Kyber Network
also invests Β· investor profileFounded 2017 Β· 93 employees on LinkedIn Β· 10 known investors
Kyber Network operates an on-chain liquidity aggregation protocol that sources token liquidity from multiple decentralized exchanges and protocols to provide traders, DApps, and aggregators with token swap rates across chains including Ethereum, Polygon, BNB Smart Chain, Avalanche, and Fantom. It serves DeFi applications and developers building decentralized finance and payment products, and is governed by the KyberDAO of KNC token holders.
Also known as KNC Β· Kyber Β· Kyber Network Crystal Β· KyberSwap
Founders & leadership
Kyber Network was founded in 2017 by Victor Tran.
Investors Β· 10
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Funding
SEC filings, press & company announcements- Undisclosed amountSeedJun 2026Source β
Source: company announcements and press reports β follow each round's link for the claim.
Company profile
researched Aug 2026Kyber Network is a multi-chain crypto trading and liquidity hub that connects liquidity from multiple sources so that traders, decentralized applications and aggregators can execute token swaps at competitive rates. Its main user-facing product, KyberSwap, is a DEX aggregator and liquidity platform that sources liquidity from third-party decentralized exchanges β including Uniswap, Sushi, Curve, QuickSwap, PancakeSwap, Trader Joe, Pangolin, SpookySwap, SpiritSwap, VVS Finance, Velodrome and GMX β alongside Kyber's own pools. The service is permissionless and requires no account sign-up, and all trades settle on-chain and are verifiable on block explorers.
The network serves four constituencies: traders who swap tokens; liquidity providers who deposit tokens to earn swap fees and farming rewards; KNC holders who stake to vote in governance and earn rewards funded by trading fees; and developers who integrate Kyber's protocols into wallets, token swap services, NFT and e-commerce payment flows, and DeFi applications such as collateral liquidation and portfolio rebalancing. Company materials describe support for over 13 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Optimism, Velas, Aurora, Oasis, BitTorrent and Ethereum PoW, and cite more than 20,000 available tokens, 70+ connected DEXs and 100+ integrations.
Governance is exercised through KyberDAO, a decentralized autonomous organization of KNC token holders who stake tokens and vote on network parameters and proposals. Kyber's code is open source and published on GitHub, where active repositories cover the KyberSwap interface, the DexLib DEX-integration library used by the KyberSwap backend, aggregation router smart contracts and documentation.
Founding story
Kyber Network began development in 2017 on Ethereum. Loi Luu met his future co-founders as academic collaborators while completing a PhD in computer science at the National University of Singapore, where their research targeted blockchain decentralization, scalability and security (Oyente, SmartPool and Elastico). The team's move into token exchange was prompted by a project asking whether it could accept a token other than Ether; finding no practical existing solution, they built a protocol for decentralized token swaps that would let holders of any token access any service.
Business model
Kyber operates a protocol-based model rather than a subscription or licensing model. Historically, liquidity was supplied by independent "reserves" that set their own conversion rates and spreads and earned from the spread on each transaction; Kyber operated its own reserve and therefore also earned from spreads. Reserves were required to pay fees in the KNC token, part of which was awarded to integrated DApps as a volume incentive while the remainder was burned as network fees. In the current design, swap fees fund staking rewards distributed to KNC holders who stake in KyberDAO, and liquidity providers earn swap fees and farming rewards for depositing tokens.
Protocol-level fees on trading activity: spreads captured by Kyber's own liquidity reserve and KNC-denominated network fees historically paid by reserves, with a share directed to integrating DApps and the remainder burned; trading fees also fund KNC staking rewards.
Traction
Company materials report over $20B in cumulative trading volume including DEX aggregation, more than 2 million total transactions, 100+ DApp integrations, 20,000+ available tokens and access to roughly $25B of TVL across 70+ DEXs on 13+ chains. Earlier disclosures cite over 827,000 ETH in trades and 55+ integrated projects as of mid-2019. The KNC token had about 42,000 holders and roughly $3.2M of 24-hour trading volume against a $23.9M market capitalization at the time of the CoinMarketCap snapshot. Open-source activity is ongoing, with commits to KyberSwap interface, DEX library and smart contract repositories in August 2026.
Latest developments
Public code repositories showed continued engineering activity in August 2026 across the KyberSwap interface, the DEX aggregation library, aggregation and distribution router contracts and a "smart-intent" contract repository. Company materials describe expansion of the aggregator to 13+ chains and 20,000+ tokens, with Solana support listed as planned.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Kyber positions itself as liquidity infrastructure for the decentralized economy rather than a consumer exchange brand, and is frequently characterized by ecosystem participants and investors as a widely integrated liquidity protocol in Ethereum DeFi. Its KNC token was ranked around #590 by market capitalization on CoinMarketCap at approximately $23.9M market cap, well below its April 2022 all-time high of $5.72 per token. Competing and complementary venues from which KyberSwap draws liquidity include Uniswap, Sushi, Curve, PancakeSwap, Trader Joe and GMX.
