{"id":20172,"date":"2022-03-07T07:40:02","date_gmt":"2022-03-07T06:40:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=20172"},"modified":"2022-03-07T07:40:11","modified_gmt":"2022-03-07T06:40:11","slug":"kyberswap-dex-launches-on-arbitrum","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/kyberswap-dex-launches-on-arbitrum\/","title":{"rendered":"KyberSwap DEX Launches On Arbitrum"},"content":{"rendered":"\n
KyberSwap decentralized exchange moved to the Arbitrum network in a bid to help users manage the Ethereum network congestion and its expensive gas fees.<\/h5>\n\n\n\n
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KyberSwap moves to a two-layer network on Arbitrum<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

KyberSwap, a decentralized exchange (DEX) aggregator, has debuted on Ethereum's layer-two scaling solution, the Arbitrum network.<\/p>\n\n\n\n

With this step, Kyberswap joins Ethereum (ETH), Polygon (MATIC), Fantom (FTM), BSC (BNB), Avalanche (AVAX), and Cronos as the seventh\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> network or scaling option (CRONOS).<\/p>\n\n\n\n

As of this writing, KyberSwap joins SwaprEth, Balancer Labs, Curve Finance, and SushiSwap as DEXes available on Arbitrum.<\/p>\n\n\n\n

Ethereum network congestion and the cost of on-chain transactions, according to the KyberSwap team, are concerns that can be remedied “via Layer-2 scaling and other measures.”<\/p>\n\n\n\n

According to Ethereum network tracker Etherscan, the average cost of a transaction on Ethereum (ETH) is now fairly low at 28 gwei ($1.48), but fees can skyrocket to over $100 during moments of congestion. According to L2 data aggregator L2 Rates, gas fees on Arbitrum range from $0.50 to $0.69.<\/p>\n\n\n\n

DappRadar<\/use><\/svg><\/span><\/a>, a data collector for decentralized apps (dApps), ranks KyberSwap #76 among DEXes. Since March 5, total users have climbed 350 percent to 19,870, and daily transaction volume has increased 31 percent to nearly $610,000.<\/p>\n\n\n\n

The new integration may have helped Total Value Locked (TVL) on Arbitrum end a five-day decline, in addition to daily users and trading volume. According to layer-2 (L2) ecosystem tracker L2Beat, the current TVL on Arbitrum is $3 billion. Arbitrum is by far the most popular L2 network, with dYdX coming in second with $965 million in TVL.<\/p>\n\n\n\n

Last week, Arbitrum was the only L2 to witness net growth in users by new addresses, outpacing BNB, Ronin, and other well-known L2 solutions. In the last week of February, there were 46,200 total unique addresses on Arbitrum, up 12.7 percent from the previous week.<\/p>\n\n\n\n

The recent volatility in KyberSwap's TVL reflects the overall activity in the DeFi space. According to DappRadar, TVL has been on a slow downturn across the whole DeFi ecosystem since its peak of $180.7 billion on Nov. 10 to $105.3 billion at the time of writing.<\/p>\n","protected":false},"excerpt":{"rendered":"

KyberSwap decentralized exchange moved to the Arbitrum network in a bid to help users manage the Ethereum network congestion and its expensive gas fees. KyberSwap, a decentralized exchange (DEX) aggregator, has debuted on Ethereum’s layer-two scaling solution, the Arbitrum network. With this step, Kyberswap joins Ethereum (ETH), Polygon (MATIC), Fantom (FTM), BSC (BNB), Avalanche (AVAX), […]<\/p>\n","protected":false},"author":33,"featured_media":20173,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4579,1400,7907],"class_list":["post-20172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arbitrum","tag-dex","tag-kyberswap"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/0_NVXdjw9XXVBUqZNj.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=20172"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/20173"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=20172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=20172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=20172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}