KyberSwap is a decentralized exchange (DEX) aggregator that began offering its services in 2018. Previously known as Dynamic Market Maker (DMM), the now fully rebranded KyberSwap protocol offers a multi-chain cryptocurrency trading service .
With the impending global adoption of cryptocurrencies, hundreds of new tokens are appearing every day. Many users find it extremely difficult to exchange their tokens for new tokens.
Most top-tier cryptocurrency exchanges have a complicated user interface, certain KYC requirements, and high fees.
What if we told you that there is a platform where everyone can trade and earn tokens at the best rate, without going through the hassle of KYC and registrations?
So let’s take a look at KyberSwap, an all-in-one decentralized automated market maker. Its platform allows you to trade tokens at the best prices, maximizing earnings from liquidity providers.
KyberSwap Quick Overview
In summary, KyberSwap is a DEX aggregator and liquidity protocol. The overall vision of the platform is to provide a seamless token trading experience for traders. It also aims to maximize earnings for liquidity providers.
Previously, the platform was called KyberDMM. This name change demonstrates its initiative to provide a DEX platform specifically dedicated to this purpose. KyberSwap uses its dynamic transaction routing technology to deliver liquidity from multiple decentralized exchanges. This technology also helps identify the best transaction for users.
The platform aggregates a total thief locked (TVL) of $24 billion from over 60 DEXs. Its platform supports up to 11 chains and over 20,000 tokens. KyberSwap has also earned the trust of its users, as evidenced by its $7.95 billion trade volume to date.
How is the KyberSwap AMM different?
KyberSwap strives to provide its users with the best possible experience when it comes to trading and earning tokens. Moreover, the team is keen on providing the best user experience. The platform is not only aimed at traders but also at liquidity providers and developers.
The platform offers a seamless experience with thousands of tokens available. Thanks to the dynamic transaction routing function, it identifies the best price for each transaction, without any limits.
KyberSwap aggregates liquidity from various DEXs across 11 channels, such as QuickSwap, Pancakeswap, Traderjoe, Pangolin, etc. The platform makes sure traders get the best rates.
For liquidity providers
The platform allows its liquidity providers (LPs) to earn more rewards and commissions for tokens deposited in its pools. It also offers many lucrative yield farming opportunities compared to its competitors.
Compared to other DEX MAs, each pool can feature an amplification factor (AMP). This AMP factor is set by the pool creator. This allows anyone to create a pool on KyberSwap, in addition to providing LPs with the ability to achieve better liquidity and slippage with the same amount of deposit.
KyberSwap can be integrated with dApps to give its users access to the highest volume of liquidity and the best swap prices. Any dApp or DEX aggregator is welcome to participate.
Coin98 Wallet, DEXTools, Kattana Trade and other top aggregators such as 1inch, Paraswap, Matcha and Slingshot have already integrated KyberSwap.
The entire process on KyberSwap is reliable and secure, thanks to Chainsecurity and Unslashed, who regularly audit the platform to build user trust. The platform is also open for reviews on Github.
Likewise, there are many beneficial features for users, such as:
- Single token deposits in the liquidity pools (the option to deposit one token and not two).
- A self-composition of awards to minimize effort and maximize returns.
- Anti-sniping features in order to protect user returns from bots looking to quickly enter and exit liquidity pools just before a large trading volume.
The KNC token
KNC is the utility token that supports Kyber Network and KyberSwap. Token holders can stake them and vote to ensure they receive a portion of KyberSwap’s transaction fees.
Additionally, the famous KNC token also serves as a native token on KyberSwap for many of its trading contests, liquidity mining campaigns, etc.
- Ticker: KNC
- Token standard: ERC-20
- Total supply: 177,809,350
- Already open for trading on over 100 platforms
The goal of KyberSwap and its 5th anniversary
With features that set it apart from its competitors, KyberSwap aims to make decentralized finance (DeFi) accessible, simple, profitable and safe for everyone. The platform promises to keep improving its aggregation algorithm to ensure its users the best swap rates.
The platform also aims to collaborate with different projects to increase the availability of token pairs. It has further partnered with Polygon, Avalanche, Fantom, NEAR and Cronos to boost its liquidity.
What does Kyber Network’s fifth anniversary have in store for us? According to the team, new product integrations and updates are on the way. Interestingly, its DAO also voted the use of 23.7 million KNC tokens for trading, liquidity mining, rewards for its celebration, and returns to DAO holders.
KyberSwap has built a solid customer base, as evidenced by its trade volume to date standing at $7.95 billion. The platform also boasts a TVL of over $24 billion from over 60 DEXs. It supports over 20,000 token exchanges on 11 different chains.
The platform also has new features, including an improved aggregation algorithm. Over the years, it has grown remarkably thanks to its simple and hassle-free user experience. More importantly, it is a trustworthy platform where you can use DeFi with peace of mind.
Its smart contracts are audited, and KyberSwap has insurance. The platform also has strong bounty programs in place. As a company, Kyber Network has a public team and has 5 years of experience in the blockchain field, backed by superior technical execution, having not been hacked or suffering from any association with any scam. KyberSwap might just be the place for an easy and private trading experience.
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