— Kyber Network (@KyberNetwork) May 13, 2018
With 18.7 million registered gamers, Singapore-based Enjin’s ENJ token grants access to a smart contract platform which provides game developers with the ability to implement Enjin’s cross-platform e-commerce tools.
The project team is still believed to be on course for its original roadmap which detailed development of an open-source software development kits (SDK), virtual item management apps and a payment gateway platform before the end of the year.
A high profile project that is already listed on some of the world’s leading exchanges, including Binance, its upcoming listing on the Kyber Network appears to form part of a larger strategy of pushing for visibility within decentralised exchange platforms including the Bancor Network which, according to some analysts, may be overtaking traditional exchange platforms.
Similar to Bancor, the Kyber Network is a decentralised exchange (DEX) that enables interchangeability and fluidity of Ethereum based tokens on a peer-to-peer (P2P) basis.
Having launched its DEX through its own ICO last September, successfully raising $52M USD in just over twenty four hours, its own token (KNC) is now listed on major exchanges like Huobi, Kucoin, Binance, and Bithumb.
In the intervening months since the launch the project team has been collaborating with several other blockchain outfits including imToken, ICON, Request Network, WAX, GIFTO, and most recently, MyEtherWallet.
This activity has seen the launch of their mainnet, an increase in both trading pairs on the exchange and daily turnover.
Last month, Kyber Network’s CEO, Loi Luu, announced they would be offering a new service known as the Initial Exchange Offering (IEO) which would facilitate ICOs for both token issuers and end-users.
While this follows other similar recent trends in the market, Loi Luu believes that his company can streamline procedures and alleviate the burden of KYC for new businesses as well as allowing investors “to contribute in the token of their choice, with our conversion mechanism taking care of the rest — no stress, no mess. Participating in ICOs will never be easier.”