KyberSwap Brings the Best Rates and Capital Efficiency to Cronos Chain

KyberSwap DEX Aggregator and liquidity protocol will enable the best prices for traders and higher returns and capital efficiency for LPs on Cronos chain.

Kyber Network

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Kyber Network

7 min readDec 15, 2021

KyberSwap (previously known as DMM) is a DEX aggregator and DeFi’s first multi-chain dynamic market maker protocol.

After our beta launch on Ethereum a few months ago, we have successfully expanded to the Polygon, BSC, Avalanche, and Fantom networks.

Total Trade Volume: Over $3.8B
Over $15M in fees collected for close to over 15,000 liquidity providers
All-time-high TVL of ~$500M and $50B in Amplified Liquidity
Integrated by Dapps such as Coin98 Wallet, Kattana Trade, Rome Terminal, as well as other top Aggregators such as 1inch, Paraswap, 0x API, Matcha and Slingshot.

KyberSwap is the first major DEX aggregator to launch on the Cronos network and we look forward to providing the best token prices and enhanced liquidity for Cronos traders, liquidity providers, and Dapp developers!

Cronos traders can now swap at the best rates and liquidity providers earn higher fee returns, all in one user-friendly, secure interface.

What is Cronos?

Cronos is the EVM chain running in parallel to the Crypto.org Chain. Built on Ethermint, Cronos aims to massively scale the DeFi ecosystem, by providing developers with the ability to instantly port DApps from Ethereum and EVM-compatible chains, with funding from Particle B’s $100m EVM fund and access to the 10M+ user base of the Crypto.com ecosystem. You can bridge CRO assets between the Crypto.org chain and the Cronos chain using this bridge.

Bringing Better Token Prices and Liquidity to Cronos

KyberSwap is an extremely capital efficient and flexible liquidity protocol that enables traders to get the best rates and liquidity providers to maximize the use of their token assets.

Traders and Dapps can swap any token at the best token prices through dynamic trade routing across different Cronos DEXs. In addition, at a fraction of the TVL compared to typical AMMs, KyberSwap is able to provide better liquidity and very low slippage for popular token pairs, so liquidity providers enjoy higher capital efficiency and returns.

At launch, apart from our own KyberSwap pools, we are aggregating liquidity from the pools of 3 other DEXs:

VVS Finance
Cronaswap
Crodex

This amounts to close to 1000 liquidity pools with a combined TVL (total value locked) of $1 Billion+ on Cronos, thereby allowing traders to trade over 100 tokens on Cronos!

This will help bring volume to integrated DEXs and improve the overall trading and liquidity provision experience for Cronos ecosystem users, Dapps and NFT games!

A portion of KyberSwap trading fees on Cronos will go to KyberDAO and subsequently to KNC voters.

Accessing Cronos and Bridging Assets to the Network

Switching from Ethereum/Other networks to Cronos: On KyberSwap, click the Ethereum button at the top right corner to switch your network to Cronos or change your network to ‘Cronos’ on your Metamask Wallet extension directly.

Instructions on how to set up Cronos on your Metamask wallet can be found here: https://cronos.crypto.org/docs/getting-started/metamask.html
To bridge assets to Cronos, you can use the Crypto.com exchange and app and withdraw assets to Cronos chain. Learn more here: https://cronos.crypto.org/docs/bridge/cdcapp.html
You can also bridge CRO assets between the Crypto.org chain and the Cronos chain using this bridge.
Cronos explorer: https://cronos.crypto.org/explorer
Crypto.com Exchange: https://crypto.com/exchange
Cronos Bridge: https://cronos.crypto.org/docs/bridge/webapp.html (for bridging CRO between Crypto.org chain and Cronos Chain)

Note: KNC tokens are NOT available on the Cronos network at this time. We are working closely with the Cronos and Crypto.com teams to add KNC support.

How to Trade at the Best Prices on Cronos

On the ‘Swap’ page of KyberSwap, simply select the two tokens you wish to swap.

KyberSwap’s Dynamic Trade Routing algorithm would aggregate liquidity, automatically searching multiple DEXs on Cronos to identify and select the optimal trade routes and best prices for you! You can see exactly which DEXs were involved in the trade and the % split between them. You can also see how much you save!

