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KyberSwap: Revolution in the world of decentralized finance

Nov 29, 2023
KyberSwap: Revolution in the world of decentralized finance
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KyberSwap is a modern cryptocurrency exchange platform based on Ethereum blockchain technology. It was launched in 2018 and is part of the Kyber Network ecosystem. 

Contents:

KyberSwap: Revolution in the World of Decentralized Finance - news

General Description of KyberSwap

KyberSwap is a decentralized exchange aggregator that began its operation in 2018. Originally known as Dynamic Market Maker (DMM), it now operates under the name KyberSwap and offers multi-chain cryptocurrency trading. In an environment where hundreds of new tokens appear every day, KyberSwap provides a convenient and accessible way to trade and exchange tokens, bypassing the complex registration and KYC procedures typical for many large crypto exchanges.

KyberSwap, as a DEX aggregator and liquidity protocol, aims to provide traders with seamless token exchange and maximize profits for liquidity providers.

The platform uses dynamic trade routing technology, allowing liquidity to be added from various DEX and finding the best deals for users. KyberSwap has locked in funds worth $24 billion from more than 60 DEXs, supporting up to 11 blockchains and over 20,000 tokens.

The token KNC, a utility token of Kyber Network and KyberSwap, allows its holders to participate in staking and voting, receiving a portion of trading fees from KyberSwap. KNC is traded on more than 100 markets and has a total supply of 177,809,350 tokens.

Features of the DEX Aggregator

KyberSwap offers various features for the following groups:

  • traders;
  • liquidity providers;
  • developers.

To understand the features available to each group, their functionality can be reviewed.

Category Description
Traders Gain access to thousands of tokens at the best prices thanks to dynamic deal routing. The platform combines liquidity from different DEXs across 11 networks, providing the best trading conditions.
Liquidity Providers Earn more rewards and commissions by placing tokens in pools and participating in yield farming.
Developers KyberSwap offers the opportunity to integrate the platform into dApps, providing access to maximum liquidity and token exchange at the best prices.

KyberSwap: Revolution in the World of Decentralized Finance - news

KyberSwap's Future Plans

The goal of KyberSwap is to make the DeFi industry accessible, simple, useful, and safe for all users. The platform plans to continue refining its aggregation algorithm to provide token exchange at the best rates and collaborate with various projects to increase token pair availability. New integrations and product updates are expected on the fifth anniversary of Kyber Network.

KyberSwap is a reliable platform for diving into the world of DeFi, with audited smart contracts and an insured platform offering reliable reward programs.

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