KyberSwap Launches DEX on Ethereum Scaling Solution Arbritrum
KyberSwap has launched its decentralized exchange (DEX) onto the Arbitrum network. The DEX is designed to be secure and facilitate trades with lower costs, in order to address high Ethereum network congestion and rising gas costs.
The KyberSwap DEX will utilize Arbritrum as a foundation for their “trustless, cross-chain, on-chain trading protocol.” Previously, developers at KyberLab launched a cross-chain platform connecting Ethereum and several other ERC20 tokens. The Kyber DEX will allow users to trade “any ERC20 token directly with any other ERC20 token, in a completely trustless manner”, using Arbritrum’s smart contracts.
The new addition of KyberSwap to the list of decentralized exchanges that run on the Ethereum scaling solution, Arbitrum, may have helped the former break-out from a downward trend and focus attention on other aspects of its L2 ecosystem.
KyberSwap will join the Ethereum (ETH), Fantom (FTM), Avalanche (AVAX), BSC (BNB), Polygon (MATIC) and CRONOS scaling options, as the seventh network or scaling option.
KyberSwap is now available on Arbitrum with the following DEXes: SushiSwap, Balancer Labs, Curve Finance and SwaprEth.
Since then, the Kyber team has focused on refining the exchange product, working with relayers and other projects to improve the DEX liquidity, and contributing to the ecosystem by implementing their capital-efficient protocol, which other projects can use. In short, KyberSwap is experiencing positive growth metrics across all aspects of its business.
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