KyberNetwork is a decentralized token exchange that allows instant conversion of crypto-assets with guaranteed liquidity, through the use of reserve entities.

For more information on the Kyber Network, read “Kyber Network simple explanation”

KyberNetwork is currently based on Ethereum’s blockchain, but having a partnership with ICON enables them to reach the ability to support cross-chain transactions (given that ICON [ICX] is a cryptocurrency that enables the interoperability between different blockchains).

The main goal of this partnership is to allow decentralized applications to use resources and tools from several different blockchain projects, thus allowing for more advanced and more complex applications to be built on top of this.

It’s important to understand this because ICON needs KyberNetwork in order to facilitate the exchange of tokens between the different blockchains in order to easily allow the developers to use and include the different blockchains in their development process for whichever system/project they are coding.