Kyber Network Progress Update (March 18, 2018)

We are proud to report another successful two weeks for Kyber Network.

We have made significant improvements with regards to our technical development. We have been improving the effectiveness and efficiency of our reserve and smart contracts. Additionally, we have fine tuned wallet our user interface.

In terms of our partnerships and community development, we presented at successful meetup in Japan and have plans to present at multiple events in China in the coming week. We are proud to announce our most recent integration partnership with traceto.io, the decentralized Know Your Customer (KYC) network. Finally, we are looking to hire a Content Strategist and Product Manager, please see the job descriptions below.

Technical development

Reserve

It has been an exciting few weeks with regards to our reserve. Negotiations with Digix Gold about listing their tokens on the Kyber Exchange are underway. Users can expect a steady increase in the tokens available on our platform in the coming months. We have started researching new trustless crypto derivative models and rebalance algorithms. These improvements are still in their early stages. However, the work done so far looks promising. Finally, we have been working on debugging the exchange, making the platform more resilient against Ethereum node glitches, and implementing custom price adjustment processes.

What was done in the last two weeks:

• Finalized integration scheme for listing Digix Gold token
• Researched and started designing trustless derivative products
• Tested AVR model for optimizing our rebalance algorithm
• Extended regression coverage to enhance mis-optimization identification
• Improved multiple exchange rebalancing algorithms
• Implemented more robust mechanisms to mitigate ethereum node glitches
• Introduced custom per token imbalance pricing options

Wallet

We have been consistently working to adjust our wallet integrations to cater to the specific needs of all of our users. This will improve ease conversion and user experience.

What was done in the last two weeks:

• Prepared and deployed a new Trust Wallet specific exchange version with UI changes
• Designed and improved user interface based on user feedback

Smart contracts

Finally, with regards to our smart contracts, we have started designing a new approach that will facilitate arbitrary token to token exchange. We have also implemented a new smart contract that will ensure smoother day to day transactions without compromising security.

What was done in the last two weeks:

• Started designing and testing token to token support contract
• Began implementing a new smart contract to support configuration updates

Community and partnership

Meetups in Japan

Our CEO and Co-founder Dr. Loi Luu was invited to present about Kyber Network at two meetups in Japan.

These meetups, organized by Ethereum Japan and CollaboGate, illustrate how the blockchain scene is growing in places like Tokyo. We are happy to report that both events were full house, attended by a well engaged audience and well respected blockchain companies. Mr. Chionh Chye Kit the CEO of traceto.io and one of our most recent integration partners, also attended the meet up.

We look forward to further collaboration with the blockchain teams we met.

Partnership

Kyber Network secured another integration partnership last week. We are pleased to announce that we will be integrating with traceto.io, the decentralized Know Your Customer (KYC) network.

Traceto.io is a promising company that is leading the movement to promote more robust KYC checks within the blockchain sphere. They have brought together experienced personnel to build a watertight KYC system that promotes stronger communities of transparency and responsibility. Both our companies have come incredibly far since our initial collaboration during the Kyber Network ICO, and we are overjoyed to be working with this team again.

As soon as the traceto.io platform is up and running, we will be integrating with them to enhance our KYC program, ensuring that Kyber Network meets the necessary regulatory obligations. Furthermore, Mr. Chionh Chye Kit, the Managing Director of Cynopsis and CEO of traceto.io, will be joining the Kyber Network Board of Advisors. Our CEO, Dr. Loi Luu and our Executive Advisor, Mr. Wong Lee Hong, will also be joining traceto.io in advisory positions.

Upcoming

We have an exciting few weeks ahead of us with events in Hong Kong, Beijing, and Hangzhou.

Dr. Loi Luu will be attending Token2049 in Hong Kong in just a few days on March 22nd. Loi will be speaking on a panel alongside representatives from Gnosis, Golem, Bluzelle, and Kenetic Capital. The central topic of discussion will be: What are the challenges, before and after, of launching your project on the mainnet? Kyber Network had its mainnet launch slightly more than a month ago, and Loi has invaluable insight into the specifics of making a mainnet launch unfold smoothly.

TN Lee, our Head of Business, will be speaking at the Blockchain Technology and Application Forum in Beijing on March 24th and the Global Blockchain Summit Hangzhou on the 26th. Both events address how blockchain technology will ignite subversive new industrial innovations, and more specifically how the Chinese market can leverage these new developments. TN has played a key role in shaping Kyber Network into the successful company it is today, and his advice will surely add an important perspective to these events.

If any members of the Kyber Community are in these cities, be sure to go see Loi and TN speak.

Hiring

We are looking for two new people to join the Kyber Network team, in the position of Content Strategist and Product Manager.

Content Strategist

The primary objective of this position is to develop a content strategy to cater to end-users and businesses. Our content strategist will be responsible for overseeing the planning, creation and management of informational content, thus shaping the brand image of Kyber Network.

Applicants should have highly developed communication skills, a strong understanding of users, and the ability to anticipate the needs of the target audience by understanding trending behavior. Applicants must be based in Singapore, have strong English writing and editing skills, and have a degree in Marketing, Journalism or a similar field.

See job description here.

Product Manager

Our product manager will articulate the specific scope of a product that we offer at Kyber to a wide variety of audiences, including why a product is important and how it should be delivered. This includes identifying potential products; conducting market research; generating product requirements; determining specifications, production timetables, pricing, and time-integrated plans for product introduction; and developing marketing strategies.

Applicants should be familiar with requirement gathering, information architecture, visual design, copywriting, functional specifications, technical specifications, test cases, test execution, and release management. Applicants are required to have prior product manager experience and be willing to work closely with developers.

See job description here.

About Kyber Network

Kyber Network is a decentralized and trustless exchange that facilitates instant conversion of crypto-assets with guaranteed liquidity. Our protocol will be key to promote liquidity of crypto-assets in the blockchain ecosystem, and improve the perception of tokens as a tradable asset class to the greater public.

These are the ONLY official channels affiliated with Kyber Network:

Reddit: https://www.reddit.com/r/kybernetwork/

Slack: https://slack.kyber.network/

Facebook: https://www.facebook.com/kybernetwork/

Telegram group: https://t.me/kybernetwork

Telegram channel: https://t.me/officialkybernetwork

Telegram (Korean): https://t.me/kyberkorea (for Korea)

Medium: https://blog.kyber.network/