FAQ - Others

Your KyberDAO Questions Answered

Which Ethereum wallet connections are supported?

Metamask, Ledger, Trezor, JSON keystore file, Coinbase Link, and WalletConnect are supported.

What is a delegation/staking service?

Delegation or Staking services are 3rd party entities that help KNC stakers cast votes on their behalf and help them earn staking rewards. Some services like unagii.com allow KNC holders to stake directly on their platform.

Simple delegation to another Ethereum address is done on: https://kyberswap.com/kyberdao/stake-knc

Example: Alice staked 1000 KNC and delegated her voting power to her friend Bob’s Ethereum address. Bob casts votes on Alice’s behalf. KNC rewards will be distributed to Bob’s Ethereum address. Bob takes his commission (he can also choose to do it for free) and transfers the remaining rewards to Alice. Note that although KNC rewards will be given to Bob after he votes, Bob cannot touch or withdraw Alice’s staked KNC. Alice has full control over her staked KNC. Important: In this simple delegation method, your delegate is responsible for voting on your behalf and distributing your KNC rewards to you, though only you can withdraw/unstake your own KNC. Kyber Network does not hold your funds or manage this process.

What is the delegation fee?

The percentage of KNC voting rewards that 3rd-party delegation/staking services can choose to keep in exchange for voting on your behalf or providing other delegation services. This is up to the external delegation service and not managed by Kyber Network.

There is no charge when you manually stake and vote on your own (without using a 3rd-party service) on the default KyberDAO interface on KyberSwap.com

Is there any ‘slashing’ involved like other staking systems?

No. You will always be able to withdraw the full KNC capital deposited.

Do I need to run a node to stake?

No. Just connect your Ethereum wallet on KyberSwap.com and stake KNC there.

What is "block time"?

The time between two blocks of the validated chain (Ethereum in the case of KyberDAO). It’s approximately 15-16 seconds for Ethereum blockchain.

What is an "epoch"?

An epoch is a time period. KyberDAO operations are divided into epochs. For example: proposals for voting can be submitted within a duration of 1 epoch, which is about 2 weeks.

Within an epoch, for less critical (short timelock) proposals, it requires approximately 4 days of voting, while for more critical (long timelock) proposals, it takes approximately 7 days. Proposals have to start and end within the same epoch.

What is "Total Staked" and "Current Epoch Votes"?

“Total Staked KNC” means how much of the total KNC supply is currently staked on KyberDAO. Currently, KNC has a total supply of about ~223.4M. If total KNC staked is ~40M KNC, it means about 18% of the total supply is staked.

“Total Voting Rewards” represents the amount of KNC rewards that have been collected (from converting a portion of KyberSwap trading fees) to be distributed to eligible voters.

What if I have more questions?

Join Kyber’s official Discord Server and the KyberDAO Twitter account for the latest updates.

How secure are KyberSwap and KyberDAO?

Kyber Network highly values the security of the KyberSwap protocol and the KyberDAO governance platform.

KyberSwap is fully non-custodial and our users’ funds are not held by KyberSwap. In addition, KyberSwap, KyberDAO, and their associated smart contracts have been audited by reputable audit teams in the blockchain industry, such as Chainsecurity and Hacken.

You can refer to the Audits page for the respective reports.