Letter From The CEO

Dear Kyberians,

As we shuttle ever forward in our progress and momentum, it is important that we take a deep breath from time to time; take stock. This letter to the community is a chance for us to look back on all we have achieved, reflect on our values as well as the myriad changes that have taken place in the world of cryptocurrencies, and chart a bold, new vision for the future.

It felt like just yesterday that we launched our token sale, successfully raising $52M USD in just over a day. Since then, we have gone full steam ahead with building our product and developing partnerships. We have collaborated with some of the biggest names in the crypto space, including imToken, ICON, Request Network, WAX, GIFTO, and most recently, MyEtherWallet. Our token has also been listed on major exchanges like Huobi, Kucoin, Binance, and Bithumb. In the process, we have gained many new users and learnt so much from the other teams, allowing us to refine our token conversion services to better suit our clients’ needs. We plotted an ambitious roadmap from the get-go and I am proud to say that we have achieved every single one of those product milestones thus far — and on time. As of today, Kyber Network’s decentralized exchange is fully deployed on the Ethereum blockchain. Considering that we were only hatched in late 2017, we are immensely thrilled to be one of the few blockchain companies to have already achieved mainnet status.

And so, having delivered on our promises up to now, what is next? First of all, we will continue to upgrade our decentralized exchange, adding new UI/UX features in June 2018 as well as many more token pairs for greater trading options. Secondly, we will be expanding our suite of backend integration services. Our state-of-the-art token conversion protocol will be offered more widely to Dapps, wallets, and payment gateways. This is part of our bid to become a comprehensive, integrated solutions provider. If we are to truly adhere to our dream of enhancing cryptocurrency adoption, we need to do more than just provide a decentralized exchange for people to trade on — we have to help other blockchain actors (Dapps, wallets, payment gateways) reach out to as many mainstream users as possible. The ubiquity of our protocol in various projects will reduce redundancies, enable greater cooperation, and greatly increase the public’s ease of access to cryptocurrencies.

Finally, we will be offering a brand new service known as the Initial Exchange Offering (IEO). For the first time ever on a decentralized platform, Kyber Network will facilitate ICOs for both businesses and end-users. This means that companies can streamline their fundraising processes by offering their token sales on Kyber Network’s platform, which already has a database of existing, verified users. Cumbersome KYC checks and audits will thus be eliminated. End-users will benefit from having access to all ICOs on the platform without having to repeatedly register for KYC. Further, they will be able to contribute in the token of their choice, with our conversion mechanism taking care of the rest — no stress, no mess. Participating in ICOs will never be easier.

In view of these additional services that support our core function as a decentralized exchange, I would like to announce that Kyber Network will be undergoing a rebranding that will formally take place in June 2018. This is not a decision we have taken frivolously; my team and I have examined the various factors and have concluded that a rebranding will help us position ourselves more prominently in the industry and launch our upcoming services most effectively. We hope you are as excited about this evolution as we are and we can’t wait to unveil our new brand to you shortly. For more information, please visit our newly updated website.

Thank you, dear community, for being with us on this ride. None of this would have been possible without you.

Onwards and upwards,

Loi Luu