KyberDAO recently approved KIP-6 to migrate and upgrade $KNC to make the token more dynamic with the ability to support efficient upgrades, while giving greater control to KyberDAO. The KNC Migration Process has begun on April 20, 2021, with no hard deadline at this moment (August 2021). The migration ratio is 1:1, meaning 1 old KNC will be migrated to 1 new ERC-20 KNC token.

To avoid confusion, it is recommended that the old token be labeled as KNC Legacy (KNCL), while the new token will retain the original ticker KNC. KNC remains an ERC-20 token.

For KNC holders managing their own tokens on self-custodial wallets such as Metamask, Krystal, Ledger, Trezor, Keystore, etc., you can convert to the new KNC token on your own via the Migration Portal on kyber.org/migrate.

IMPORTANT: Please make sure not to transfer KNCL tokens to a centralized exchange that only supports upgraded KNC. Doing so might result in a loss of funds.

For more information, you can visit the new KNC page on BYDFi: https://BYDFi.com/currencies/kyber-network-crystal-v2/