Kyber Network Staking KyberDAO

Kyber Network: KyberDAO KNC Staking Tutorial

Written by LouiseElizabeth

9th July 2020

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Kyber Network has now added a new staking option for KNC token holders. Meaning that holders of Kyber Network Crystal (KNC), can stake KNC to vote on important proposals. In return, they receive rewards in Ethereum from network fees collected from trading activities in Kyber Network.

Anyone can stake KNC, vote on proposals and claim rewards in their platform, kyber.org There’s no minimum staking amounts, the Kyber Network does not hold your funds at any point and you’ll always have full control over your funds. Plus your free to deposit or withdraw your tokens at any time.

To get started simply open kyber.org, and you’ll need some KNC tokens to stake, plus some ETH to pay for the gas costs. If you don’t already have KNC you can get this on the likes of KyberSwap, Argent or Trust. You’ll also need an Ethereum wallet to connect, such as the likes of Metamask, Ledger, Trezor or WalletConnect or Wallet Link.  The platform is also optimised for mobile and works on any web3 and App browser, so that you can stake KNC on crypto wallets such as Trust, Coinbase Wallet, etc.

Once you have staked, you will then need to wait for the next Epoch to be able to vote. You’ll need to vote for all the proposals in the current Epoch to get your full reward.

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