This decentralized exchange (Kyber Network) is on a quest to become an all-in-one DeFi platform
A cryptocurrency trading hub that enables investors to make trades with low fees is getting ready to commemorate five years of innovation at the forefront of DeFi.
The tools that Kyber Network has built are used on a daily basis by developers, liquidity providers, and traders. Tokens can be exchanged right now using KyberSwap at incredibly low costs, all without sacrificing the user experience. Deep liquidity is essential, and a variety of DEX protocols help to aggregate it.
Developers can innovate and create new applications that feature quick exchanges of decentralized tokens thanks to tools.
And KyberDAO, a decentralized autonomous organization, offers users the chance to vote on prospective governance ideas and have a stake in the platform’s success in order to guarantee that everyone may have a say in the future direction of this hub.
Since its debut in 2017, Kyber Network has accomplished a number of milestones and, to date, has enabled over $7 billion in transactions for thousands of customers. Additionally, it was one of the collaborators that brought Wrapped Bitcoin (wBTC) to the Ethereum network (ETH), opening up DeFi capabilities to a new user base.
KyberSwap.com addresses the fundamental need for seamless token swaps and liquidity in the cryptocurrency ecosystem while offering the best rates for traders in DeFi and maximizing returns for liquidity providers, according to the Kyber team: “In building a world to make DeFi accessible to all where any token is usable anywhere”
A vibrant ecosystem
By connecting more than 80 decentralized exchanges, Kyber enables traders to find the lowest price. New DEXes are regularly introduced, and dynamic trade routing automatically searches the market for the cheapest rates.
Additionally, the platform just debuted its Discover function, which uses KyberSwap’s TrueSight technology to show traders the tokens that are now trending and those that are predicted to do so in the near future.
Importantly, while traders are on the go, they can access this functionality in mobile-friendly mode or in full-screen mode on laptops and desktop computers.
With charting data accessible for hundreds of tokens, drawing tools give researchers a clear way to separate the signal from the noise. Analytics projects can be stored for subsequent usage and prices are updated continuously in real time.
Additionally, the platform doesn’t intend to stand still and aims to lead the way in the next phase of decentralized finance. Its investment arm, Kyber Ventures, is now taking center stage in assisting business owners who are developing cutting-edge protocols that are expected to dominate the industry.
A big name in DeFi
Through prominent alliances with companies like Signum Capital, Binance, and Hashed, Kyber Network has also established itself as a major player in the DeFi market. In March, the company was honored to sponsor the Avax Summit in Barcelona.
Other significant events include the launch of Rainmaker, a programme for mining liquidity that has paid traders who increase liquidity on KyberSwap tens of millions of dollars in incentives.
The KyberSwap aggregator, which enables exchanges on 11 chains, and direct partnerships with the foundations of important blockchains, such as Avalanche (AVAX), BitTorrent (BTT), and Binance Coin, have also arrived in the past year (BNB).
Kyber Network has been a part of DeFi since the organization’s formation and has five years of expertise under its belt. As decentralized money becomes more widely accepted over the next five years, the platform will be in a good position.
The Kyber Network is dedicated to user education, working with top platforms like CoinGecko, Binance, and more to develop educational materials and Learn & Earn Programs. A future campaign will commemorate this significant occasion.