KyberSwap is a decentralized exchange (DEX) aggregator and liquidity protocol that provides capital-efficient and higher returns for liquidity providers while achieving the best rates for crypto traders. KyberSwap is Kyber Network’s main liquidity protocol.
In the near future, CyberSwap plans to expand to additional networks including Ethereum, Polygon, BSC, Avalanche, Fantom, and Cronos.
KyberSwap’s advantages #
KyberSwap offers traders and liquidity providers powerful advantages not available on other AMMs/DEXs. In one user-friendly, secure interface, traders are able to make efficient swaps at the best rates and liquidity providers are rewarded with higher returns. KyberSwap is already used by thousands of traders and liquidity providers.
For Traders #
KyberSwap aggregates liquidity from over 30 different DEXs including Uniswap, Sushi, Curve, QuickSwap, Pancakeswap, Traderjoe, Pangolin, SpookySwap, SpiritSwap, VVS Finance and many more to offer traders the best rates. With over 20,000 tokens supported, the combined total value locked (TVL) from integrated DEXs has exceeded $26B. The trading volume of KyberSwap has exceeded $4 billion.
KyberSwap’s Dynamic Trade Routing algorithm aggregates liquidity, automatically searching multiple DEXs to find and select optimal trade routes and best prices for you on Ethereum, Polygon, BSC, Avalanche, Fantom, Cronos, and other networks. Discover which DEXs were involved in the trade and the % split between them, as well as the amount you saved.
For Liquidity Providers #
Besides offering the best rates, KyberSwap is also an ideal place for traders to park liquidity to earn more from crypto assets. By creating or adding liquidity to KyberSwap’s amplified liquidity pools, liquidity providers can improve capital efficiency. Each pool has an amplification factor (AMP) that allows liquidity providers to achieve better liquidity and slippage with the same deposit amount as other typical AMM DEXs.
In Dynamic Fees, liquidity providers are able to earn more by adjusting fees based on market conditions, which allows them to maximize returns and reduce the impact of impermanent losses. Fees collected by liquidity providers totaled over $17M.
By depositing tokens into KyberSwap pools, liquidity providers earn more fees and rewards on their crypto assets. With amplified pools and lucrative yield farming opportunities, you will have much higher capital efficiency. Any token liquidity provider can participate in KyberSwap without permission.
For Yield Farmers #
KyberSwap yield farming program, Rainmaker, allows users to earn rewards by adding liquidity and staking the corresponding LP (liquidity provider) tokens on to the eligible Rainmaker farms. Over $30M in yield farming rewards have been distributed, with more on the way.
KNC rewards received can be added on KNC liquidity pools or KyberDAO for additional KNC rewards or on KrystalGO for their token sale allocations.
For Developers #
KyberSwap enables Dapp developers to integrate KyberSwap to offer their users deep liquidity and the best swap rates. Anyone can use this, including DEX Aggregators. KyberSwap is already integrated by top Dapps such as Coin98 Wallet, DEXTools, Kattana Trade, Rome Terminal, as well as top Aggregators such as 1inch, Paraswap, 0x API, Matcha and Slingshot.
Several major data analytics sites track KyberSwap statistics, including CoinGecko, Coinmarketcap, DeFi Pulse, DeBank, DeFi Llama, vfat.tools, APY.vision, Token Terminal, The Graph, and DEXTools.
For developers who wish to integrate KyberSwap into their own DeFi Dapps, be it for enhanced decentralized trading, liquidity provision, or yield farming.
Committed to Security #
KyberSwap’s reliability and security allow users to trade with confidence. The codebase has been audited by external auditors such as Chain Security and is open source on Github for community review. In addition, KyberSwap does not use 3rd-party oracles, so it is not exposed to external risk, and it is insured by uncentralized insurance provider Unslashed Finance up to $20 Million.
For their liquidity needs, DeFi and GameFi projects are choosing the capital-efficient KyberSwap protocol. For example, Sipher has set up a pool and is running one of the largest GameFi campaigns ever with KyberSwap, a $50M liquidity mining campaign.
LP (liquidity provider) token holders can earn $50M in liquidity mining rewards by adding any amount of liquid to the eligible SIPHER-ETH pool on KyberSwap and staking their corresponding LP (liquidity provider) tokens on the ‘Farms’ page. The liquidity providers will then receive KNC rewards, which can be added to KNC liquidity pools, on KyberDAO for additional KNC rewards, or on KrystalGO for their token sale allocations.
KyberSwap will also provide liquidity providers with Kyber Staked LP (SLP) tokens that represent the staked SIPHER LP positions when they stake their LP tokens on KyberSwap. This KyberSLP can then be deposited on the Sipher portal to generate SIPHER rewards. Read more aquí.
Future goals #
KyberSwap is well positioned to grow thanks to its many advantages over other DEX platforms. We will raise awareness of KyberSwap’s benefits and drive user adoption in the next few months.
The DEX aggregation algorithm will continue to be enhanced by deploying on many other networks and integrating liquidity sources from all popular DEXs on each network in order to achieve the best swap rates.
