Kyber Network Expands Its Token Offerings with USDT and SNX

Kyber Network Expands Its Token Offerings with USDT and SNX

Crypto News – USDT and SNX can now be accessed through KyberSwap and other platforms that use an on-chain liquidity protocol.

As of now, Kyber Network provides support for more than 75 ERC20 tokens. You can find a step-by-step guide on how to buy and sell ERC20 tokens on KyberSwap in our basic guide.

Here’s some key information about the listings:

USDT Listing Information:

• Listing Date: August 16th, 2019
• Listing Time: 9 PM (GMT+8)

About Tether (USDT)

Tether (USDT) is a cryptocurrency designed to reflect the value of the US dollar. Following the widespread success of the Bitcoin-based USD Tether issued via the Omni Layer Protocol, Tether has expanded its offerings to include both US Dollars and Euros as Ethereum-based Tether compatible with the ERC20 standard. Ethereum-based Tether allows users to transact and exchange fiat-pegged currencies over the Ethereum Network while promoting interoperability with Ethereum-based protocols and DApps by enabling the transfer of tokenised USD and EUR over the Ethereum network.

You can view the contract information and issuance details for these new versions of Tether at Tether Transparency.

You can follow for more information about Tether:

• Twitter: Tether Twitter
• Facebook: Tether Facebook
• LinkedIn: Tether LinkedIn
• Website: Tether Website
• Token Information: USDT Token
• Other Information: USDT on CoinMarketCap

About Synthetix Network Token (SNX)

Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX), which, when locked in the contract, enables the issuance of synthetic assets (Synths). This unique collateral model allows users to perform conversions between Synths directly with the smart contract, eliminating the need for counterparties.

This mechanism resolves liquidity and slippage issues commonly experienced by DEXs. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short), and commodities. SNX holders are incentivized to stake their tokens as they receive a portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. The value of the SNX token is derived from the right to participate in the network and capture fees generated from Synth exchanges.

All Synths are backed by SNX tokens. Synths are minted when SNX holders stake their SNX as collateral using Mintr, a decentralized application for interacting with the Synthetix contracts. It’s important to note that SNX stakers incur debt when they mint Synths, and to exit the system (i.e., unlock their SNX), they must repay this debt by burning Synths.

For more information on Synthetix Network Token, you can explore:

• Blog: Synthetix Blog
• Twitter: Synthetix Twitter
• Reddit: Synthetix Reddit
• Discord: Synthetix Discord
• GitHub: Synthetix GitHub
• Website: Synthetix Website
• Token Information: SNX Token
• Other Information: SNX on CoinMarketCap

About Kyber Network

Kyber Network is committed to creating a world where any token can be easily redeemed anywhere. Its flagship Decentralised Exchange (DEX) aggregator and liquidity platform KyberSwap.com provides superior rates to traders on DeFi and maximises returns for liquidity providers.

KyberSwap powers over 200 integrated projects and has facilitated over US$20 billion worth of transactions for thousands of users across 15 different chains since its inception. You can find the full list of supported exchanges and networks here.

With these exciting additions, Kyber Network continues to enhance its ecosystem, offering users access to a wide range of tokens and DeFi opportunities.