It’s been a long four months since we first announced our plans for the Kyber Community Pool (KCP) — and today we’re happy to share that we’re live on mainnet!
The Kyber Community Pool is a delegation pool that puts the community first when it comes to voting in the KyberDAO. With KCP, you’ll be able to deposit KNC and relax while receiving ETH from fees generated on Kyber Network. Because the KCP uses Protofire’s trustless smart contact proxy, your funds are not in control of anyone except you. In addition to being trustless, the smart contracts have been audited as well.
Kyber Community Pool will not have any additional fees associated with it. What that means is, you’ll be earning the same reward as you normally would have if you voted in KyberDAO yourself! Not only will you be receiving the same, but you’ll also be saving money as there is no gas fee required to vote every epoch as there is without a pool.
Using Kyber Community Pool
- Visit KyberCommunityPool.io and choose “Deposit” at the top right.
- Next, click “Connect a wallet” at the top right.
- Choose your choice of wallet, then look for the deposit and withdraw section:
4. Next enter how much you want to deposit, click deposit, then confirm the transaction with your wallet.
5. The final step after you deposit will be to delegate your vote which will appear under the withdraw section, and then confirm the transaction with your wallet:
6. Lastly, you’ll be able to redeem your rewards whenever they accrue, or let them build up — and you can withdraw at any time!
The groundwork has been laid! Over the coming weeks though, we plan to improve documentation/information available for the pool, make website improvements, and of course work closely with the Kyber community!
You can stay up to date with the future developments of KCP by following our Twitter or hanging out in the various other Kyber social circles!