In addition to increasing the variety of token pairs and enhancing liquidity (and increasing TVL) in the liquidity pools, we also work with top projects. Upon the completion of their token sales, projects such as Pegaxy, DeFi Warrior, Elpis Battle, ZukiMoba, Unbound, Evrynet, StepHero, Sipher, and many others chose KyberSwap to be their liquidity platform of choice. To boost liquidity for their ecosystems, we have partnered with Polygon, Avalanche, Fantom, NEAR, and Cronos.
KyberSwap will also present its advanced research on possible L2/scaling solutions for users and the entire ecosystem.
Throughout KyberSwap, the (Kyber Network Crystal) KNC token will continue to play an increasingly important role, incentivizing trading and liquidity, and enabling governance. The growth of KyberSwap will greatly benefit holders of the KNC token.
Kyber is a community-driven project, and we are always open to suggestions for improvement, whether it is regarding UI/UX, liquidity, or integrations.
You can join the Kyber community on Discord and Telegram.
Open KyberSwap, connect your crypto wallet, go to the ‘Swap’ page, select which token you want to swap from and to, and enter the desired trade size. Registration is not required. There are various crypto wallets you can use, including Metamask, Ledger, Coinbase wallet, and WalletConnect (for mobile wallets).
Using KyberSwap’s dynamic trade routing technology, you can see approximately how much you save from each trade as we aggregate liquidity from multiple DEXs to get the best prices for you.
Adding Liquidity #
KyberSwap is permissionless, which means that anyone can create a liquidity pool or add liquidity (list and add tokens to existing pools), and any Dapp, aggregator, or end user can use this liquidity.
You can add liquidity by selecting the token pair under the ‘Pools’ tab. The pool options will be displayed. Under ‘Add Liquidity’, select the pool to which you wish to add liquidity. Input the number of tokens you wish to add. It must match the ratio required by the pool.
Liquidity can be deposited in two ways: either according to the pool ratio of the token pair (the standard method), or as a single token deposit. By converting your single token deposit and adding liquidity based on your pool ratio, the Single Token Deposit feature will convert your single token deposit seamlessly. Likewise, you have the option of removing liquidity and receiving it in a single token type.
In return for adding liquidity, you will receive a token called Kyber Liquidity Provider Tokens (LP tokens), which represents your liquidity position. Each trade you execute will earn you fees. When you remove your liquidity, you automatically receive fees that have accumulated over time. These fees can be viewed in the ‘My Pools’ section.
Farm bonus rewards #
KYBERSwap’s liquidity mining/yield farming program is called Rainmaker. Users can earn bonus incentives by staking liquidity provider tokens (LP tokens) into eligible farms and adding token liquidity. Through Rainmaker, liquidity is boosted, liquidity providers receive important benefits, as well as more DeFi participants are added to Kyber and various other ecosystems.
Click the ‘Get *token pair name> LP’ button to view all the yield farms. Alternatively, under the ‘Pools’ tab, you can select the token pair to view all pools for that pair, then select the Rainmaker pool there (identified by a green raindrop 💧 icon).
The Liquidity Provider Tokens (LP tokens) are receipt tokens which represent the value of the liquidity position you have added to the eligible pool that is marked for yield farming.
Put your LP tokens (that you received after adding liquidity) on the desired farm under the ‘Farm’ tab. You will be able to harvest your yield farming rewards whenever you want.
Harvesting and claiming rewards #
The amount of rewards depends on how many tokens you stake in the farm and how long you hold the tokens. It is possible to harvest your rewards at any time. Following each harvest, yield may vest for a period of time before rewards become available. You can check the ‘Vesting’ tab to see the progress of unlocking your rewards and to claim them.
Conclusión #
Kyber Network is providing DeFi with a sustainable liquidity infrastructure. Through Kyber’s liquidity hub, Dapps, aggregators, DEFI platforms, and traders can access liquidity from a variety of protocols and sources.
Using KYBER, anyone can provide or access liquidity, while developers can create innovative applications such as token swap services, decentralized payments, and financial Dapps – making it possible to build a world where any token can be used anywhere. Over US$7 billion worth of transactions have been performed by thousands of users since Kyber was founded in 2005.
A new protocol, KyberSwap, is providing the best rates to traders and maximizing returns to liquidity providers through the liquidity hub.
References:
Kyber Network. (2022, January 4). KyberSwap Partners with Sipher on $50 Million Liquidity Mining Campaign to Provide the Best Liquidity and Rates for the SIPHER token. Medium. https://blog.kyber.network/sipher-partners-with-kyberswap-on-50-million-liquidity-mining-campaign-to-provide-the-best-1cb5b9d6f44
https://chainsecurity.com/wp-content/uploads/2021/04/ChainSecurity_KyberNetwork_DMM_Dynamic-Market-Making_Final.pdf
Hajji, M. (2022, January 7). Kyber Network and Unslashed Finance partner over a $20m Native Insurance to protect Kyber Network and DMM users. Medium. https://medium.com/unslashed/kyber-network-and-unslashed-finance-partner-over-a-20m-native-insurance-to-protect-kyber-network-df543045a97c
https://sipher.xyz/stake/deposit/kyber-slp-sipher-eth
https://kyber.org/vote
https://krystal.app/
