Disclosure: This article was sponsored by KyberSwap
What is KyberSwap?
KyberSwap is a decentralized exchange (DEX) aggregator and liquidity protocol that achieves the best rates for crypto traders through liquidity aggregation, while providing capital-efficient and higher returns for liquidity providers. KyberSwap is the main protocol in Kyber Network’s liquidity hub.
Which chains/networks is KyberSwap on?
KyberSwap is currently deployed on Ethereum, Polygon, BSC, Avalanche, Fantom, and Cronos networks, with plans to expand to more networks in the near future.
Benefits: Why use KyberSwap?
Traders and liquidity providers on KyberSwap enjoy powerful benefits that are not available on other AMMs/DEX platforms. Traders swap efficiently at the best rates and liquidity providers earn higher fee returns, all in one user-friendly, secure interface. Thousands of traders and liquidity providers are already using KyberSwap for their trading or liquidity needs.
1. For Traders
As a DEX aggregator, KyberSwap sources liquidity from over 30 different DEXs such as Uniswap, Sushi, Curve, QuickSwap, Pancakeswap, Traderjoe, Pangolin, SpookySwap, SpiritSwap, VVS Finance and many others to achieve the best rates for traders. Combined total value locked (TVL) from integrated DEXs have exceeded $26B, with over 20,000 tokens supported. KyberSwap has successfully transacted over $4B in trading volume.
KyberSwap’s Dynamic Trade Routing algorithm aggregates liquidity, automatically searching multiple DEXs to identify and select the optimal trade routes and best prices for you on Ethereum, Polygon, BSC, Avalanche, Fantom, Cronos, and other networks. See exactly which DEXs were involved in the trade and the % split between them, as well as how much you save.
KyberSwap makes trading more efficient and saves time and money for thousands of users.
2. For Liquidity Providers
Apart from giving traders the best rates, KyberSwap is also an ideal venue to park liquidity to earn more on crypto assets. Liquidity providers are able to achieve higher capital efficiency when they create or add liquidity to KyberSwap’s amplified liquidity pools. Each pool can have an amplification (AMP) factor that allows liquidity providers to achieve better liquidity and slippage with the same deposit amount compared to other typical AMM DEXs.
Liquidity providers are able to earn more with Dynamic Fees, where fees are adjusted based on market conditions which serves to maximize returns and reduce the impact of impermanent loss. Over $17M in fees have been collected by liquidity providers.
Overall, liquidity providers earn more fees and rewards on their crypto assets by depositing tokens into KyberSwap pools. Enjoy much higher capital efficiency with amplified pools and lucrative yield farming opportunities. KyberSwap is permissionless and open to any token liquidity provider.
3. 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. Check out the ongoing $50 Million liquidity mining campaign with Sipher!
4. For Developers
Dapp developers can integrate KyberSwap to allow their users to access the deepest liquidity and the best swap rates. This is open to any Dapp or DEX Aggregator. KyberSwap is already integrated by Dapps such as Coin98 Wallet, DEXTools, Kattana Trade, Rome Terminal, as well as other top Aggregators such as 1inch, Paraswap, 0x API, Matcha and Slingshot.
Top data analytics sites such as CoinGecko, Coinmarketcap, DeFi Pulse, DeBank, DeFi Llama, vfat.tools, APY.vision, Token Terminal, The Graph, and DEXTools are also tracking KyberSwap statistics.
For any developers that want to integrate KyberSwap into their own DeFi Dapps, whether for enhanced decentralized trading, liquidity provision or yield farming, check out the KyberSwap documentation here and contact the team here.
5. Committed to Security
KyberSwap is reliable and secure, allowing 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 doesn’t use 3rd-party oracles so it is not vulnerable to external oracle risks and it is covered up to $20 Million by decentralized insurance provider Unslashed Finance.
$50M Sipher Partnership
Many DeFi and GameFi projects are choosing the capital efficient KyberSwap protocol for their liquidity needs. For example, Sipher has set up a pool and is running a $50M liquidity mining campaign with KyberSwap - one of the biggest GameFi campaigns ever!
SIPHER liquidity providers can unlock their share of the $50M in liquidity mining rewards simply by adding any amount of liquidity to the eligible SIPHER-ETH pool on KyberSwap and staking their corresponding LP (liquidity provider) tokens on the ‘Farms’ page. Liquidity providers will then receive KNC rewards, which can be added on KNC liquidity pools, on KyberDAO for additional KNC rewards or on KrystalGO for their token sale allocations.
In addition, when liquidity providers stake their LP tokens on KyberSwap, they will also receive Kyber Staked LP (SLP) tokens representing their staked SIPHER LP position. This KyberSLP can then be deposited on the Sipher portal to generate SIPHER rewards. Read more here.
