Kyber-Wanchain to combine efforts to build decentralized cross-chain digital asset trading and circulation platform

Austin, TX- February 13, 2018 Wanchain, a distributed financial infrastructure powered by "privacy protection + cross-chain + smart contracts," today announced a partnership with KyberNetwork, an ethereum-based decentralized exchange that facilitates real-time trading and circulation of cryptocurrencies, under which the two companies will establish the Kyber-Wanchain decentralized exchange "KWDEX.

"This is an exciting time for the blockchain industry and the new digital economy." The previous centralized transaction model has somewhat hindered the unleashing of the potential and power of the new digital economy due to security risks and lack of trustworthiness. Today, we are pleased to announce our partnership with Kyber, and in the future, Kyber will create decentralized transactions on the cross-chain foundation platform of the World Wide Web, and our vision for the new digital economy will be realized," said Xujun Lu, founder of the World Wide Web. "

On January 18, 2018, Wanchain launched version 1.0 of its smart contract with ring signature and privacy protection first. In their next generation 2.0 software release, cross-chain transactions will be implemented. The deep partnership with Kyber will help decentralized trading's (DEX), providing deep liquidity as well as instant and private trading of protocol tokens such as Bitcoin, Litecoin and Monroe.

The combination of Kyber's DEX and Wanchain's cross-chain technology means that KWDEX will provide decentralized multi-asset cross-chain transactions for the entire digital asset space. Users' multi-currency transactions are no longer subject to having to go through a centralized exchange, which can avoid risks such as asset theft and seizure.

As network passes, KyberNetwork Tokens (KNC) will be transferred for use in KWDEX through Wanchain's cross-chain technology, while retaining the rights to use its decentralized exchange based on the Ether platform.

The creation of this partnership is the first step in realizing the vision of Kyber Network and Wanchain to greatly leverage the respective strengths of both companies and take both teams to new industry heights," said Loi Luu, founder of KyberNetwork. Through this collaboration, we can greatly expect more cross-chain assets to circulate and trade freely, and more imaginative innovations and applications to be pushed to the forefront of technology, thus bringing greater benefits to our society. "

In addition to KWDEX, Wanchain will collaborate with Kyber Network on the PeaceRelay project, which aims to bridge different blockchain networks developed on Ether technology, such as bridging communication and interaction between Ether and Ether Classic. Loi Luu, founder of KyberNetwork, will also join Wanchain as an advisor to facilitate the partnership.

“Kyber NetworkharmonyWanchain Both work on building blockchain interoperability solutions， to address the blockchain's“ intercommunication” issues。" President of Wanwei ChainDustin Byington express。“ We are delighted to be working withLoi LuuharmonyKyber Teamwork to address these issues， This is very important for the future of our industry and the new digital economy。”

About Kyber Network

Kyber Network is a trustless decentralized exchange that facilitates instant conversion/exchange between crypto assets. With Kyber Network, users can pay the corresponding recipient who wishes to be paid in token B with token A. The whole process is done in one step. Not only that, but Kyber Network is also introducing a new smart contract interface that allows existing wallets that only accept specific tokens to accept any existing or possible future tokens without requiring changes to the token contract code. Learn more at the official website: https://kyber.network

About World Wide Web

Wanchain is a financial infrastructure platform consisting of three main features: privacy protection + cross-chain + smart contracts. The headquarters are located in Austin, USA and Beijing, China. The Wanchain Foundation, a non-profit organization registered in Singapore, is responsible for the overall operation of the project; it will be incubated and supported by Netrec Technology in the early stages, and will then be handed over to the community for management. Netrec Technology focuses on blockchain business application research and development and was founded in July 2016 with investment from Grand River Capital and Wanxiang Distributed Fund. For more information, please visit Wanchain's official website at wanchain.org

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