KyberSwap is a decentralized exchange aggregator that began providing its services in 2018. Earlier known as the Dynamic Market Maker (DMM), it is now wholly rebranded to KyberSwap, providing multi-chain crypto trading.
With the global adoption of cryptocurrencies right next door, hundreds of new tokens pop up every day. Many users find it extremely difficult to trade their tokens to acquire and swap for new tokens. Most top-tier crypto exchanges have complicated UI, KYC requirements, and hefty fees.
But what if we told you that there is a platform where anybody could swap and earn tokens at the best rate without going through the hassles of KYC and sign-ups? Let us look at KyberSwap, an all-in-one decentralized automated market maker. The platform lets you trade for the best token prices, maximizing liquidity provider earnings.
KyberSwap in a nutshell
KyberSwap is generally a DEX aggregator and a liquidity protocol. The entire vision of the platform is to provide a seamless token-swapping experience for traders. Adding to that, at the same time, it also focuses on maximizing the earnings for liquidity providers.
The platform was earlier called KyberDMM. The rebrand indicates its initiative to provide a dedicated DEX platform. KyberSwap utilizes its dynamic trade routing technology to pour in liquidity from multiple DEXs. The technology also helps to identify the best trade for the users.
The platform encompasses a $24 billion TVL from various 60+ DEXs. It supports up to 11 chains and 20,000+ tokens on its platform. KyberSwap also gained users’ trust, which is visible from its $7.95 billion trading volume to date.
What does KyberSwap bring to the table?
KyberSwap stays dedicated to bringing the best experience to the users for 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. Utilizing the dynamic trade routing feature, the platform helps identify the best price for each trade without any limits.
It aggregates liquidity from various DEXs across 11 chains like QuickSwap, Pancakeswap, Traderjoe, Pangolin. etc. It ensures that the traders are provided with the best rates.
For liquidity providers
The platform lets liquidity providers earn more rewards and fees for the tokens deposited in its pools. It also provides many lucrative yield farming opportunities compared to competitors.
When compared to other AMM DEXs, each pool might have an amplification (AMP) factor. This AMP factor is set by the pool creator. That allows anyone to create a pool on KyberSwap. It also allows liquidity providers to achieve improved liquidity and slippage with the same deposit amount.
For developers
KyberSwap may be integrated into Dapps to give its users access to 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 already incorporated KyberSwap.
The entire process on KyberSwap is trustworthy and safe. Thanks to Chainsecurity and Unslashed, who regularly audit the platform to boost user confidence. The platform is also open for reviews on Github.
Additionally, there are many features to provide benefits to users – such as:
1. Single token deposits into liquidity pools (deposit one token, not 2)
2. Autocompounding of rewards to minimize efforts and maximize returns
3. Anti-sniping features to protect users’ returns from bots looking to enter and exit liquidity pools quickly just before a large volume of trades occur.
KNC token
KNC is the utility token that fuels Kyber Network and KyberSwap. The token holders can stake their tokens and vote to ensure that they receive a part of the trading fees from KyberSwap.
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 supply: 177,809,350
- Already tradable on 100+ markets
KyberSwap goals and the fifth anniversary
With features making them stand out from the competitors, KyberSwap’s goal is to make all of DeFi accessible, easy, rewarding, and safe for all users. The platform promises to continue improving the aggregation algorithm to ensure that the best swap rates are given to users.
The platform also aims to collaborate with different projects to pump the token pair’s availability. It has also partnered up with Polygon, Avalanche, Fantom, NEAR, and Cronos to boost liquidity.
What lies in store for Kyber Network’s fifth anniversary? According to the team, even more integrations and product upgrades will be coming up. Excitingly, their DAO has also voted to utilize 23.7M KNC tokens for trading, liquidity mining, anniversary rewards, and returns to DAO holders.
Final thoughts
KyberSwap has set itself a solid customer base, evident from its $7.95 billion trading volume to date. The platform also has over $24 billion in total value locked from over 60+ DEXs. It supports over 20,000+ token swapping over 11 different chains.
The platform also holds new features that include an upgraded aggregation algorithm. It has passed remarkable growth over the years with its simple and hassle-free user experience. Most importantly, it’s a trustworthy 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 bounty programs in place. As a company, Kyber Network has a public team and a record of five years in blockchain with superior technical execution, zero hacks, and associations with any scams. KyberSwap might be the go-to place for a seamless and private trading experience.
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