KyberDAO set to launch on July 7th
Katalyst is ready to go live in a few days and will introduce the KyberDAO, a community platform to facilitate the decentralized governance of the protocol. Kyber Network states that any fees collected from the network; 65% will go to Staking Rewards, 30% to Reserve Rebates for Fed Price Reserves and 5% to be used for purchasing KNC tokens and burning them.
Once Katalyst is launched, KNC holders can stake their tokens on the KyberDAO and govern the protocol by voting on important proposals and parameters, while earning rewards (in ETH) for their efforts. Any KNC holder can contribute to Kyber’s development by participating in the KyberDAO.
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