Goals for the future
With its various benefits over other DEX platforms, KyberSwap is well positioned for growth. In the immediate future, we plan to raise awareness of the benefits of KyberSwap and drive user adoption.
We will continue improving our DEX aggregation algorithm; deploying on many other networks and integrating liquidity sources from all popular DEXs on each network in order to achieve the best swap rates.
Another key focus is working with top projects to increase the variety of token pairs and enhancing liquidity (and increasing TVL) in the liquidity pools. Projects like Pegaxy, Elpis Battle, ZukiMoba, Unbound, Evrynet, DeFi Warrior, Creator, StepHero, Sipher, and many others have chosen KyberSwap to be their liquidity platform of choice right after their token sales. We have partnered with Polygon, Avalanche, Fantom, NEAR, and Cronos to boost liquidity for their ecosystems.
We will also unveil our advanced research into potential L2/scaling solutions that can benefit both KyberSwap users and the ecosystem as a whole.
As a core part of the protocol, the (Kyber Network Crystal) KNC token will continue to exist and will play an increasingly important role on KyberSwap, incentivizing trading and liquidity, as well as enabling governance. KNC token holders will greatly benefit from the growth of KyberSwap.
Kyber is a community-driven project and we always welcome more suggestions for improvement, be it in terms of the UI/UX, liquidity, integrations, or other areas.
How to use KyberSwap.com?
Swap Tokens at the best rates
To swap tokens, simply connect your crypto wallet and go to the ‘Swap’ page on KyberSwap and select which token you would like to swap from and to, and input the desired trade size. No sign-ups required. You can connect using different crypto wallets such as Metamask, Ledger, Coinbase wallet, or WalletConnect (for mobile wallets).
You save: You can view approximately how much you save from each trade through KyberSwap’s dynamic trade routing technology as we aggregate liquidity from multiple DEXs to get you the best prices.
KyberSwap is fully permissionless, meaning anyone can create a liquidity pool or add liquidity (list and add tokens) to existing pools, while any Dapp, aggregator, or end user can access this liquidity.
To add liquidity, go to the ‘Pools’ tab and choose the token pair. All the available pools for the token pair will appear. Select the pool you wish to add liquidity to and click on the ‘+’ icon under ‘Add Liquidity’. Type in the amount of tokens you want to add. This has to match the required pool ratio.
There are 2 options to deposit liquidity: either according to the pool ratio of the token pair (standard method), or as a single token deposit. The Single Token Deposit feature will convert your single token type deposit and add liquidity according to the required pool ratio, all in one seamless transaction. Likewise, you have the option to remove liquidity and receive it in a single token type.
After you add liquidity, you will receive a receipt token called Kyber Liquidity Provider Tokens (LP tokens) which represent your liquidity position. You will start earning fees from each trade in the pool. Fees are accumulated over time and you can receive them automatically when you remove your liquidity. View your liquidity positions under ‘My Pools’ tab.
Farm bonus rewards
Rainmaker is KyberSwap’s liquidity mining/yield farming program. Users can earn bonus incentives by adding token liquidity and staking the corresponding liquidity provider tokens (LP tokens) into the eligible farms. Rainmaker helps boost liquidity, provide important benefits to liquidity providers, as well as bring more DeFi participants and value into Kyber and various other ecosystems.
View all the yield farms under the ‘Farm’ tab and click ‘Get <token pair name> LP’. Alternatively, under the ‘Pools’ tab you can select the token pair to view all pools of that pair and select the eligible Rainmaker pool from there (identifiable by a green raindrop 💧 icon).
Once you have added liquidity to the eligible pool that is marked for yield farming, you will receive Liquidity Provider Tokens (LP tokens) that are receipt tokens that represent your liquidity position.
Under the ‘Farm’ tab, stake your LP tokens (that you received after adding liquidity) on the desired farm. You will start receiving yield farming rewards that you can harvest whenever you want.
Harvesting and claiming rewards
The amount of rewards you get is dependent on the number of LP tokens staked in the farm, as well as the length of time in which you have the tokens in the farm. Harvest your rewards whenever you want. Yield earned may have a vesting period after each harvest, with rewards unlocking at every block. To check the progress in which your rewards are being unlocked, as well as to claim the rewards, you can check the ‘Vesting’ tab.
About Kyber Network
Kyber Network is delivering a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources to provide the best token rates to Dapps, aggregators, DeFi platforms, and traders.
Through Kyber, anyone can provide or access liquidity, and developers can build innovative applications, including token swap services, decentralized payments, and financial Dapps — helping to build a world where any token is usable anywhere. Kyber is powering more than 100 integrated projects and has facilitated over US$7 billion worth of transactions for thousands of users since its inception.
KyberSwap, the latest protocol in the liquidity hub, provides the best rates for traders and maximizes returns for liquidity providers.