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Kyber Plans To Implement Its Protocol Across Smart Contract- Enabled Blockchains

Kyber protocol has always stood out in the crypto world because its on-chain liquidity protocol enables instant and seamless transactions between platforms, ecosystems and other use cases. But now the team behind Kyber protocol is planning to move a step ahead and bring its protocol across smart contract– enabled blockchains

Kyber lists down its three key objectives for 2019

Just like other projects in the decentralized world, Khyber too has listed down its key long term objectives as well as plans for 2019.  The three key objectives that Khyber plans to fulfill in the coming year are

  1. Expanding the scope of Kyber, by moving towards permissionless liquidity protocol that can be implemented on any smart contract enabled blockchain.
  2. Supporting the growth of the decentralized economy in 5 key areas: End-user swaps, NFT and commerce payments, exchanges and trading, decentralized finance and liquidity provision.
  3. The team expects protocol direction, implementation, and treasury decisions to eventually be made by the Kyber community. Therefore, the technical, communication and governance framework is being established to grow a community with the passion, expertise, and incentive to build Kyber together.

As the team behind the development of Kyber is always focused on finding the most optimal technical solution and systems to bring the best to the ecosystem and drive adoption of decentralized applications thus incrementally widening and increasing the scope and application of the technology and the framework

While the project is focused on the mission of Any Token, Anywhere, it has now set up the key goal of building a world where any token of value can be used anywhere for swaps in any wallet, payment services, and financial products.

As far as technical of the project are, the team has been consistently trying to work on an improvement to the core systems, as seen in the introduction of the Order Book Reserve, Automated Price Reserve (APR), and Kyber Trading API. The project is also working on version 3 upgrade to the core smart contracts to accommodate the permissionless. Order Book Reserves was deployed recently, which is a major piece towards allowing open contribution of liquidity. This upgrade will be detailed in an upcoming technical update.

Kyber believes that 2019 will represent both an affirmation of the work that had been done, while simultaneously expanding the scope of Kyber. With a clear vision, the project definitely looks really strong to achieve its set goals

What are your thoughts on Kyber and its goals? Do let us know your views on the same.

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