The Kyber Network (KNC) community’s governance pool has been greenlit for the upcoming Katalyst upgrade, according to a blog post published on June 25. Called the Kyber Community Pool, the pool is a way for KNC holders to participate in the development of the network. The effort is not officially linked to the Kyber Network team.
The community pool accompanies the upcoming Katalyst upgrade for Kyber Network, a major change that will see the introduction of the KyberDAO. Users will be able to vote on various proposals using the KNC token and be rewarded with a portion of the network fees for staking on the network.
The upgrade was first announced in December 2019, with the intention of “cementing Kyber’s position as the liquidity layer” for the defi space. Broadly speaking, the upgrade expects to improve usability interaction for dapp developers and liquidity providers.
KNC holders will only have to deposit tokens into the pool, without additional effort to participate in the governance process. Making the process as intuitive and convenient as possible was a key design decision, a conscious choice to encourage non-technical users to participate.
KyberDAO is expected to launch towards the end of Q2 2020. In addition to its release, the team is also working on bolstering its liquidity and the diversity of its reserves.