Update 1: on September 20, to clarify that private information will not be used for commercial purposes, neither will it be shared with other parties.

Kyber Network token sale ended on Saturday, and we have raised 200,000 ETH from over 21,300 different wallets across 130 countries. To celebrate this important milestone, the Kyber Network team will airdrop Kyber Network Crystals (KNC) to all users who completed their KYC check with KyberNetwork, users who participated in the Indorse token sale and SmartPool token holders.

KNC tokens are transferable at 6am UTC on September 24, and the airdrop to the 3 respective communities will begin on 25 September and is expected to take about 7 days to finish. Through this airdrop, we expect around 39,500 addresses to have KNC tokens, and we hope that this airdrop effort gives more people who had missed the token sale an opportunity to own KNC token. Also, the records of Chinese nationals will be destroyed permanently after the airdrop.

Looking back, there were several things about our token sale that were done differently from most other projects. Notably, we are one of the few that mandated stringent know-your-customer (KYC) checks on all our participants.

The New Token: Kyber Network Genesis Token

On top of KNC, addresses that have registered and passed our KYC exercise via Cynopsis Solutions for Kyber Network token sale will also receive another token — Kyber Network Genesis Token (KGT). KGT is the first token of its kind, in that it represents early contribution to our project.

As of now, KGT is mostly a token for Kyber Network supporters. The KGT token has no significant utility aside for identification purposes and is non-transferable. Please be assured that we do not use the personal information for commercial or any other purposes. The genesis token functions as a recognition of your contribution to KyberNetwork. We will not deviate from our KYC terms and we will not share the private information with other parties.

Again, we wish to remind readers that we are just flirting with possibilities of the token, so nothing is concrete yet. Should a KGT recipient found the token unnecessary, he or she could burn or delete it and it will cease to exist.