KyberSwap is a decentralized exchange aggregator that started its service in 2018. Formerly known as Dynamic Market Maker (DMM), it has now been fully rebranded as KyberSwap, offering multi-chain crypto trading.
With the global adoption of cryptocurrencies just next door, hundreds of new coins appear every day. Many users find it difficult to trade their tokens to acquire and exchange new tokens. Most of the top cryptocurrency exchanges have complicated user interfaces, KYC requirements, and high fees.
But what if we told you that there is a platform where anyone can exchange and earn tokens at the best price without going through the hassle of KYC and registration? Let’s take a look at KyberSwap, an all-in-one decentralized automated market maker. The platform allows you to trade at the best token prices, maximizing the profitability of liquidity providers.
In short, KyberSwap
KyberSwap is generally a DEX aggregator and liquidity protocol. The entire vision of the platform is to provide traders with a seamless token swap experience. In addition to this, at the same time, it is focused on maximizing returns for liquidity providers.
The platform was previously known as Kyber’s DMM protocol. The name change shows its initiative to provide a dedicated DEX platform. KyberSwap leverages its dynamic trade routing technology to inject liquidity from multiple DEXs. The technology also helps identify the best deals for users.
The platform contains $24 billion in TVL from various 60+ DEXs. It supports up to 11 chains and more than 20,000 tokens on its platform. KyberSwap has also gained the trust of its users, as evidenced by its $7.95 billion in trading volume to date.
What does KyberSwap bring?
KyberSwap always strives to bring the best experience for users to exchange tokens and earn interest. Additionally, the team focuses on delivering the best user experience possible. The platform focuses not only on traders, but also liquidity providers and developers.
Provides a seamless experience to access thousands of tokens. Utilizing dynamic transaction routing capabilities, the platform helps determine the best price for each transaction without any restrictions.
It aggregates the liquidity of various DEXs in 11 chains including QuickSwap, Pancakeswap, Traderjoe, Pangolin, etc. Wait for it to ensure the best price for traders.
For liquidity providers
The platform enables liquidity providers to earn more rewards and fees for tokens deposited into their pools. It also offers many lucrative yield farming opportunities compared to its competitors.
Each pool may have an amplification (AMP) factor compared to other AMM DEXs. This AMP factor is set by the pool creator. This allows anyone to create a pool on KyberSwap. It also allows liquidity providers to achieve better liquidity and slippage with the same deposit amount.
KyberSwap may be integrated into Dapps to give its users the deepest liquidity and best swap prices. Any Dapp or DEX aggregator is welcome to participate.
Coin98 Wallet, DEXTools, Kattana Trade and other leading aggregators including 1inch, Paraswap, Matcha and Slingshot have merged with KyberSwap.
The entire process on KyberSwap is trustworthy and secure. Thanks to Chainsecurity and Unslashed, who regularly audit the platform to increase user confidence. The platform is also open for comment on Github.
In addition, there are many features that can benefit users, such as:
1. Deposit a single token into the liquidity pool (deposit one token, not two)
2. Automatic Combination of Rewards to Minimize Effort and Maximize Return
3. The anti-sniper function protects the user’s returns from bots that quickly enter and exit the liquidity pool before a large number of transactions occur.
KNC is the utility token that powers Kyber Network and KyberSwap. Token holders can stake their tokens and vote to ensure they receive a portion of transaction fees from KyberSwap.
Additionally, the popular KNC token is used as a native token on KyberSwap for many of its trading competitions, liquidity mining campaigns, and more.
Code: KNCToken Standard: ERC-20 Total Supply: 177,809,350 Already traded on more than 100 markets
KyberSwap Goals and 5th Anniversary
With features that set it apart from its competitors, KyberSwap aims to make all DeFi accessible, easy, beneficial, and safe for all users. The platform promises to continue improving the aggregation algorithm to ensure the best exchange rate for users.
The platform also aims to work with different projects to increase the usability of token pairs. It has also partnered with Polygon, Avalanche, Fantom, NEAR and Cronos to improve liquidity.
What are the preparations for the fifth anniversary of Kyber Network? According to the team, there will be more integrations and product upgrades. Excitingly, their DAO also voted to use 23.7 million KNC tokens for trading, liquidity mining, annual rewards, and returns to DAO holders.
KyberSwap has built a solid client base for itself, as can be seen from the $7.95 billion in trade volume to date. The platform has also locked more than $24 billion in total value from more than 60 DEXs. It supports over 20,000+ token exchanges over 11 different chains.
The platform also boasts new features including an upgraded aggregation algorithm. It has grown significantly over the years with its simple, hassle-free user experience. Most importantly, it is a trusted platform where you can use DeFi with confidence.
The platform’s smart contracts are audited and KyberSwap is insured. It also has a robust bounty program. As a company, Kyber Network has a public team and five-year blockchain track record with excellent technical execution, zero hacks, and association with any scams. KyberSwap may be the go-to place for a seamless and private trading experience.
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