Blockchain Project Kyber Unveils Date for Planned ‘Katalyst’ Protocol Upgrade

Kyber Network’s next protocol upgrade, dubbed Katalyst, is expected to go live on July 7. In an emailed announcement on Monday, Kyber said the upgrade will usher in changes around the role of its native token, the Kyber Network Crystal (KNC), aimed at attracting more participants to the protocol’s development.

The Katalyst upgrade and subsequent KyberDAO platform are planned to support three types of Kyber stakeholder groups: reserve entities providing liquidity to Kyber; decentralized applications (dapps), which connect takers to the Kyber protocol; and general KNC holders. The Katalyst upgrade will also bring in a new mechanism enabling KNC holders to stake the token and be rewarded for voting participation in ether (ETH) collected in the form of network fees resulting from trading activity.

Timeline of Kyber-network, Ethereum