Stake Capital partners with Kyber to provide convenient KNC staking and delegation services

KNC (Kyber Network Crystal) holders can delegate KNC voting power to Stake Capital and earn rewards in ETH

Published in

Kyber Network

4 min readJun 1, 2020

Kyber’s Katalyst upgrade will soon introduce a new staking mechanism and the launch of the KyberDAO — a decentralized community platform for KNC token holders to participate in protocol governance. KNC holders can stake their tokens, participate in governance, and earn ETH rewards. Unlike other DeFi protocols, Kyber will be the only one that has a deflationary staking token through which ETH rewards and token burns are determined by actual network and DeFi usage.

With Katalyst fast approaching, we’re glad to announce another non-custodial delegation service for KNC holders. Stake Capital, a popular DeFi and staking service provider, will be a KyberDAO Pool Operator and launch partner, providing a convenient, trustless, and secure way for users to stake KNC and delegate voting power to them and easily claim their ETH rewards.

In addition, Stake Capital will be taking a position in KNC, and actively participate in Kyber governance themselves, playing an important role in the long term success of the project.

What is Stake Capital?

Stake Capital supports a range of different DeFi services and derivative products. Stake Capital users can effortlessly deploy a range of strategies to maximise the return on their digital assets, including compounding via lending, borrowing, leveraging, swapping, arbitrage and staking-as-a-service. Users can also earn DeFi fee revenue via StakeDAO, a revenue-sharing DAO powered by Aragon which tokenizes Stake Capital’s DeFi services and uses staking derivatives to unlock additional decentralized products. There is no membership or lock-in period.

Stake Capital currently provides token staking services for projects such as Nucypher, Livepeer, Cosmos, Tezos, Kusama, and many others. As our latest KyberDAO Pool Operator, Stake Capital will be providing staking services for the KNC token as well, voting on their users’ behalf. They will be utilising the trustless smart contract proxy developed by Protofire, which ensures that KNC tokens delegated to them are always within the control of their users.

How to stake KNC and delegate voting power to Stake Capital?

1. Stake and delegate KNC: KNC holders who do not want to vote in every epoch, can stake and delegate their tokens to Stake Capital, while maintaining custody of their assets at all times. Stake Capital will actively vote on users’ behalf.

2. Claim ETH Rewards: Stake Capital returns the yield minus a small service-specific convenience fee. Users can claim their rewards anytime, or allow returns to be reinvested to further compound rewards.

Non-custodial and Transparent Delegation Service

All voting decisions and ETH reward distributions by Stake Capital will be made transparent to the community.

Kyber is glad to work with the Stake Capital team to provide a convenient, non-custodial staking and delegation service for KNC holders. Stake Capital is also committed to acting on the best interests of KNC holders and the Kyber ecosystem by actively voting on key decisions on their behalf. To learn more about Stake Capital, please visit https://www.stake.capital/

Kyber is committed to ensuring KNC holders have a set of user-friendly, yet highly trustworthy methods of staking, voting, and delegating. Reach out to us on discord if you’re interested in being a pool operator and running your own trustless KyberDAO pool. Stay tuned for more updates on Katalyst and KyberDAO!

For additional information, please contact Shane on Telegram https://t.me/shaneHk or Twitter https://twitter.com/shaneMkt

Related information

#KatalystIsComing

About Kyber Network

Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Using this protocol, developers can build innovative payment flows and applications, including instant token swap services, ERC20 payments, and financial DApps — helping to build a world where any token is usable anywhere.

Kyber is the most used and integrated decentralized finance (DeFi) protocol in the world, with over US$1Billion worth of transactions facilitated since its inception. Kyber supports over 80 different tokens, and powers over 100 integrated projects including popular wallets MEW, Trust, Enjin, Argent, and the HTC Exodus smartphone, as well as DeFi platforms Nuo, DeFiSaver, InstaDApp, Set Protocol, Melon, and many others.