Aave KNC v1

AKNC, like other aTokens, is used within the Aave ecosystem to denote the amount of a particular cryptocurrency asset (in this case, KNC) that has been supplied to the market, along with the yield earned on that asset. Users can supply assets to the Aave LendingPool, and in return, they receive aTokens (e.g., if you supply 1,000 DAI, you receive 1,000 aDAI). As time passes, the balance of aTokens increases as the yield is added to the initial deposit, and this increased balance can be withdrawn at any time​.

Aave's aTokens, including AKNC, can be transferred, which effectively means transferring the underlying asset. However, only the account holding the aTokens can withdraw the deposited asset. It's also worth noting that aToken transfers will fail if the resulting Health Factor of the user will end up being below 1​.