Kyber Network is a decentralized Ethereum-based solution for providing on-chain liquidity for digital assets. Their ultimate aim is to make exchange, trustless, convenient and secure, and to give users flexibility and choice when it comes to token exchange and payment.
The Kyber Token is used by reserve managers (those who keep tokens available for exchange on the blockchain) to pay a percentage of the value of the transaction on Kyber’s decentralized exchange. Tokens paid are subsequently burnt.
Learn more about Kyber Network here.