Due to a recent upgrade, there are currently two versions of KNC: the old version, KNC Legacy (KNCL) and the new version, Kyber Network Crystal (KNC). As of now, we only support KNCL, and all mentions of KNC in the Coins.ph refers to KNCL. This means that you can only send, receive and convert legacy KNC tokens in the Coins.ph app.
Please go through the following paragraphs for more information related to the upgrade and the integration of KNC in Coins.ph.
What are the details of the Network Crystal (KNC) upgrade?
On April 20, 2021, the Kyber team released a newer version of the KNC token that would allow for more efficient changes. This upgrade, officially referred to as KIP-6, changed the design of the KNC network to enable upgrades without interrupting usage, dynamic token supply, and greater control to KNC holders.
Due to the nature of the upgrade, there is a transition process to convert tokens from the legacy version to the newer version. No hard deadline has been set for the end of the transition period. Although the two versions of the tokens are distinct, both versions are usable for customers and are running in parallel.
We would like to remind customers that Coins.ph is currently supporting the legacy version of KNC (KNCL). All reference of KNC in the Coins.ph platform refers to the legacy version (KNCL). Our Technical Team is working on the migration process of the KNC tokens and will provide an announcement once this has been completed.
If you are sending and receiving KNC tokens with your Coins.ph account, please make sure that the legacy version is used for the transfer. We do not support the newer version of the KNC tokens and, therefore, cannot recover these tokens, if sent to your Coins.ph wallet.
You may check the details of the upgrade in this link.
When will Coins.ph support the upgraded Kyber Network Crystal (KNC) tokens?
There is no estimate yet on when Coins.ph will migrate the version of the KNC tokens in the platform. Since the Kyber team has not yet set a hard deadline for the migration process, both versions of the KNC tokens will run in parallel.