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KyberSwap has integrated Multichain to bring even more ease and accessibility to KyberSwap users. So you can now bridge your token assets from chain A to chain B in a single transaction.
Formerly known as Anyswap, Multichain is the leader in the cross-chain field, with a rapidly expanding family of 69 chains and 2000+ bridges to service the needs of different and diverse blockchains.
Each blockchain has its own unique services, its own community, and its own development ecosystem. For Web3 to reach the next level for consumers, users need a fast, secure, inexpensive, and reliable way to exchange value, and data and exercise control between the chains. Multichain aims to meet this need.
Learn more about Multichain here.
“This integration takes us a step closer to a reality of making decentralized finance easy and accessible for all with KyberSwap as the only DEX you need to use. Already, users have the best swap rates through KyberSwap. Now we have eliminated the need for external dApps for bridging and cross-chain swapping.”
Said Victor Tran, CEO of KyberSwap
Why bridge assets to another blockchain?
There is a wide wide world of Web3. Built on blockchain technology, a blockchain can host tokens, DApps & data that are immutable and have no central structure of ownership.
But not all blockchains are the same.
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For example, some networks have cheaper gas fees and some DApps are native to 1 or a select few networks.
How do blockchain bridges work?
A blockchain bridge allows you to transfer your token assets from one blockchain to another.
Typically, the asset that you intend to bridge will be locked up with the bridge, and a wrapped asset will be minted on your destination blockchain.
For example, everyone knows Bitcoin was the first decentralized currency. As the first of its kind, Bitcoin was only available on its own blockchain. Thanks to bridging, BTC now has wrapped versions (WBTC) and can be used on many other chains such as Ethereum, Polygon, Solana, Cardano, etc.
Did you know the KyberSwap team is one of the launch partners to create and bring WBTC to Ethereum? Learn more about it here.
“The future will be multi-chain, and bridges will be necessary to enable chains to be connected. We are happy to support KyberSwap as a Web3.0 infrastructure, giving their users the chance to have cross-chain experience that are more affordable, swifter, more secure.”
Said Multichain Co-founder Zhaojun
KyberSwap is proud to join the Multichain ecosystem and contribute to building a more cohesive, seamless DeFi.
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, our flagship Decentralized Exchange (DEX) aggregator and liquidity platform, provides the best rates for traders in DeFi and maximizes returns for liquidity providers.
KyberSwap powers 100+ integrated projects and has facilitated over US$11 billion worth of transactions for thousands of users since its inception. Currently deployed across 13 chains, including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent, Optimism, and ETHPoW.
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