KyberSwap

KyberSwap is a decentralized exchange (DEX) interface built on the Kyber Network that enables non-custodial token swaps directly from wallets. It provides access to on-chain liquidity through a combination of liquidity reserves and automated market maker pools, delivering instant price quotes and on-chain settlement without middlemen.

Origin and architecture: Kyber Network launched in 2017 to facilitate token transfers on-chain with integrated liquidity. KyberSwap serves as its user-facing trading front end, connecting users to on-chain reserves and DMM-based pools that adjust liquidity and pricing algorithmically. All trades occur on-chain, with liquidity providers contributing funds to reserves and earning a share of trading fees.

Features: The platform supports multi-network trading where available, enabling token swaps across supported networks. It emphasizes single-transaction swaps, competitive rates, and low slippage. Liquidity providers earn fees proportional to their contribution. Kyber's Dynamic Market Maker (DMM) pools are designed to offer higher capital efficiency and deeper liquidity in volatile markets.

Governance and token: KyberDAO governs protocol parameters and reserve deployments. The Kyber Network Crystal (KNC) token powers staking and voting rights for governance participants, with holders able to participate via the KyberDAO. The project emphasizes security through audited smart contracts and a decentralized architecture.

Impact and usage: KyberSwap is widely used in the DeFi ecosystem as a non-custodial trading interface and liquidity platform, integrated with wallet providers and other DeFi protocols.