KyberSwap - Swap and earn tokens at the best rates

Hey traders!!

Have you ever heard about KyberSwap? If you are interested in exploring the decentralized finance world and don’t know about the KyberSwap, you are missing the gem.

Yes! Let me tell you that KyberSwap is the platform which is able to make the decentralized world accessible and rewarding for all of its users. Along with being a next-gen aggregator, it also claims to provide high-end security, and a high yield rate to maximize returns.

More than 100 projects are powered under KyberSwap with approximately worth US$17 billion successful transactions of thousands of users. Two major features of the KyberSwap are:

• KyberSwap Classic’s protocol

• KyberSwap Elastic

In this post, we will explore all of them and some other essentials which you should know about the Kyberswap. Come along with me further.

The first multi-chain Dynamic Automatic Market Maker (DMM) for DeFi also acts as a liquidity aggregator to maximize revenues for liquidity providers is called KyberSwap. The following are some ways that KyberSwap is different from other DeFi platforms:

• Dynamic fee amplified traditional AMM pools

• Concentrated liquidity situations with auto-compounding

• Trade routing across DEXs and aggregators on various chains is optimized

• Exposing priceless token data on/off-chain for data-driven trading

KyberSwap was rolled out in the industry with the aim to be the decentralized liquidity backbone of the DeFi industry. To do so, it come up with so many solutions in the DeFi space to provide the best possible rewards and returns to its users. Go through the solutions.

• KyberSwap Classic’s protocol: It is the first market-maker protocol of the DeFi world which is used to adjust the fees of liquidity providers according to the market.

• KyberSwap Elastic: This solution is a tick-based AMM which comes up with many other additional features such as concentrated liquidity, customized fees etc.

• KyberSwap Interface: Have you heard of KyberSwap Interface? It's a web interface that offers easy and open access to some of the best liquidity solutions and experiences in DeFi. You can take advantage of KyberSwap's Aggregator to get the best swap rates, earn boosted yields by providing liquidity to KyberSwap's Classic and Elastic protocols, discover trending tokens before others do, and much more!

• KyberSwap Aggregator: This solution is really cool because it connects users and applications to siloed liquidity across several decentralized exchanges (DEX) and multiple chains supported by KuberSwap. By adjusting trade routes, it finds the aptest capital-efficient liquidity bases, along with the surety of the best swap rates and enhanced market stability. And the best part? KyberSwap doesn't ask for any fees to use this aggregator - it's completely free forever.

• KyberSwap Widget: If you're a developer and like to develop in a decentralized space, you can easily join in swap functionality into your app using the KyberSwap Widget. And then, you can customize it to match your app and blend the best swap rates seamlessly.

• KyberSwap Bridge: Lastly, KyberSwap Bridge is a convenient solution that enables users to transverse tokens between multiple chains. You can effortlessly bridge your assets directly from the KyberSwap Interface thanks to its integration with the cross-chain router protocol.

First, make sure that you are connecting it to a supported wallet. If you don’t know which wallet is supported, look at the wallets listed right away and pick up the one you prefer. And move forward by taking the instructions listed beneath.

• MetaMask

• WalletConnect

• Coinbase

• Brave Wallet

• Coin98

• Trust Wallet

1. Initiate the process by opening the official website of KyberSwap.

2. Hit the “Connect wallet” button located in the upper header.

3. Now, a wallet selection pop-up will appear on the screen.

4. Pick up your preferred one and provide your consent to the terms to use and privacy policy by checking the box.

5. Authorize the connection afterwards by navigating through the selected Web3 wallet's UI.

This way, you can easily connect the KyberSwap with specific crypto wallets based on supported networks.

Well! This process takes several sub-steps to perform which are as follows:

1. Connect your wallet:

   1. First, you will be needed to connect your wallet, to do so, you can perform the same as I have mentioned in the right upper section.

2. Specify your swap pair:

   1. Open the dashboard and go to the “Swap” button first.

   2. After landing on the swap page, you can select your preferred assets by searching for them.

3. Configure swap amount:

   1. Once you have selected your desired pair successfully, you should choose the amount.

   2. You can write it manually or you can choose the customized pre-set trade parameters such as Max, Half etc.

4. Approve contract to swap tokens:

   1. Hit prompted the grey-coloured “Swap” button.

   2. And, press the “Approve (Asset name)” token located below.

5. Confirm Swap:

   1. Verify the details available on the following page and hit “Confirm Swap”.

As I have mentioned earlier, KyberSwap supports about 13 chains and more than 20,000 tokens across these chains. Here’s how you can switch from one network to another using KyberSwap.

1. Make sure you have connected your wallet as it is necessary to begin the usage of KyberSwap.

2. Now, select the dropdown which is showing the current network from the homepage.

3. Choose the preferred chain from the dropdown menu and it will show chain details for further verification.

4. Assent to the prompt by pressing “Approve” if you are fine with the wallet used by the chosen network.

5. Now, click “Switch network” to complete the process.

Here, you are done with the process of switching the network and you can easily swap the assets available on the currently added network.

In this read, I have elaborated on the KyberSwap which is a state-of-art DEX aggregator and establishes itself as DeFi’s open liquidity backbone by providing exclusive features to maximize returns. Hopefully, you have enjoyed this read and understood the complete scenario in one go so what are you waiting for? Go and give KyberSwap a whirl to get the best returns.