A very happy new year! Things are flying off to a great start at Kyber Network. We’re just a few days into 2018 and already the heat is on. Can you feel it?

Technical Development

Reserve

Our engineers have been working round the clock to upgrade our reserve functionalities. They have produced a new smart contract that provides an integrated set rate and allows us to obtain price APIs. The reserve now supports exchange limits and fees and has been equipped with an authentication layer as well as a database interface for data processors to use. Our next steps are to design a step function for tier pricing, develop a persistent database, and implement imbalance-dependent pricing algorithms. Our engineers are also tying up some loose ends with the basic pricing algorithm and socket support for exchanges. All of these to be done next week.

Wallet

Our wallet now boasts a new asset design (designed internally by us!) and an editable minimum conversion rate. It has also been integrated with a new smart contract API. Further integration with the contract will be added if necessary.

Smart contract

Our smart contract has made important leaps with gas optimization and internal deployments. We have also commenced our unit testing phase. After we conclude the first round of unit tests, we will send the contract for auditing. At this point, we are adding the final touches to some key features before moving on to the issue of fee burning, which we hope to optimize by next week. We are also planning to integrate the smart contract with Prycto, our second reserve.

Look out for an upcoming post early next week detailing the smart contract architecture.

Community and Partnership

The Seoul Developers Meetup + Competition

will soon be upon us. Get psyched, if you aren’t already! In the run-up to Kyber Network’s biggest event of the year (so far), we have received strong support and affirmation from the community, for which we are incredibly grateful. Many of you have already approached us in teams and have started to flesh out your dApp ideas. At the meetup, you will be treated to four project presentations from the most impressive teams (details to be announced soon). All participants will be given a Kyber Network event T-shirt and 20 lucky individuals will receive a special edition Kyber Network phone case (see below).

We are less than 10 days away from the due date of the idea submission. The closing date for submissions is January 12, 2018. For those of you who are interested in contributing ideas, please forward your proposal to [email protected]. We can’t wait to see what you come up with!

Kyber Network special edition phone cases.

Partnership

Last week, we unveiled an exciting new partnership with Change, the all-inclusive mobile banking application. The integration of Kyber Network’s token conversion protocol with Change’s platform will allow more users to send, receive, and exchange ERC-20 tokens with ease, all in the name of better financial portfolio management. Keep your eyes peeled for more partnerships and integration.

Hiring

Finally, on the human resource front, we are pleased to announce the hiring of a new talent, hailing from Israel. Amit Kotlovski, has taken his place in our team as the new developer, in charge of trading algorithms and improving reserves component.

We hope your first week of 2018 has been as eventful and hopeful as ours! As always, we thank you for your support and for taking the time to read our updates. Onwards and upwards, Kyberians!