Blox and Kyber Team-up to Facilitate CDT Staking

Following the latest product announcement and the release of CDT’s staking mechanism, Blox is happy to announce that CDT is now available on Kyber Network. This listing is designed to improve users’ accessibility to CDT and allows them to enjoy discounts on any perpetual subscription to Blox. As part of the collaboration, Kyber will use the Blox platform to enhance their internal crypto asset management and simplify their bookkeeping and accounting processes.

What is Kyber, About KNC

Kyber Network is an on-chain liquidity protocol designed to support the instant exchange of crypto assets. This exchange functionality can be integrated into any application. For example, Vendors are able to accept payments in multiple tokens yet receive in their preferred token, DApps can allow users who are not their token holders to utilize their services with other tokens, and decentralized financial projects have the means to rebalance their portfolio instantly. Kyber aims to make any token tradable and usable anywhere and become the transaction layer for the decentralized economy. CDT is now amongst the inter-changeable assets on Kyber.  

KNC (Kyber Network Crystal) is an ERC20 token that fuels the liquidity protocol. KNC is used by Reserve managers to pay transactions fees required to execute trades (operate a Reserve) and awarded to third-party applications for generating trade volume. Kyber charges a small fee in KNC each time an exchange happens on the network, before burning the KNC tokens collected as transaction fees.

“Blox is an interesting project with a great product for businesses to track crypto assets and we’re glad to be able to support them through the listing of CDT”

Loi Luu, CEO & Founder of Kyber Network

Blox, CDT, and Staking

Blox is a crypto asset tracking, management and bookkeeping platform for professionals and businesses. Through Blox, users can automatically sync various wallets and exchange accounts to get a complete view of all cryptocurrency balances and transactions in a single dashboard.

CDT, the native token, is an ERC20 token, used to access various features and functionalities on the Blox platform. In Blox, staking CDT takes on a different form. Staking is simply committing a positive balance of CDT for an agreed upon period of time. Businesses receive discounts on the monthly subscription plan of choice, while professional traders can get additional Tx storage. CDT token can be bought on Binance, Mercatox, and HitBTC, and now Kyber as well.

“We’re very happy to join the Kyber Network, we’ve been in close contact with them for a long time. I’m excited to see the great progress they are making. We’re looking forward to getting feedback on the Blox platform so we can continue strengthening our offering and product for future partnerships.”

Alon Muroch, Co-Founder & CEO of Blox

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