KyberSwap is taking firm steps forward to become the most efficient aggregator in DeFi by providing the best swap rates with a smooth and secure experience.
About the Launch of the Aggregator
KyberSwap’s top priority goals are to offer the best swap rates together in a simple and secure framework and to grow the platform, making it DEFI’s most cultivated aggregator. In line with these goals, KyberSwap has overcome another obstacle to become the EVM DEX aggregator by launching the aggregator on the Solana network.
Growing of Solana Ecosystem
Kyber Network states that with the real team and builders in the ecosystem, it believes in the technological innovation of the Solana network and the potential of the Solana Blockchain to become a mainstream giant. In addition to this integration, Solana is showing its support for the development and growth of the blockchain ecosystem, starting with events in Vienna.
What is Solana?
Launched in 2017, Solana is a public, open-source blockchain that supports smart contracts, nun-fungible tokens (NFTs), and a wide variety of decentralized applications (dApps). Solana’s native token, SOL, provides network security through staking as well as transferring values. Solana’s blockchain network is powered by proof of history, or PoH, an innovative reconciliation mechanism developed by Solana. When processing blocks using proof-of-stake, PoH adds timestamps to the blockchain, allowing the network to run faster. Thanks to Solana’s PoH system, it has become one of the fastest blockchain networks. Its network can handle around 3,400 transactions per second, compared to 15 transactions per second for Ethereum.
KyberSwap X Solana
Migrating to Solana Network on KayberSwap
Since the Ethereum network is the default network in KyberSwap, users who want to use the Solana network can change it from the window that opens by clicking the Ethereum icon in the upper right, as shown in the photo below.
Q&A’s
Does my Metamask wallet support Solana?
Unfortunately, it does not support it. The technical explanation for this is that while Metamask is one of the most popular cryptocurrency wallets today, Metamask only supports EVM blockchains written in the Solidiy language. Solana is written in the Rust language.
Which Wallets support Solana?
Popular wallets that support Solana: Phantom, Solfare and Sollet. As for hardware wallet: We can say Ledger and Trezor.
I have a Phantom wallet, can I send SOL from Phantom to my Metamask wallet?
You cannot send SOL directly from your metamask wallet to your phantom wallet. If you send SOL directly from your Phantom wallet to your Metamask, your money will be lost.
Benefits for Solana & KyberSwap Ecosystems
Solana has strong usage today like GameFi, NFTs, and DeFi, and that’s growing fast. Considering that a large part of KyberSwap’s users is also DeFi, it is not surprising that the demand for Solana by KyberSwap’s community is high.
By launching the KyberSwap aggregator in Solana, it has not only achieved becoming a leading DEX and aggregator that creates multi-chain interoperability for Solana users, but has gone a long way towards becoming the most widely used decentralized exchange in the world.
About Kyber Network
Kyber Network is building a world where any token can be used anywhere. KyberSwap.com, its flagship DEX aggregator and liquidity platform, provides good rates for traders in DeFi and maximizes returns for liquidity providers.
KyberSwap powers more than 100 integrated projects and has facilitated US$10 billion worth of transactions for thousands of users since its beggining. It is currently deployed on 13 chains, including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent, and Optimism.
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