Kyber Network just put a protocol upgrade into operation on its mainnet in tandem with its decentralized autonomous organization, or DAO.
Kyber fired up its Katalyst Protocol Upgrade as well as its decentralized finance, or DeFi, solution — KyberDAO, the Kyber Network said in a July 7 blog post.
The upgrade caters to the DeFi move
Keeping up with the DeFi wave, Kyber Network put Katalyst in play to help with KyberDAO’s liquidity, the post said.
“In addition, the KyberDAO will empower the Kyber and DeFi community with an actual stake in Kyber’s future, and allow them to contribute directly to our development,” the post said. “We have revamped the Kyber Network website to better communicate the various protocol changes and our new Kyber Network Crystal (KNC) token model.”