DEX platform KyberSwap integrates symbiosis financing to expand cross-chain swaps

KyberSwap, a DEX (decentralized exchange) aggregator, has integrated a cross-chain liquidity aggregation solution from Symbiosis Finance, a multichain liquidity protocol. Symbiose announced the strategic partnership via its social media account. This integration will enable KyberSwap to enable seamless asset swaps between major EVM networks, providing better pricing for users.

KyberSwap functions as a multi-chain DEX aggregator and allows people to efficiently transact on more than 14 EVM chains, including BNB Chain, Avalanche, Ethereum, Optimism, Polygon, and many more. Using proprietary Dynamic Trade Routing technology that aggregates liquidity from over 70 DEXs, KyberSwap allows traders to access the best prices at the lowest slippage.

KyberSwap enables universal Web3 interoperability

The partnership above shows KyberSwap’s move to expand its multi-chain swapping capabilities. The integration allows KyberSwap customers to seamlessly perform multi-chain swaps using Symbiosis’ cross-chain technology that aggregates the liquidity of various EVM and non-EVM blockchains, including Layer-1 and Layer-2 chains.

According to data from market analyst Derar-Hadri, DEX aggregators experienced strong trading activity over the past 30 days, with Jupiter leading the sector with a trading volume of $20.6 billion despite a 10.4% decline. The biggest surprise came from KyberSwap, where trading volume rose 98.8% to $19.3 billion. OKX DEX, CoWSwap and 1inch followed with growth of 41.9%, 31.2% and 22.2%, bringing their trading volumes to currently $14.4 billion, $14.2 billion and $13.8 billion respectively.

With the integration of Symbiosis’ advanced cross-chain swap solution, KyberSwap expects to see a significant increase in trading volume and customer adoption. Using Symbiosis’ AMM model and on-chain liquidity pool system, KyberSwap users can now automatically exchange liquidity for their target assets, allowing them to efficiently convert assets between preferred chains in a single transaction.

Symbiosis’ cross-chain solution is quite different from traditional DEX platforms. The infrastructure supports multi-chain swaps between each blockchain enabling the hash-based key generation of ECDSA and EdDSA. This means that users can now (for example) take an ERC-20 token and exchange it for Polygon or BNB Chain, or tokens built on Solana and many other networks.

Unlocking crypto adoption and trading opportunities

Solving the two-sided challenge of interoperability and customer experience is crucial to attracting the new wave of widespread crypto adoption. The cryptocurrency customer experience is complicated, even for digitally savvy individuals; a major barrier for new customers from the regular public.

By supporting advanced multi-chain swaps, Symbiosis offers a more efficient customer experience than existing DEXs, which explains why KyberSwap integrated the technology. The multichain liquidity infrastructure facilitates cross-chain swaps between non-EVM and EVM networks. The use of the relayers and liquidity routers allows for efficient asset bridging without the need for manual bridging or wrapped assets.

This in turn ensures that customers do not miss any trading opportunities. Using existing DEXs and centralized exchanges to conduct token swaps between different networks involves a multi-step process that can take more than five minutes to complete. The above integration highlights the move of DEXs embracing fast cross-chain swap solutions that allow users to capture opportunities and returns.