Kyber Network is pleased to announce a partnership with Enigma to reinforce both companies’ commitment to help others realize the full potential of a decentralized economy. Enigma seeks to enable the scalability of blockchains by providing a complementary off-chain data network, where larger quantities of information can be securely shared and processed without incurring severe on-chain costs.

Earlier this week, Kyber Network issued a progress report which detailed a timeline that the team will comply to. Kyber Network has stated that it is still on track to its mainnet launch in February next year, and will create an ecosystem of partnerships to support the platform.

As a start, the partnership between the two companies will center around Catalyst, Enigma’s first product. Primarily, Catalyst will be used to support reserve operators on Kyber Network, while Kyber Network will integrate with Catalyst as a data provider and as an exchange service. In the longer term, both companies will work towards their shared vision for the decentralization of crypto-asset exchange and the expansion of blockchains through numerous other potential initiatives.

When asked about the collaboration, Kyber Network CEO Loi Luu commented “our partnership with Enigma solidifies our aspiration to be the leader in the crypto-asset exchange sector. With Enigma’s vision, their deep understanding of blockchain technology and the power of Catalyst, this collaboration is expected to spark innovation and additional research into the intricacies of trading behavior. In so doing, we hope that our efforts can close the gap between data demand and supply, and empower effective and efficient use of data.”

“All of us at Enigma have tremendous respect for the Kyber Network team and their vision for the future of decentralization.” said Guy Zyskind, CEO and co-founder of Enigma. “Our companies are excited to work towards future strategic initiatives and believe this sets a strong precedent for our other partnerships in the space.”

About Kyber Network

Kyber Network is an on-chain protocol which allows instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with guaranteed liquidity. Kyber Network will be the first system that implements several ideal operating properties of an exchange including trustless, decentralized execution, instant trade and high liquidity. Besides serving as an exchange, Kyber Network also provides payment APIs that will allow wallet accounts to easily receive payments from any crypto tokens.

About Enigma

Enigma is creating a decentralized data marketplace protocol to revolutionize the way data is shared, aggregated and monetized. Enigma seeks to enable the scalability of blockchains by providing a complementary off-chain data network, where larger quantities of information can be securely shared and processed without incurring severe on-chain costs. Enigma’s first product to be built on the Enigma protocol is Catalyst, which connects crypto traders and investors with the data critical to creating their edge in the crypto markets and provides them with backtesting, research, and execution tools. Enigma’s goal is to build protocols and products that revolutionize data sharing in the same way Bitcoin has revolutionized payments.