Daonomic is a project that specializes in launching different types of token sales, managing token issuance, and migrating real-life assets to the blockchain. We are happy to announce their integration with Kyber Network to provide users the option to participate in these token sales using a wide range of tokens. This integration demonstrates our liquidity protocol’s natural fit into such token sale platforms to benefit both the projects and the users.

At Kyber, we are focused on allowing any token to be used anywhere. Our liquidity protocol serves a very wide range of platforms and applications, from wallets, financials DApps, to games and other unique applications. Over the last two years we’ve also seen an explosion of token issuance events with hundreds of teams creating and issuing tokens.

Token sales play an important role in the crypto space and Daonomic will be the first of a new class of integrations with Kyber that will help make the token sale experience more seamless. We believe that this has the potential to facilitate token sales in a way that creates a fair, transparent and widely-distributed token economy. Within this context, we have decided to discontinue KyberGO, and we will explain this in detail further below.

What is Daonomic?

Daonomic is an automated solution to launch and manage utility and security token sales (STO). Unlike typical providers, Daonomic offers a self-service tokenization toolkit that allows token teams to create a token and start a token sale, without requiring any coding, technical expertise, or blockchain experience. Their simple web interface template provides easy navigation and offers standard pre-engineered models with automatically generated smart contracts. There is also a built-in KYC engine that supports both open-source self-hosted and 3rd party-integrated verification services. Other key features provided by Daonomic include broker dealer services and real-time token emission after payment.

Daonomic has already been used by close to 20 projects, including:

What is Daonomic using Kyber for?

Daonomic has integrated Kyber to expand available payment methods for investors. Token issuers using Daonomic’s platform and software can easily add the feature to offer ERC20 payments during their token sale, allowing the investor to seamlessly pay with any ERC20 token supported by Kyber. The Kyber integration is already live, and there are projects in the pipeline that will be utilizing it for their token sales. More information can be found on the Daonomic website soon.

Below are examples of how the ERC20 token payment feature will look to Token issuers and investors.

When an issuer creates token:

Watch this video of how a project can create a new token and launch a sale, as well as allowing users to pay with ERC20 tokens.

When an investor purchases tokens:

Watch this video of how a user contributes to a token sale using ERC20 tokens.

Any token sale or issuance platform can integrate Kyber’s payment technology (natively or as a widget), effectively allowing their users to participate in token sales using different ERC20 tokens, yet receiving payment in its preferred token. For instance, token issuers can now receive payment not just in ETH, but also in stablecoins such as DAI or TUSD.

Discontinuing KyberGO To Focus On Growing The Broader Ecosystem

The Daonomic integration will be the maiden example of how Kyber’s decentralized token swap technology can be used to facilitate token sales and token issuance across all platforms.

Previously, we had introduced KyberGO to facilitate fair, transparent and widely-distributed token sales. KyberGO was a token sale hosting platform that provided a secure and convenient place for individuals to contribute to ICOs using different ERC20 tokens. Over the past months, we have come to understand that while KyberGO was a great idea worth pursuing, working with existing token sale platforms to implement KyberGO’s key features is better in terms of outreach, execution and helping us focus on protocol development, while driving even greater protocol adoption.

As such, we have decided to stop development of KyberGO, and instead focus on allowing our liquidity protocol to be used by the entire ecosystem for token sale contributions.

The integration with Daonomic is just the first step in creating a new standard for fundraising involving digital assets. Moving forward, we plan to focus primarily on bringing the best liquidity protocol experience to everyone. Beyond just increasing adoption of Kyber’s protocol and payment technology for token sales, we also want to commit efforts towards our developer ecosystem, opening up our reserves and implementing cross-chain support. We are very excited to see how Kyber will be used by different platforms to facilitate a wide variety of token use cases.

About Kyber Network

Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Using this protocol, developers can build innovative payment flows and applications, including instant token swap services, ERC20 payments, and financial DApps — helping to build a world where any token is usable anywhere.

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