KNC pumps ahead of Katalyst upgrade: caution ahead

A
@Ibis
Jul 3, 2020

KNC has been on a bender in the past 48 hours, gaining +46.6% and breaching the $1.75 resistance for the first time since May 2018.


The reason for the rally is no mystery: the Kyber team recently announced the launch date for their much-anticipated Katalyst upgrade along with KyberDAO, a community platform to facilitate decentralized governance of the protocol:

KNC price, last 3 months (Source: Sanbase)

“This will usher in an exciting new era for Kyber Network”, reads the announcement, “with a host of major technical improvements aimed at enhancing decentralized liquidity for decentralized finance (DeFi)!”


Among other notable updates, KNC holders will now be able to stake their coins to vote and earn rewards (in ETH) for their efforts. Holders will be able to stake KNC starting in Epoch 0 (July 7th), and vote on the first KyberDAO proposal