Kyber Network announces date of second KyberDAO Experiment
Kyber Network is a Decentralized Exchange protocol running on top of the Ethereum Blockchain. It is one of the top decentralized exchanges in Ethereum with an average volume of around 1 million dollars. This project raised 49 million dollars in its ICO in 2017.
And now, they are planning on releasing some of those funds to a DAO account which is meant for improving the platform. The project had plans for a DAO from the start of its ICO. The first DAO experiment was performed in Aragon platform. But the turnout was very low. The first experiment wasn't very important and no money was involved.
It worked as a stepping stone for the second experiment which will take place in 21st June 9pm GMT+8. The network snapshot will be taken in 17th June. Users must move their KNC to a metamask wallet if they want to participate in the DAO.
Pre-experiment screenshot date: the Ethereum address screenshot date will be on Monday, 17th June 7pm GMT+8. Please make sure you deposit KNC into your desired voting addresses by that date and time.
Duration: Experiment #2 starts on Friday, 21st June 9pm GMT+8, a few days after the screenshot date. Each new regular proposal has a time period of 7 days, after which it will expire. Experiment #2 will officially end after 60 days, or when the DAO funds are depleted.
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