications, allowing customers to purchase using any currency while businesses receive payments in their desired currencies.

Obviously, the process of building this conversation network is far from easy, especially because Kyber Network is resolutely maintaining its principles of complete decentralization and transparency. Fortunately, this commitment to decentralization is what makes Kyber Network impervious to hackers.

The article goes on to outline some of the challenges and opportunities that DEX like Kyber Network face. We strongly suggest that our readers check out the full article, link below, as it gives a detailed analysis of DEX and their potential within the crypto-space.

Thank you to Tech In Asia and Terence Lee for the well-written and insightful piece!

https://www.techinasia.com/kyber-network-singapore-loi-luu-blockchain

Listing

Kyber Network is listing the DAI stablecoin on the exchange starting Monday April 16th!

As we are all aware the volatility of the crypto market is a constant source of both anxiety and optimism. Those of us who have been trading cryptocurrencies for a while have grown used to daily price fluctuations that send your heart into your throat. However, to the layperson this instability is frankly terrifying, and is oftentimes the reason they shy away from venturing into the crypto-space.

Fortunately, there is a solution; stablecoins. Stablecoins are cryptocurrencies that are pegged to stable fiat assets, such as the U.S. Dollar or gold. Stablecoins provide the stability that comes with established fiat currencies, while also providing the transparency and decentralization that comes with blockchain technology. These currencies are the key to blockchain mainstream adoption as the provide the stability necessary to help businesses and people transition towards the crypto-economy and away from the fiat.

DAI is a trustless, transparent, and decentralized stablecoin that is collateral-backed and soft-pegged to the price of one U.S. dollar. It is sold and controlled by Maker, whose smart contract is fully inspectable on the Ethereum blockchain. Maker created DAI with the express purpose of promoting blockchain mainstream adoption. They believe that stablecoins are the best currencies for direct payments and collateral provision, and so they created a coin that is perfect for both.

We expect that listing DAI will be a significant step towards making our platform and the entire crypto-space more reliable, more widely used, and more accessible.

Hiring

Product Manager

Our product manager will articulate the specific scope of a product that we offer at Kyber to a wide variety of audiences, including why a product is important and how it should be delivered. This includes identifying potential products; conducting market research; generating product requirements; determining specifications, production timetables, pricing, and time-integrated plans for product introduction; and developing marketing strategies.

See job description here.