Coinbase to help new KNC. KNC improve will occur on or round… | by Kyber Community | Jul, 2022

What’s the begin and finish date of the migration to the brand new KNC?

Improve at the moment deliberate for 1 August, 2022, on or round 12 PM PT. We estimate this improve to take about 24 hours.Updates shall be posted on the Coinbase Standing web page: http://standing.alternate.coinbase.com

Will deposits and withdrawals be disabled for a time interval through the migration to the brand new KNC?

Throughout this improve, deposits and withdrawals for KNC shall be paused and any deposits of KNC into Coinbase will lead to misplaced funds. Buying and selling for KNCL will not be impacted. We estimate this improve to take about 24 hours.Don’t try and deposit previous KNCL or new KNC through the improve interval as it is going to lead to misplaced funds.

Will customers’ previous KNCL on Coinbase be mechanically transformed to new KNC through the migration interval?

Sure. This solely applies solely to previous KNCL at the moment on Coinbase. After the improve, previous KNCL gained’t be accepted / shall be thought of an unsupported asset and sending previous KNCL to Coinbase will lead to a lack of funds.

Will KNCL buying and selling nonetheless be lively through the migration interval?

Buying and selling for KNCL will not be impacted through the migration interval, however deposits and withdrawals shall be paused.Don’t try and deposit previous KNCL or new KNC through the improve interval as it is going to lead to misplaced funds.

What would be the ticker of the brand new KNC on Coinbase?

It can stay the identical — KNC

Will customers who despatched new KNC to Coinbase earlier be capable to retrieve their funds? In all supported jurisdictions?

Sure. Coinbase customers will see the respective stability after the improve is finished. Nonetheless, there could also be a delay in stability refreshes of roughly 48 hours in some circumstances.

Will KNC buying and selling be obtainable in all supported jurisdictions?

As soon as the improve is finished, who do I strategy for assist in the occasion that I can not retrieve a number of the new KNC I despatched to my Coinbase account pre-upgrade?

Can customers deposit and withdraw new KNC on Coinbase after the migration?

Is the previous KNCL nonetheless accepted for deposit and withdrawals on Coinbase after the migration interval? Or will this lead to a lack of funds?

After the improve date, sending and receiving previous KNCL tokens will NO longer be obtainable. These deposits wouldn’t be supported and shall be handled as an unsupported digital foreign money.Depositing unsupported property in your Coinbase account will trigger you to completely lose them.

Will Coinbase Retail, Professional, and Prime additionally help the brand new KNC?

Sure, however solely after the improve.

Why is that this migration required and why did the migration take this lengthy?

The improve is required because the Kyber staff proposed a Kyber Community Crystal (KNC) token improve and migration to make KNC far more dynamic and versatile with the power to help extra environment friendly upgrades. Coinbase labored carefully with the Kyber staff to ensure our safety considerations with the brand new KNC token have been addressed, and that Kyber’s proposed enhancements met Coinbase’s technical safety necessities such that the brand new KNC token may very well be listedKIP-19 https://kyber.org/proposal/11 was proposed and accepted earlier by KyberDAO to fulfill Coinbase’s technical safety necessities. Governance parameters have been calibrated to allow increased Voting Quorum, increased Vote Differential, and adjustments to Kyber Ecosystem Delegates — leading to a extra sturdy KyberDAO!

If I maintain previous KNCL now by myself pockets (not on Coinbase), how can I migrate to new KNC?

We want to thank our superior neighborhood on your type understanding, endurance, and help throughout this token migration course of and getting the brand new KNC listed on Coinbase.

$KNC will at all times stay an vital a part of Kyber Community, KyberSwap, and KyberDAO! Onwards and upwards!