Kyber Network Crystal
KNC
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Kyber Network Crystal (KNC) serves as the utility and governance token for Kyber Network, an established on-chain liquidity protocol and DEX aggregator. The project maintains solid fundamentals with an active public founding team, functional KyberDAO governance with fee capture, completed team token vesting, and ongoing protocol development including the Swap Flow Upgrade V3. However, the asset faces significant headwinds, including heavy competition in a saturated DEX landscape, diminished market capitalization ($23.7M) down ~98% from all-time highs, and a history of protocol compromises (a $265K frontend exploit in September 2022 and an exploit in November 2023). Neither historical exploit triggers the red-flag score cap as both occurred over 24 months prior to current date (August 2026). The overall score reflects the weighted average across all six evaluated sections without data gaps.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Kyber Network Crystal (KNC)
Kyber Network Crystal (KNC) is the native utility and governance token of Kyber Network, an on-chain liquidity hub and decentralized exchange protocol. Founded in 2017 by Loi Luu, Victor Tran, and Yaron Velner, the project operates primarily as an ERC-20 token on the Ethereum blockchain alongside deployments across major Layer 2 networks and other chains. KNC functions within the KyberDAO, enabling token holders to stake their assets, vote on Kyber Improvement Proposals (KIPs), and receive a share of protocol trading fees. Historically, the token underwent a v1 to v2 contract migration in 2021.
At genesis, the token supply was distributed with 61.06% allocated to the community, 19.47% to operational reserves, and 19.47% to founders, advisors, and early investors, with all initial vesting concluded by September 2019. Following the burn of 10,374,651.16 KNC, the token has a maximum supply of 215,625,348.84 KNC, subject to KyberDAO-governed mint and burn capabilities. Protocol development has continued with milestones such as the Swap Flow Upgrade V3 in Q3 2025, which aimed to improve gas efficiency for decentralized trades.
The protocol and token have experienced material security incidents and market headwinds. In September 2022, KyberSwap experienced a frontend exploit involving malicious Google Tag Manager code that drained approximately $265,000 from user wallets, after which the team committed to compensating affected users. In November 2023, Kyber Network suffered a second, separate on-chain exploit. Additionally, KNC has seen a substantial market contraction, trading roughly 98% below its all-time high of $5.70 with a market capitalization of approximately $23.7M amid intense competition in the decentralized liquidity market.