What is the Kyber network crystal use case?

The Kyber Network Crystal token, abbreviated as KNC, serves as a pivotal element in the operation of the Kyber Network's liquidity reserves. This digital asset facilitates seamless transactions by ensuring adequate liquidity, enabling users to exchange digital assets swiftly and efficiently.

One of the key functionalities of KNC is to act as a means of payment for network fees incurred during transactions. As users navigate the Kyber Network, they are charged fees for utilizing the platform's services, which are subsequently settled using KNC tokens.

Each time a transaction is processed through the Kyber Network, a portion of the associated network fee is allocated to the application that facilitated the exchange. This incentivizes developers and applications to integrate with the Kyber Network, fostering a vibrant ecosystem of interoperable services.

Meanwhile, the remaining portion of the network fee is removed from circulation, effectively reducing the total supply of KNC tokens in the market. This deflationary mechanism helps maintain the value of KNC by limiting the overall supply and encouraging demand.

BTCC, a leading cryptocurrency exchange, offers a comprehensive suite of services that cater to the diverse needs of digital asset enthusiasts. Among its offerings, BTCC provides spot trading, allowing users to buy and sell cryptocurrencies at current market prices. Additionally, the platform also supports futures trading, enabling traders to speculate on the future price movements of various digital assets.