Kyber Network has launched an on-chain governance vote, and nearly 24% of KNC tokens have been pledged

The decentralized liquidity agreement Kyber Network announced that it has officially launched KyberDAO on-chain governance. The first proposal BRP-1 has been launched. KNC holders can pledge KNC to make voting decisions on the distribution and use of transaction fees on the Kyber platform. At present, over 3,400 addresses have pledged over 52 million KNC (over 80 million US dollars) on KyberDAO, accounting for about 24% of KNC’s total supply. According to Lianwen, the initial distribution plan of Kyber platform fees is: 65% as a staking reward; 30% as a liquidity reserve reward; 5% is used to buy KNC and burn it. With the completion of the Katalyst agreement upgrade, KNC holders can adjust the percentage of the above transaction fee allocation by pledge KNC, submit new proposals or participate in voting. Lianwen query found that the current distribution plan with the highest number of votes (48.53%) is: 61.6% as a staking reward; 28.4% as a liquidity reserve reward; 10% is used to buy KNC and burn it.