How KyberSwap is Revolutionizing DeFi Trading: A Comprehensive Review
Finding the best rates for trading digital assets can be a tedious and time-consuming process, especially if you want to get the best possible price for your trades. This is because the cryptocurrency market is highly volatile, with prices fluctuating rapidly and frequently.
When looking for the best rates for trading digital assets, conducting thorough research and analysis of the market is crucial. This involves keeping track of the prices of various cryptocurrencies and exchanges, studying trading charts and indicators, and staying up-to-date with the latest news and developments in the industry. Fortunately, innovative platforms like KyberSwap have emerged, offering a streamlined DeFi trading experience that can simplify this process.
This article explores KyberSwap and what sets it apart from other DeFi platforms. It also highlights the platform’s cutting-edge technology that enables traders to maximize returns for liquidity providers. We will also delve into KyberSwap’s unique features, such as its DMM feature, aggregator, and the opportunities available in the KyberSwap space. Let’s go!
What is KyberSwap?
KyberSwap is a next-gen DEX aggregator that provides the best rates for traders and maximizes returns for liquidity providers in DeFi. It boasts over 100 integrated projects and over $17 billion worth of transactions facilitated. It is the go-to choice for thousands of users worldwide.
With its deployment on 13 chains — including big names like Ethereum, Polygon, BNB Chain, Avalanche, Fantom, Cronos, Arbitrum, BitTorrent, Velas, Aurora, Oasis, Optimism, and Solana — KyberSwap is bringing the best rates possible to users through its aggregation of liquidity from over 80 DEXs.
What sets KyberSwap apart from other DeFi platforms?
It is the first platform to introduce a Dynamic Automated Market Maker (DMM) system that automatically and seamlessly exchanges cryptocurrencies across different blockchain networks.
This DMM determines the optimal price for crypto assets based on supply and demand, ensuring that liquidity providers get the best possible returns. With just one click, KyberSwap finds the best rates for you, so you can focus on trading, not searching. Whether you’re a seasoned DeFi trader or just getting started, KyberSwap caters for all your trading needs.
The KyberSwap Aggregator
KyberSwap Aggregator connects traders and applications to decentralized exchanges across multiple chains, enabling users to swap at the best rates. By optimizing trade routes through both AMM and Order Book DEXs, KyberSwap Aggregator discovers the most capital efficient liquidity sources, ensuring the best swap rates and encouraging market stability.
But that’s not all, developers can now benefit from KyberSwap Aggregator’s APIs, enabling them to discover the best DEXs to route their swap via a single API call. Plus, developers have the flexibility to customize fees and choose the token they’d like to accept fees in.
Also, KyberSwap Aggregator has integrated Limit Order feature to efficiently serve traders with more trade-type options.
Farming on KyberSwap
You can earn yield farming rewards on KyberSwap by contributing liquidity with either the Classic pool or the Elastic pool.
Classic pools
Unlike the regular AMM model that uses a fixed pricing curve, regardless of the correlation between token pairs, resulting in unutilized funds and lower LP incentives, KyberSwap Classic is designed to amplify capital efficiency and reduce slippage for traders based on token correlation.
It also auto-adjust trading fees to take advantage of market conditions.
Elastic pools
KyberSwap Elastic is a new and improved version of KyberSwap Classic, which allows liquidity providers to determine their preferred liquidity price ranges while maximizing returns. It incorporates emerging liquidity concepts from Uniswap V3.
Also, LPs unclaimed rewards can be compounded to add to their positions, rather than having to claim first before compounding (if the user wishes to).
The $KNC token 🎟️
Kyber Network Crystal (KNC) is the utility token of KyberSwap. Holders of $KNC have the opportunity to participate in the governance of Kyber Network and the KyberSwap trading platform. By staking their $KNC tokens, they can vote on important proposals and receive rewards in $KNC from trading fees collected through KyberSwap activities.
$KNC is a dynamic token that can be upgraded, minted, or burned by KyberDAO to better support liquidity and growth. To stake $KNC, all you need is an Ethereum wallet that holds $KNC tokens, but note that only $KNC on the Ethereum network can be staked due to the DAO smart contracts being on the Ethereum network.
You can check out the guide on his to stake your $KNC here:
https://docs.kyberswap.com/governance/kyberdao/user-guides/participating-in-KyberDAO
Another way to utilize your $KNC tokens is by providing liquidity to either KyberSwap Classic or Elastic, either to an existing pool or as part of creating a new pool and earn juicy rewards.
KyberDAO
Kyber decentralized Autonomous organization is a community platform that empowers $KNC token holders to participate in Kyber Network governance and KyberSwap trading platform.
If you own $KNC, you’re more than just a holder — you’re also a decision-maker. By staking your tokens, you can actively participate in voting for important proposals that will shape the future of KyberSwap. And as a token of gratitude, you’ll also receive KNC rewards, earned from a fraction of the trading fees collected during KyberSwap’s high-volume trading activities.
KyberDAO aims to serve 3 key groups of Kyber stakeholders —
1. KyberSwap liquidity providers and partners.
2. Dapps/traders who connect to Kyber to use its liquidity.
3. KNC holders who are at the heart of Kyber.
Trending features
Also, do well to check out KyberSwap’s trending token feature! By just clicking “Discover” on the KyberSwap site, you can access two exciting phases: “trending soon 🚀” and “trending 🔥”
These features allow you to stay ahead of the trendby identifying tokens that are gaining momentum or currently trending in a big way. Who knows, you might even discover the next alpha.
Security on KyberSwap:
KyberSwap takes security seriously. As a fully non-custodial platform, it puts users in full control of their funds and assets. Plus, the platform and its associated smart contracts have been rigorously audited by reputable teams in the blockchain industry, such as Chainsecurity and Hacken. So, you can rest easy knowing that your assets are in safe hands with KyberSwap.
Learn more about KyberSwap via:
Website: https://kyberswap.com/
Twitter: https://twitter.com/kybernetwork/
Discord: https://discord.com/invite/KyberSwap
Telegram: https://t.me/kybernetwork
Youtube: https://www.youtube.com/channel/UCQ-8mEqsKM3x9dTT6rrqgJw/
