Review on Kyber Network by Olugbenga Ajayi
Kyber network bring about easy swap of tokens
In this era of defi and dapps that has made crypto currency very popular and demanding also comes the need for exchange that can ease the stress of sourcing for the required tokens to enjoy such dapps or defi. This is what kyber network exchange bring about. A decentralized exchange that can has many tokens in it's reserve also on which traders can use any token holder can easily swap one toke for another. And for business owners comes the ease of receiving payments with the token they desire.
The exchange has on its market the ethereum based tokens, ethereum, and some stablecoins all of which can swap against the other. It is good to know that the exchange only trade crypto against crypto. No support for flat currency.
In terms of fee, the exchange does not charge deposit fee. It accept only crypto deposit. For transaction fee, it charges a fair flat fee of 0.10% on makers and takers. No withdrawal fee is charged except for the network fee but this can be really high particularly when there is traffic on ethereum Network and as we know this always happen.
In terms of transparency, all transactions can be verified of ethereum block chain.
Pros
- It is a transparent exchange as transaction can be verified on ethereum block chain
- It charges fair fee on transactions
- Easy and instant swapping of ethereum based tokens
- Convenient access to dapps and defi and stressless means of making payments
Cons
- When there is network traffic, the network fee can be very high
- The exchange only deal in ether and ethereum based tokens but non from other blockchains
