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Version: V1

Introduction

KyberSwap is the best place to trade and earn on networks such as Ethereum, Polygon, Binance Smart Chain (BSC), Avalanche, and Fantom; you can get the best rates for your token swaps and earn more with your token assets.

As DeFi's first multi-chain Dynamic Market Maker and the main protocol in Kyber's liquidity hub, KyberSwap is both a decentralized exchange (DEX) aggregator and a liquidity source with capital-efficient liquidity pools that earns fees for liquidity providers.

Unlike the static/fixed nature of a typical AMM/DEX and other liquidity platforms in the space, KyberSwap is designed to maximize the use of capital by enabling liquidity aggregation for the best rates, extremely high capital efficiency, and reacting to market conditions to optimise returns for liquidity providers.

KyberSwap

  1. Best rates for Traders

KyberSwap has Dynamic Trade Routing, which aggregates liquidity and enables users to source liquidity across different decentralized exchanges to achieve the best rate for any token swap, on any supported network.

KyberSwap trades are split and routed optimally through different DEXs for the best prices within the same chain/network. Users can trade tokens that may not be in KyberSwap pools but are available on other DEXs. You can see exactly which DEXs were involved in the trade and the % split between them.

KyberSwap's DEX aggregator also provides the following benefits:

Optimised Trade Route: If a trade passes only through KyberSwap’s own pools, the gas fees associated with this trade will be minimal. The gas fees charged to our users will be as if the DEX aggregator was not used at all.

Reduced Gas Fees: We reduce the number of transfers. Therefore, the gas fees associated with trading Fee on Transfer (FoT) tokens are also reduced. In Fee on Transfer tokens, generally, a small portion of every transfer is either burnt or diverted to another wallet (i.e. tax). FoT tokens are common on the BSC chain.

  1. Best returns/yield for Liquidity Providers (LPs)

Amplified Liquidity Pools: Higher capital efficiency and lower slippageß

Less tokens required for high liquidity. KyberSwap enables liquidity pool creators to create amplified pools in advance or add liquidity to existing pools, achieving much higher capital efficiency for providers and better slippage for users compared to AMMs.

Dynamic Fees: Higher returns

Higher earnings for LPs, reducing the impact of impermanent loss. Trading fees are adjusted dynamically according to on-chain market conditions. In a volatile market (higher than usual volume), fees automatically increase to an optimal level for higher returns. In periods of low volatility, fees decrease to encourage more trading and total fees collected.

Rainmaker Yield Farming: Earn bonus rewards

Rainmaker, KyberSwap’s yield farming program, allows users to earn bonus incentives simply by adding token liquidity and staking the corresponding liquidity provider tokens (LP tokens) into the eligible farms.

  1. Better Reliability and Security

KyberSwap is audited by ChainSecurity and insured up to $20M by Unslashed Finance.

  1. Fully Permissionless

KyberSwap allows fully permissionless liquidity contribution from anyone, and access to this liquidity by any trader, Dapp, or aggregator.

The pages that follow contain documentation for KyberSwap. If you are a trader or liquidity provider new to KyberSwap, read our user guides.

  • For the whitepaper, check out this here.

Developer community

If you are new to KyberSwap, you might want to first understand how the system works

Join the Kyber developer community on Discord and Telegram.

To run a Joint liquidity mining campaign with Kyber, read this