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Swapping, trading, and pooling can be a very daunting place for beginners and experts alike in the crypto space. There are several centralized exchanges, decentralized exchanges and even swapping protocols that offer different ways of exchanging and earning for your crypto investments.
Recent events like the FTXs blow-up have led to many users using decentralized exchanges. Decentralized exchanges allow users to control their own assets via private keys, removing the risk of centralized exchanges using their funds without their knowledge.
One of the leading protocols from the FTX fallout has been the Kyber Swap platform. Kyber Swap allows users to swap between 22,000 tokens on 13 chains, as well as farm and pool assets across the blockchains.
Below we will go into more detail on the features of the Kyber Swap platform and why it’s an all in one solution for experts and beginners alike.
Swapping On Kyber Swap
Kyber Swap offers a user-friendly interface for users to swap their tokens. They can select from receiving maximum returns or the lowest gas fees possible when swapping.
The platform will inform you of the savings being made using the platform before you even swap. Even showing you the routes the platform will take based on your selection of maximum returns or lowest gas.
What is Liquidity Pooling?
A liquidity pool is a pool of crypto tokens secured under a smart contract. These tokens provide decentralized exchanges with the essential liquidity they require. The term “liquidity” refers to the ease with which one can swap a crypto token for another. Such ease is essential to the DeFi ecosystem because of the many financial activities carried out in.
Kyber Swap offers over 10 pages of pools, ranging from currencies locked on certain blockchains to stablecoins.
Polls are a way for users to lock up their tokens to receive APR (APR can vary). Pools can be a lucrative way to earn additional funds, with some pools offering over 40% APR.
Users who are interested in farm should educate themselves on the risk involved and decide if it’s for you.
What is Yield Farming?
Yield farming is a means of earning interest on your cryptocurrency, likewise to how you’d earn interest on any money in your savings account. Similarly to depositing money in a bank, yield farming involves locking up your cryptocurrency, called “Staking” for a period to earn interest or other rewards, such as more cryptocurrency.
Yield Farming is another DeFi protocol offered by the Kyber Swap platform. Users can lock up their assets into fixed contracts, often offering large rewards.
Some farming pools on the Kyber Swap platform are currently offering over 200% APY (what’s APY? You’ve never mentioned it before?) with more secure pools of wstETH — USDC offering just under 50%.
Farming has become a very lucrative way for users to earn income, but you should educate yourself about the risks of farming and decide if it’s for you.
Other Useful Tools
Below are some other useful tools available on the Kyber Swap platform:
The platform offers many other useful tools that can give you an advantage in trading and trends within the space.
One of our favourite tools is the “Trending Soon” feature on the platform. The “Trending Soon” protocol watches market activity and gives users the insight of the top 10 projects currently being traded.
This feature can be very beneficial for users looking for the next big project before everyone else. (Additional research would need carried out, do not FOMO — Fear of missing out — into projects on the “Trending Soon” page)
Kyber Swap Campaigns
Campaigns on the Kyber Swap platform are a very lucrative way to earn additional income alongside swapping.
Recent campaigns have included prizes of over $20,000 for simply trading certain tokens on the platform.
Campaigns are often running in partnership with other DeFi protocols and can be found on the Campaign page on the Kyber Swap platform.
We believe Kyber Swap offers the best all in one solution for swapping, farming and pooling currently in the market, whilst staying in control of your funds.
There are other protocols and centralized exchanges available, but fully recommend you research any project/exchange before you move funds.
Kyber Swap — https://bit.ly/3DUHDGY
Kyber Network — https://kyber.network/