KyberSwap is a decentralized exchange aggregator offering its services in 2018. Formerly known as Dynamic Market Maker (DMM), it has now been fully rebranded as KyberSwap and offers multi-chain crypto trading.
With the global adoption of cryptocurrencies just around the corner, hundreds of new tokens are popping up every day. Many users find it extremely difficult to trade their tokens to acquire and exchange for new tokens. Most top-tier crypto exchanges have a complicated user interface, KYC requirements, and high fees.
But what if we told you that there is a platform where everyone can trade and earn tokens at the best price without worrying about the hassles of KYC and signups? Let’s look at KyberSwap, an all-in-one decentralized automated market maker. The platform allows you to trade at the best token prices, maximizing the liquidity provider’s earnings.
KyberSwap in a nutshell
KyberSwap is a DEX aggregator and liquidity protocol in general. The entire vision of the platform is to provide traders with a seamless token swapping experience. In addition, the focus is also on maximizing earnings for liquidity providers.
The platform was formerly called Kyber’s DMM protocol. The renaming indicates the initiative to provide a dedicated DEX platform. KyberSwap uses its dynamic trade routing technology to inject liquidity from multiple DEXs. The technology also helps identify the best trades for users.
The platform includes a TVL of $24 billion from various 60+ DEXs. It supports up to 11 chains and more than 20,000 tokens on its platform. KyberSwap has also gained users’ trust, which can be seen from its trading volume to date of $7.95 billion.
What does KyberSwap bring to the table?
KyberSwap remains committed to providing users with the best experience of swapping and earning interest on tokens. Additionally, the team focuses on providing the best user experience. The platform not only focuses on traders but also on liquidity providers and developers.
For traders
Provides a seamless experience with access to thousands of tokens. Using the dynamic trade routing feature, the platform helps determine the best price for each trade without any restrictions.
It aggregates liquidity from different DEXs across 11 chains like QuickSwap, Pancakeswap, Traderjoe, Pangolin. etc. It ensures traders are getting the best rates.
For liquidity providers
The platform allows liquidity providers to earn more rewards and fees for the tokens deposited in their pools. It also offers many lucrative yield farming opportunities compared to competitors.
Compared to other AMM DEXs, each pool can have an amplification factor (AMP). 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 improved liquidity and slippage for the same deposit amount.
For developers
KyberSwap can be integrated with Dapps to give its users access to the deepest liquidity and the 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 already integrated KyberSwap.
The whole process on KyberSwap is trusted and secure. Many thanks to Chainsecurity and Unslashed for regularly reviewing the platform to increase user trust. The platform is also open to reviews on Github.
In addition, there are many features that provide benefits to users – such as:
1. Individual token deposits into liquidity pools (deposit one token, not 2)
2. Auto-compounding rewards to minimize effort and maximize returns
3. Anti-sniping features to protect users’ earnings from bots trying to quickly enter and exit liquidity pools just before a large trading volume occurs.
KNC token
KNC is the utility token that powers Kyber Network and KyberSwap. Token holders can stake and vote their tokens to ensure they receive a share of KyberSwap’s trading fees.
Additionally, the popular KNC token is also used as a native token on KyberSwap for many of its trading competitions, liquidity mining campaigns, and more.
- Ticker: KNC
- Token Standard: ERC-20
- Total offer: 177,809,350
- Already tradable on over 100 markets
KyberSwap Goals and the Fifth Anniversary
With features that set them apart from the competition, KyberSwap’s goal is to make DeFi accessible, easy, rewarding, and secure for all users. The platform promises to keep improving the aggregation algorithm to ensure users are offered the best swap rates.
The platform also aims to work with various projects to increase the availability of the token pair. It has also partnered with Polygon, Avalanche, Fantom, NEAR and Cronos to boost liquidity.
What can we expect for the fifth anniversary of Kyber Network? More integrations and product upgrades are to come, according to the team. Excitingly, their DAO also voted to use 23.7 million KNC tokens for trading, liquidity mining, anniversary rewards, and returns to DAO holders.
Final Thoughts
KyberSwap has built a solid customer base as evidenced by its $7.95 billion trading volume to date. The platform also has over $24 billion in aggregate value locked from over 60 DEXs. It supports over 20,000+ token swaps across 11 different chains.
The platform also includes new features, including an improved aggregation algorithm. It has seen remarkable growth over the years with its simple and hassle-free user experience. Most importantly, it is a trusted platform where you can use DeFi with peace of mind.
The platform’s smart contracts are audited and KyberSwap is insured. It also has robust rewards programs. As a company, Kyber Network has a public team and a track record of five years in blockchain with superior technical execution, zero hacks and associations with any scams. KyberSwap could be the go-to place for a seamless and private trading experience.
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