KyberSwap Partnership With Arbitrum
As part of Kyber Network on-going strategy to widen adoption, the KyberSwap multi-chain DEX aggregator and liquidity protocol has been deployed across 6 networks (Ethereum, Polygon, BSC, Avalanche, Fantom and Cronos), allowing KyberSwap to give the best token rates and achieving a Total Trade Volume of over US$6B.
To amplify and capitalize on this success, Kyber Network is excited to share that KyberSwap will now expand to Arbitrum network, a Layer-2 scaling solution that enables near-instant transaction finality and low transaction fees without sacrificing security. This means KyberSwap users now have another convenient option to trade tokens at faster speeds and with lower costs, while getting the best rates!
“With decentralization comes challenges of scaling, and solving for congestion, gas fees and slippage bring us closer to a truly seamless decentralized economy. This partnership between KyberSwap and Arbitrum is a big step forward towards creating the most user-friendly experience for users, as well as robust and highly extensible trading API for partners,” Victor Tran, CEO and Co-Founder, Kyber Network
As a recap for those who were at ETH Denver 2022, both Arbitrum and Kyber Network were discussed as part of Ethereum’s ecosystem and innovations in 2022 — all while this partnership was under wraps.
The challenge for retail traders with Ethereum network transactions is how expensive gas fees have become and the network congestion due to its popularity. This congestion leaves many users put off by the issues and exploring other chains, creating a need to solve it through Layer-2 scaling and other efforts.
ABOUT Arbitrum
Arbitrum is a suite of Ethereum scaling solutions that enables high-throughput, low cost smart contracts while remaining trustlessly secure. Arbitrum’s extremely efficient rollup technology is able to cut fees down to a fraction of what they would have been on Ethereum while its trustless security, rooted in Ethereum, allows any one party to ensure correct L2 results. Combined with its scalability and high EVM compatibility, Arbitrum has already been deployed on a wide variety of Ethereum DApps.
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.
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