Kyber emphasizes fully on-chain, transparent and verifiable operation with permissionless access, in contrast to off-chain order routing systems; simple integration for blockchain applications; aggregation across many liquidity sources rather than a single pool; and capital-efficient liquidity provision via its dynamic market maker design. The KNC token ties governance and fee distribution to a community DAO.
Technology
An on-chain liquidity aggregation protocol implemented in smart contracts, with a routing layer that sources quotes across many decentralized exchanges and Kyber's own pools to determine execution rates. In 2021 KyberSwap introduced a dynamic market maker (DMM) protocol aimed at higher capital efficiency for liquidity providers. Public repositories include the KyberSwap front-end interface, kyberswap-dex-lib (a Go library that lets external DEX developers integrate their venue with the KyberSwap backend), aggregation router and distribution smart contracts in Solidity. Kyber states its contracts have undergone external audits β including work with ChainSecurity β plus bug bounty programs and insurance coverage. The founding team's earlier research output includes Oyente, an open-source Ethereum smart contract security analyzer; SmartPool, work on decentralizing mining pools; and Elastico, an early sharding proposal for public blockchains.
Go-to-market
Distribution combines a direct consumer interface (KyberSwap) with protocol integrations: applications embed Kyber's swap functionality via open documentation and SDKs, and external DEXs can self-integrate by submitting pull requests to the open-source kyberswap-dex-lib repository. Growth incentives historically included routing a share of network fees to integrating DApps. Community channels span Discord, Telegram (English, announcements, KyberDAO and Vietnamese groups), a governance forum, Twitter, Reddit, YouTube and a blog.
Retail and DeFi traders seeking token swaps; liquidity providers and professional market makers; KNC holders participating in governance; and developers and projects β wallets, token swap services, NFT and e-commerce payment platforms, lending platforms, yield aggregators and other DeFi applications β that need embedded liquidity. Early integrators cited include MyEtherWallet, imToken, Trust Wallet, Enjin, HTC Exodus's Zion Vault, InstaDApp, Nuo, Set, Fulcrum and Melonport.
Geography
Multi-chain and global in reach, with no geographic restriction on protocol access. CoinMarketCap states the company's headquarters are in the British Virgin Islands. The website carries a Singapore-specific notice stating that it has not been reviewed by the Monetary Authority of Singapore, and the team's activities have included co-organizing a crypto policy dialogue in Vietnam and community groups in Vietnamese.
History
Development began in 2017 and the protocol launched on Ethereum. The in-house token swap service KyberSwap went live on Ethereum mainnet in February 2018. By mid-2019 more than 55 projects had integrated Kyber, over 70 ERC20 tokens were supported and 24 reserves were contributing liquidity. Co-founder Yaron Velner stepped down as CTO in October 2019, remaining an advisor, and later became CEO of B.Protocol. The Katalyst upgrade transitioned Kyber's crypto-economics to KyberDAO governance. In 2021 KyberSwap launched a dynamic market maker protocol, and the platform expanded to more than 13 chains with aggregation across 70+ DEXs.
Risks & controversies
The KNC token traded about 98% below its April 2022 all-time high at the time of the CoinMarketCap snapshot, with a small circulating market capitalization and thin liquidity that commentary describes as amplifying price swings. The company's website states that neither Kyber Network nor any affiliated entity is regulated or licensed by the Monetary Authority of Singapore, and that the site has not been reviewed by MAS. As a smart-contract protocol, Kyber is exposed to contract security risk, which it addresses through audits, bug bounties and insurance.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Competitors Β· 8
by search overlap
Companies competing with Kyber Network for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline Β· 3
launches, deals, and filingsKyberSwap launched a dynamic market maker (DMM) protocol in 2021.
Yaron Velner stepped down from his CTO position at Kyber in October 2019 but remained as an advisor.
Kyber launched its in-house token swap service KyberSwap on the Ethereum mainnet in February 2018.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- Kyber Networkkyber.network Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Kyber Network do?
- Multi-chain on-chain liquidity hub whose KyberSwap aggregator routes token trades across DEXs and its own pools.
- Who founded Kyber Network?
- Kyber Network was founded by Victor Tran in 2017.
- Who are Kyber Network's investors?
- Kyber Network's investors include Fenbushi Capital, Genblock Capital, IOSG Ventures, Pantera Capital, Signum Capital, WolfEdge Capital, ZMT Capital, Amino Capital and 2 more.