Kyberbased
Kyberbased is a descriptor used for applications, protocols, or tokens that rely on the Kyber Network’s on-chain liquidity protocol to enable token swaps and liquidity provision directly on the blockchain. Projects described as Kyberbased typically access liquidity through Kyber’s reserves, allowing trades to be executed without an external order book and with rates determined by on-chain reserves and built-in fees.
Operationally, a Kyberbased service routes a user’s trade to one or more reserves within the Kyber network.
Applications and use cases for Kyberbased liquidity include decentralized exchanges and wallets that require reliable on-chain
Benefits of Kyberbased integrations include non-custodial trading, immediate on-chain settlement, and the ability to aggregate liquidity
Historically, Kyber Network launched as an on-chain liquidity protocol and has evolved with features such as