Kyber Network, an industry leader in the decentralised finance (DeFi) realm, is thrilled to broadcast the introduction of its signature product, KyberSwap, on the zkSync Era. This action initiates the KyberSwap Aggregator and Classic Liquidity Protocols on zkSync, marking Kyber Network’s 14th chain integration. This move is expected to increase liquidity, expedite transaction speed, and lower costs for users.
The zkSync Era is the latest addition to an impressive roster of networks like Polygon, BNB, BitTorrent, Arbitrum, and Optimism, extending a diverse array of options for KyberSwap users. With the inclusion of native zkSync DEXs like Mute.Switch, SyncSwap, and Velocore, along with KyberSwap’s capital-efficient protocols, KyberSwap’s liquidity offerings are fortified, thereby ensuring users a seamless, affordable, and user-friendly trading and earning environment on this novel blockchain.
Victor Tran, the CEO and Co-founder of Kyber Network, stated, “Launching on zkSync is a significant landmark for our platform. zkSync Era distinguishes itself with its innovative features that align perfectly with our goal to offer the most efficient trading experience while maintaining the principles of decentralisation. We see great promise in zkSync’s potential to transform the industry, and we are thrilled to be leading this technological progression.”
Equipped with native account abstraction and a potent LLVM compiler, the zkSync Era ensures a smooth transition for Ethereum users and arms developers with the tools to build high-performance decentralised applications (dApps). This amalgamation reveals new avenues for Kyber Network and its users, facilitating access to improved scalability, cost-effectiveness, and a user-friendly trading milieu.
Macro Cora, SVP of Business Operations at Matter Labs, expressed, “We’re enthusiastic about zkSync Era’s thriving DeFi ecosystem prospering further with the introduction of KyberSwap. Matter Labs, the architects of zkSync Era, are committed to hastening crypto’s mass adoption for personal freedom. To accomplish this, we are designing a protocol that’s trustless, secure, permissionless, affordable, user-friendly, and endlessly scalable. DEX aggregators like KyberSwap are key players in the ecosystem as they simplify DeFi usage and make it more affordable, eventually boosting wider adoption.”
Kyber Network, as part of its strategy for zkSync, plans for KyberSwap to become the primary aggregator and liquidity spine on the platform. Cooperating with respected partners like Lido Finance and QiDao Protocol, and integrating with DEXs and aggregators will fortify liquidity options and broaden the platform’s reach.
Moreover, Kyber Network intends to launch KyberAI, an AI-empowered trading instrument, on zkSync to provide users with more profound insights and assurance in their trading strategies. Incentive programs will be set up to engage early adopters and reward their patronage.
By adopting the zkSync Era, Kyber Network is shaping the trajectory of decentralised finance. The team continues to be devoted to pushing innovation boundaries, offering state-of-the-art solutions, and unleashing DeFi’s true potential for users globally.
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Frequently Asked Questions (FAQs) about KyberSwap deployment on zkSync Era
What is the significant update from Kyber Network?
Kyber Network has launched its signature product, KyberSwap, on the zkSync Era. This marks Kyber Network’s 14th chain integration, promising users increased liquidity, faster transaction speed, and reduced costs.
What does the deployment of KyberSwap on zkSync Era mean?
The deployment of KyberSwap on the zkSync Era signifies the integration of KyberSwap Aggregator and Classic Liquidity Protocols on zkSync. It offers a seamless, cost-effective, and user-friendly trading and earning experience for KyberSwap users.
What are the advantages of KyberSwap’s integration into the zkSync Era?
Integration into the zkSync Era offers benefits such as improved scalability, cost-effectiveness, and a user-friendly trading environment. It allows for a seamless transition for Ethereum users and provides developers with the tools to build high-performance decentralised applications.
Who are some of the partners of Kyber Network in this new integration?
Kyber Network plans to collaborate with esteemed partners like Lido Finance and QiDao Protocol and integrate with other DEXs and aggregators to bolster liquidity options and broaden the platform’s accessibility.
What is Kyber Network’s future plan for zkSync?
Kyber Network plans to make KyberSwap the primary aggregator and liquidity backbone on the platform. Furthermore, the network intends to launch KyberAI, an AI-powered trading tool, on zkSync to give users greater insights and confidence in their trading strategies.
More about KyberSwap deployment on zkSync Era
- Kyber Network
- zkSync Era
- Decentralised Finance (DeFi)
- Lido Finance
- QiDao Protocol