Start trading now! More DEXs, pools and tokens will be added soon.

Add Liquidity to Earn Fees with your Crypto Assets

On the ‘Pools’ page, connect your wallet e.g. Metamask on the Cronos network.

Creating a new liquidity pool: Create a new liquidity pool for a token pair by clicking +Create a New Pool. Type in the ratio of tokens you wish to add (this sets the price of the pool) and the AMP factor*.

AMP = Amplification factor. Amplified pools have much higher capital efficiency. Higher AMP, higher capital efficiency within a tighter price range.

Add liquidity to existing pools: Select a token pair and click the + icon. Add liquidity by depositing the required tokens into one (or more) pools. You will receive KyberSwap LP pool tokens in your wallet representing your pool share and start earning fees for that pool.

Note that KyberSwap just launched on Cronos so there are no KyberSwap pools at the start.

View liquidity positions: On the ‘My Pools’ page, you can view all your liquidity positions and remove or add liquidity there. If you cannot see your liquidity position, click ‘Don’t see a pool you joined? Import it’ to add it manually.

We welcome all Cronos projects to reach out and propose joint liquidity mining campaigns with Kyber! Learn more here.

Why use KyberSwap?

Traders and liquidity providers on KyberSwap enjoy powerful benefits that are not available on typical AMM DEXs.

Dynamic Trade Routing/DEX Aggregation: Traders can swap tokens at the best prices. Liquidity is aggregated from different decentralized exchanges to achieve better prices for any token swap on supported networks. Much better prices compared to trading on individual DEXs.

Amplified Liquidity Pools: Liquidity providers use amplified pools that enjoy excellent capital efficiency with reduced trade slippage. With the same pool and trade size, stable token pairs with low variability in price (e.g. USDT/USDC) can enjoy up to 400 times better slippage compared to other platforms. Liquidity providers can provide better prices and earn more fees with less capital.

Dynamic Fees: Fees are adjusted dynamically based on market conditions to maximize returns and reduce the impact of impermanent loss for liquidity providers, with fees automatically accruing from transactions in the pool.

Fully permissionless: Anyone can create a pool or add liquidity to existing pools; while any Dapp, DEX aggregator, or end user can access this liquidity. KyberSwap is already integrated with 1inch, 0x, Matcha, and Slingshot, with more aggregators and Dapps on the way.

Reliable and Secure: KyberSwap’s codebase has been audited by external auditors such as Chain Security and is open source on Github for community review. KyberSwap doesn’t use 3rd-party oracles so it is not vulnerable to external oracle risks. KyberSwap is also covered up to $20 Million by decentralized insurance provider Unslashed Finance.

Invitation to DeFi Builders on Cronos

Kyber’s aims to build a sustainable and scalable liquidity infrastructure for the Cronos ecosystem.

We invite Cronos ecosystem players to use KyberSwap to trade at the best prices and add liquidity to enjoy higher capital efficiency and returns! Any Dapp or DEX Aggregator also can utilize the KyberSwap API to get excellent rates in their own DeFi Dapps, whether for decentralized trading, liquidity provision, or yield farming.

DeFi projects can also propose joint liquidity mining campaigns with Kyber and get KNC from our ecosystem fund.

For developers looking to build with KyberSwap, please check out our developer documentation.

We will work closely with Dapps and data analytics sites such as CoinGecko, Coinmarketcap, DeFi Pulse, DeBank, DeFi Llama, vfat.tools, APY.vision, Token Terminal, and DEXTools to track KyberSwap statistics on their platforms.

For additional information, please contact Shane on Telegram https://t.me/shaneHk or Twitter https://twitter.com/shaneMkt

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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.

Through Kyber, anyone can provide or access liquidity, and developers can build innovative applications, including token swap services, decentralized payments, and financial Dapps — helping to build a world where any token is usable anywhere. Kyber is powering more than 100 integrated projects and has facilitated over US$7 billion worth of transactions for thousands of users since its inception.

KyberSwap, the latest protocol in the liquidity hub, provides the best rates for traders and maximizes returns for liquidity providers.