DEX platform KyberSwap integrates Symbiosis Finance to expand cross-chain swaps

KyberSwap, a DEX (decentralized exchange) aggregator, has integrated multi-chain liquidity protocol Symbiosis Finance’s cross-chain liquidity aggregation solution. Symbiosis revealed the strategic partnership through its social media accounts. This integration will enable KyberSwap to facilitate seamless asset exchange between major EVM networks and offer better prices to users.

Acting as a multi-chain DEX aggregator, KyberSwap allows you to efficiently execute transactions on 14+ EVM chains including BNB Chain, Avalanche, Ethereum, Optimism, Polygon, and more. KyberSwap uses native dynamic trade routing technology that aggregates liquidity from over 70 DEXs, giving traders access to the highest prices with the lowest slippage.

Enabling Universal Web3 Interoperability with KyberSwap

The above partnership marks a move to expand KyberSwap’s multi-chain swapping capabilities. This integration will enable KyberSwap customers to seamlessly execute multi-chain swaps using Symbiosis’ cross-chain technology, which pools liquidity from various EVM and non-EVM blockchains, including layer 1 and layer 2 chains.

DEX aggregators experienced strong trading activity over the past 30 days, with Jupiter leading the sector with $20.6 billion in trading volume despite a 10.4% decline, according to data from market analyst Deral Hadri. The biggest surprise came from KyberSwap, where trading volume increased by 98.8% to $19.3 billion. OKX DEX, CoWSwap, and 1inch grew by 41.9%, 31.2%, and 22.2%, with current trading volumes of $14.4 billion, $14.2 billion, and $13.8 billion, respectively.

With the integration of Symbiosis’ cutting-edge cross-chain swap solution, KyberSwap expects to significantly increase trading volumes and customer adoption. Using Symbiosis’ AMM model and on-chain liquidity pool system, KyberSwap users will be able to automatically swap liquidity into target assets, allowing them to efficiently convert assets between preferred chains in a single transaction.

Symbiosis’ cross-chain solution is completely different from traditional DEX platforms. Its infrastructure supports multi-chain swaps between blockchains that enable hash-based key generation for ECDSA and EdDSA. This means that users can (for example) take ERC-20 tokens and exchange them for tokens built on Polygon or BNB Chain, or Solana or many other networks.

Unlocking cryptocurrency adoption and trading opportunities

Solving the challenges of both interoperability and customer experience is critical to attracting a new wave of cryptocurrency adoption. The customer experience in the cryptocurrency space is complex, even for digitally savvy individuals. A huge barrier to new customers from mainstream audiences.

By supporting advanced multi-chain swaps, Symbiosis provides a more efficient customer experience than existing DEXs, explaining why KyberSwap integrated the technology. Multi-chain liquidity infrastructure facilitates cross-chain swaps between non-EVM and EVM networks. Relayers and liquidity routers ensure efficient asset bridging without the need for manual bridging or asset wrapping.

This ensures that customers never miss out on trading opportunities. Performing token swaps between different networks using existing DEXs and centralized exchanges requires a multi-step process that can take more than 5 minutes to settle. The above integrations highlight the movement of DEXs to embrace rapid cross-chain swap solutions that allow users to take advantage of opportunities and profits.