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Kyber Network Unveils Kyber Community Pool (KCP) For Users

Kyber Network Unveils Kyber Community Pool (KCP) For Users

has announced the news about the launch of its highly anticipated delegation pool system, the Kyber Community Pool. The blockchain entity stated that KCP is not developed, maintained, or funded by the core team of Kyber Network. The entity received funding by initiating the idea for the pool in the second KyberDAO experiment case. The news was circulated in the media through an official post by the Kyber Network team on their Twitter portal. It read:

According to the blog post, the Kyber Community Pool is studded with a wide range of features that make it stand out from other platforms. The users can earn similar rewards as they would have earned if they would have cast the votes themselves. There is no hidden fee charge associated with the participation in the Kyber Community Pool. One of the most prominent features of KCP is that the network will always keep the community at the heart of the pool, which implies that the focus shall remain on community development. All the KNC token holders will be enriched with a sense of trust and assurance that their KNC is being employed in a community-driven manner that is beneficial and righteous. Another reward for the pool participants is that the system will give priority to the community thoughts when governing the protocol.

The users will be allowed to deposit their KNC assets into the pool, giving them full authority to the pool master to deal with them. All the funds shall be managed by Protofire’s smart contracts and audited by the Kyber Network and ChainSecurity. A share of fees generated on Kyber Network shall be awarded to the users in ETH tokens. One can store their rewards or redeem them regularly via a Web3 transaction on the main Kyber Community Pool website. The users can enter the amount they want to redeem and click the Redeem option. Kyber Network thrives to cater to its community’s requirements by giving them a voice to be heard by the community members. KCP will lay special emphasis on communication and getting the reviews of one and all regarding an active proposal in the discussion. This shall be executed by maintaining thorough contact with everyone through multiple social media platforms like Telegram, Reddit, Twitter, and Discord. The team will remain in constant contact with their users by conducting bi-weekly calls to them.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies



European Parliament Members, Blockchain Experts Meet to Discuss ICO Regulation

European Parliament Members, Blockchain Experts Meet to Discuss ICO Regulation

Members of the European Parliament

along with blockchain experts met Tuesday, September 4, to discuss possible regulations for Initial Coin Offerings (ICO). At the recent EU event entitled “Regulating ICOs — Is the Crowdfunding Proposal what we were looking for?” the attendees examined the potential complications currently arising in the ICO industry. Ashley Fox, a British Member of the European Parliament, pinpointed three main issues to consider at the meeting: challenges faced by ICOs in raising capital, the existing regulatory approaches on the matter, and the future perspectives of the industry.

In his testimony, Peter Kerstens, chairman of the the European Commission's Taskforce on Fintech, pointed at the “dramatic increase” of ICOs’ volumes in 2018, despite the increasing number of reports on fraudulent ICO projects. According to Kerstens, the growing figures mean that ICOs are “very interesting and promising vehicle instruments” for raising capital. Kerstens stressed the fact that while the ICO industry faces mainly similar problems with other traditional funding activities, it is still different in terms of the amount of money that can be raised. As a major benefit, Kerstens stressed that while it is “extremely hard to raise millions of euros for a startup,” it is “not that hard” for an ICO project.

Addressing the issue of the main differences between ICOs and crowdfunding, Kerstens stressed the fact that ICO tokens are not “intermediated,” which means there is no third party between issuers and investors, posing the main subject of concern. According to Kerstens, most of the aspects of ICOs “cannot be covered by crowdfunding proposals” due to the multiple differences between the industries as well as the uncertain status of ICOs as financial instruments, among other reasons.

Turning to the question of ICO regulation, Aeternity’s global communications expert Julio Alejandro has provided a “very original contribution,” claiming that there is no way to stop an ICO project from creation except by banning crypto exchanges. Alejandro claimed that “you can complain, you can cry, you can believe,” but “the only way that you can actually stop an ICO from creation is stopping an exchange,”


“Whenever you want to stop the diffusion and relocation of information, how are you gonna stop it? Are you gonna ban USBs, the computers? What exact are you gonna ban? You’re banning knowledge.”

Alejandro then stressed the benefits of the ICO industry that are highly valued by the crypto community, such as an ICO’s anonymity, borderless character, mutual transparency, and ability to operate without an intermediary. Alejandro further stated that if any centralized organization “tries to regulate ICOs in some sense,” the industry would become “obsolete” from its technical perspective.

On September 7, economic and financial affairs ministers from the EU’s 28 member states are set to hold a meeting on the challenges posed by digital assets and the possibility of tightening regulations. The event, scheduled to take place in Vienna, Austria, will discuss the main issues around crypto, such as tax evasion, terrorist financing, and money laundering.

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Helen Partz

Helen is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2017, she joined Cointelegraph as a writer.