0x Project x KyberSwap Elastic: Better access to Elastic liquidity
Kyber Network recently shared an update with the community, informing them on Twitter about the integration of 0x Project with KyberSwap Elastic. The objective is to create a liquidity source on Polygon and Ethereum, thereby enabling users to access Elastic liquidity on all 0x trade routes.
We’re excited to announce @0xProject has integrated #KyberSwap Elastic as a liquidity source on @ethereum & @0xPolygonDeFi!🤩
KyberSwap Elastic is a tick-based AMM with efficient liquidity. With this integration, 0x users can now access our Elastic liquidity on 0x trade routes🚀 pic.twitter.com/lEJ2pVFxbI
— Kyber Network (@KyberNetwork) March 9, 2023
0x comes to the table with the reputation of being the most trusted exchange infrastructure for the community of developers. Kyber, on the other hand, is a multichain decentralized exchange and aggregator on fourteen chains. KyberSwap Elastic is a tick-based AMM that has liquidity that can only be defined with a core focus on efficiency.
Development prior to this was around two years ago when 0x launched on Polygon to scale its solutions based on Ethereum for decentralized exchange services.
0x API, to be more specific, has since then enabled developers to access easy liquidity across all the available sources, including, but not limited to, SushiSwap, Dfyn, and QuickSwap. All developers needed at that time was documentation to begin constructing on Polygon by leveraging the capacities of 0x API. It has been pretty successful, given that the launch has come a long way to become an integration with KyberSwap Elastic.
Ethereum and Binance Smart Chain have been utilizing the benefits of 0x API before Polygon entered into the ecosystem. However, the offering has expanded to enable a large number of developers on Polygon to continue walking with the trend. 0x API has processed more than 1.5 million trades since its inception. What makes this a much better number is the fact that they have been carried out by more than 300k unique traders.
A total of $27 million volume has been traded on Binance Smart Chain and Ethereum. That was well before Polygon entered, and needless to say that the numbers have only grown since then.
Polygon remains a well-established choice for introducing scaling solutions because it has demonstrated better growth in its vibrant ecosystem by processing transactions three times in comparison to Ethereum.
Impressive would surely be the right assumption and saying that 0x API has become a hot destination since the launch would also comprise a valid part of that assumption. The API has been able to aggregate liquidity sources on the newly added network by grounding the mechanism on SushiSwap, QuickSwap, and mStable.
Taking the argument that the launch was almost two years ago, that never takes away the reality that developments by 0x Project are strong enough to provide longevity to all its partners. KyberSwap Elastic was integrated at a time when the news about Lido Finance’s wstETH was opened to be connected with Ethereum and Polygon.
Rewards are being lined-up for the community since Kyber Network, Balancer, and Beefy Finance have already taken up that action to serve a greener experience to their users. A reminder was raised by one of the members earlier, following which Kyber Network issued clarification for reward distribution.