Kyber Network plans to upgrade Katalyst protocol on July 7th

Decentralized liquidity agreement Kyber Network plans to upgrade the Katalyst agreement on July 7th, aiming to enhance the decentralized liquidity of Decentralized Finance (DeFi) and incentivize the participation of key stakeholders in the Kyber ecosystem. In addition, Kyber Network will also introduce community platform KyberDAO. After Katalyst is launched, KNC holders can participate in Kyber’s on-chain governance by pledged KNC to vote on important proposals and parameters, and at the same time, they can also obtain benefits. Lianwen previously reported that Kyber Network previously planned a major upgrade of the Katalyst agreement in the second quarter of this year, designed to incentivize reserve managers, DApps and KNC holders to participate in the ecosystem and create more value for KNC holders. The option not only provides staking and participation rewards, but also puts KNC holders at the core of KyberDAO in terms of governance and has decision-making power over the use of fees.