The decentralized finance (DeFi) space has quickly made its way onto the radar of the mainstream investing community and as such has drawn enormous interest from investors. However, while this space offers a wealth of opportunities, it still possesses a high barrier to entry. These include hard-to-use tools, chain-locked products, and above all, the inherent security threats that seem to constantly loom behind all DeFi protocols.
It is in light of this that Kyber Network is working towards eliminating these bottlenecks. Kyber Network’s mission is to make DeFi easy, affordable, fast, accessible, and secure for all users regardless of their experience levels. This multi-chain crypto trading hub aims to bring all of the best of DeFi onto one simple platform, creating a seamless trading experience for their users
Making DeFi Easier
For starters, a space like decentralized finance (DeFi) which remains largely unexplored carries a lot of risks such as security breaches due to it being largely unregulated. It has been one of the main issues and has been a long-standing pain point for users. Kyber Network has now taken it upon itself to tackle these issues and draw more users to the DeFi space.
Since Kyber Network’s successful ICO in 2017, Kyber has been working to make decentralized finance easy for all through its commitment to innovation and user security. This has emerged in the form of easy-to-use tools and increased security measures across its protocols.
Kyber Network’s codebase has been audited by top cybersecurity firms Hacken and Chainsecurity, and the audits are available for public download.
KyberSwap’s interface is not only user-friendly but user guides are also provided in KyberSwap Docs for further guidance on how to make the most of the platform. Additionally, KyberSwap provides pro trading tools such as Dynamic Trade Routing, Pro Live Chart, and Live Price Charts for all its users.
Launched under the mentorship of Ethereum founder, Vitalik Buterin, Kyber Network has secured top VC backing from top firms such as Hashed, Signum Capital, HyperChain Capital, ParaFi Capital, and Pantera, among others.
Why Use Kyber Network
Kyber Network aims to make decentralized finance accessible, easy, cheap, fast, and secure for users. This ensures that there is always adequate liquidity in the place and users can easily access all of the required tokens for their liquidity needs.
Its flagship product, KyberSwap, is the most advanced decentralized exchange (DEX), and Aggregator in all of DeFi.
In addition, in its goal to make DeFi inclusive and accessible to all, Kyber Network supports easy integration with Dapp developers, allowing them to integrate KyberSwap’s liquidity pools and API to give their users the best-optimized rates. Dapps integrated include Coin98 Wallet, DEXTools, Kattana Trade, and Rome Terminal, as well as other top Aggregators such as 1inch, Paraswap, 0x API, Matcha, and Slingshot.
KyberSwap
KyberSwap allows users to swap, earn LP fees, and engage in Liquidity Mining activities across 11 blockchains and counting. Aggregating liquidity from over 80 DEXs across 11 chains, KyberSwap is able to provide the best token rates.
KyberSwap also has high capital efficiency, thanks to their Amplification (AMP) Factor. This AMP factor is customizable by pool creators and serves to amplify the liquidity, increasing capital efficiency with a specific price range, and helps to maximize profits for liquidity providers in the community.
KyberSwap also features DeFi’s first-ever predictive tool. The Discover tool shows users a list of tokens that are Trending and others that could be Trending Soon. It does this using TrueSight Technology to analyze the on-chain data of more than 20,000 DeFi tokens to provide a list of 50.
This list is compiled based on the prices, trading volumes, market cap, and other on-chain data to provide the top 50 tokens with the potential of Trending Soon.
Kyber Ventures
Headed by former co-founder and former CEO Loi Luu, Kyber Ventures is Kyber Network’s investment arm, supporting Web3 founders and DeFi entrepreneurs in bringing their ideas to life and building out the future of decentralized communities.
Through Kyber Ventures, it has also been able to guide other DeFi projects to success. An example of this was Kyber Ventures was one of the launch partners in the bid to bring WBTC to Ethereum.
This arm of Kyber continues to provide guidance and support to new DeFi projects in the space. It was also an advisor and key to the launch of the DeFi Alliance and Asia DeFi Network.
KyberDAO
KyberDAO is the community that is at the forefront of decentralized finance. It is a community-centered platform that allows KNC token holders to participate in the governance of KyberSwap and the Kyber Network at large.
This way, holders play a significant role in determining the ecosystem, building out a large stakeholder base, and facilitating the economic flow of KyberSwap.
KyberDAO allows investors to play an important role in determining token behavior and upgrades to the network. This puts them in a better position to provide better support for growth and innovation.
KNC Token
The Kyber Network Crystal (KNC token) is the official token of the Kyber Network. It is a utility and governance token that allows holders to play an important role in the ecosystem by allowing users to stake and vote to receive trading fees on KyberSwap.
KNC Token has a maximum supply of 226,000,000 and the rewards are based on the trading volume on KyberSwap. KNC holders can also participate in KyberDAO votes to adjust the incentive system and decide on how many tokens are burnt or minted.
About Kyber Network
The platform is one of the very first DEXs to grace the crypto space and has spearheaded many “firsts” since then. Among these are; the first to introduce DEX/liquidity pool aggregation, introduced the concept of an IEO/IDO platform, the first major DeFi project to reward voters for DAO governance, and the first platform to develop capital efficiency for any token pair.
Kyber Network’s mission is to make DeFi easier by creating an environment where all tokens can be swapped using any wallet. It also aims to bring payment services for all tokens, in addition to rolling out innovative financial products to achieve these goals.
Kyber’s cutting-edge efficiency and easy integration have made it an investor favorite in the space. It is open, transparent, and verifiable, all with permissionless access for any trader, DApp, or liquidity provider.
Conclusion
Kyber Network is currently celebrating its 5-year anniversary. It is one of the few projects that survived the brutal crypto winter of 2018 and came out stronger for it.
With more than $8 billion in trading volume, over 2 million transitions, and 100 integrations, Kyber has a proven track record of making DeFi easier, affordable, and accessible for all.
To crown it all, KyberSwap is gearing up for the launch of KyberSwap Elastic. This is a new liquidity protocol intended to provide unparalleled flexibility, security, and returns for liquidity providers across 11 chains.