Kyber Network is a liquidity protocol built on top of ethereum. It’s a platform third parties can build financial dApps such as token swaps on. Kyberswap, their most popular service, is a user-friendly interface to swap tokens in a fully decentralized way.
Here are some reasons I think Kyber Network has much potential to become a large building in the ethereum (and other blockchains) infrastructure.
Kyber Network Team has a strong execution culture. I am following the project since late 2017 and they delivered very well on their roadmap while improving in many areas. This makes them shine in the pool of hundreds (or thousands) crypto projects out there. Kyber Network Brand is well known in the ethereum community and earned a high reputation.
Kyber Network is open source and all transactions happen onchain. A dashboard to let users see more details about ongoing transactions, tx-volume and burn rates of their native token KNC can be found here. There are a lot of good reviews about KNC token mechanics, so I won’t go deeper into this. In short: KNC is tied to the growth of its platform.
I have used it many times and I know other people (will) like it too, as Viktor Radchenko, CEO of Trust-Wallet, also found out:
No order books, deposits or wrapping. No middleman or transaction risk. Just swap one token for another within few clicks. The perfect solution for users, who just want to swap tokens on the fly.
Kyber Network is exploring cross chain interoperability, scaling solutions (Gormos), NFTs and decentralized finance applications. More info about their plans can be found here.
Although the competition in the (decentralized) exchange space is very strong, I can see Kyber Network scoring above all for its ease of use.
My views are biased since I do hold a small amount of KNC.