Staked operates highly reliable and secure staking

infrastructure for 25+ PoS protocols on behalf of

the leading crypto asset investors in the industry.

Kyber Network (KNC)

Highly Reliable and Secure
Overview:

Kyber Network is a decentralized exchange that
aggregates on-chain liquidity and enables
permissionless token trading.

Key Metrics
Non-Custodial
Staking Launch: 07/07/20
Voting Rewards: 65% of Protocol Fees
Reward Type: ETH
Flexible Go-To-Market
Lock-Up Period: No Lock-Up
Slashing: No Slashing

Broadest Asset Coverage Schedule Discussion

Contact: Cole Kennelly, Account Manager

Email: cole@staked.us

Calendar: https://bit.ly/2Y2dGjz

Block-Level Reporting http://staked.us

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Staking & Voting KNC holders stake their tokens on the KyberDAO, and govern the protocol by
voting on important proposals and parameters while earning rewards in ETH.
Staking and voting are done in epochs of ~ 2 weeks in duration.

KNC holders who want to stake their tokens, but don’t have the time to
participate regularly in voting in every epoch can delegate their voting power
to a 3rd-party ‘pool’ operator to vote on their behalf. Staked operates a
non-custodial pool to make this process easy.

Vote delegation is 100% non-custodial. KNC holders retain full control of their
KNC throughout the staking and voting process, and can withdraw or
re-delegate anytime without penalty. There are no staking or delegation
lock-up periods.

When delegating to a 3rd party, KNC holders must delegate their entire stake
(no partial stake delegation), and can only delegate their stake to one pool
operator at a time.

There is a one epoch delay between staking and voting, and a one epoch delay
between voting and being able to claim rewards. After staking or delegating in
epoch 0, KNC holders are eligible to participate in voting and earn rewards in
epoch 1, and can claim rewards from epoch 1 starting in epoch 2.

Rewards Fees generated from trading on the Kyber Network are distributed to
KyberDAO stakers as voting rewards, and to liquidity reserve managers as
performance bonuses / rebates. Fees are also used to buy KNC on the open
market that is then burned to decrease the circulating KNC supply.

Currently, 65% of the exchange fees will be allocated to voting rewards, 30% to
reserve rebates and 5% to KNC burning. KNC holders will be responsible for
voting on the fee allocation parameters going forward.

The reward distribution is designed to incentivize stakers and delegates to

vote on all the proposals. In every epoch, there will be one or more
proposals, each with several options. In order to earn all of the available
voting rewards, participants must vote on all of the proposals in each
epoch. If there are two proposals in a given epoch, and participants only vote
on one, they will only earn 50% of the rewards.

After every epoch, ETH will be allocated to voting rewards. The amount of
voting rewards will be determined by trade volume, network fees earned in the
prior epoch, and the proportion of fees allocated to voting rewards. Available
staking rewards are calculated as the network fees generated * the fee
allocation to voting rewards (65%). Individual staking rewards are calculated
using KNC staked on a pro-rata basis, after adjusting for successful votes per
epoch.
Rewards
Rewards must be claimed manually via an on-chain transaction using the

KyberDAO interface, and do not expire.

(Continued)

There is no slashing on the Kyber Network. If participants miss votes, they

forego voting rewards, but never actually foreit KNC.

Reward Calculations:

Available Rewards = Network fees * percentage of rewards allocated to voting

(65%)

Staker’s Voting Points = Staker’s staked KNC * number of proposals voted on

Staker Share = Staker’s voting points / voting points for all stakers

Staker Reward = Staker share * available rewards

Delegation To delegate KNC to the Staked pool, visit https://kyber.org/, and connect a

web3 wallet by clicking on the Get Started button in the upper right hand
Instructions
corner of the screen.

Next, click on your connected address or ‘My Stake: 0 KNC’ in the upper right

hand corner of the screen. This will open a My Wallet menu. Do not click on the

Stake or Stake Now buttons.

With the My Wallet menu open, enter the following Staked pool Ethereum

address into the Delegate’s Ethereum Address field under the Delegate header:

0x1d1A3bd9A48Eedb44450a6080fCCf70D73Df777c

Finally, click the Confirm button in the Delegate modal and approve the

delegation transaction via your web3 connected wallet. Once the delegation

transaction has been confirmed on the Ethereum blockchain, Staked will start

voting on your behalf and you will start earning rewards in the next epoch.