March Data

In monthly volume data, the high market volatility has lead to higher volumes especially across exchange UIs like KyberSwap, 1inch.exchange and Paraswap. We suspect this is mostly due to traders using these exchanges as an escape valve from risky ERC20s and ETH, into less volatile stablecoins (as we show in our Token Metrics section further down):

Note: table is ordered by ETH descending order

Most non-KyberSwap volume continues to come from unknown sources (we can’t know the source of volume unless the owner of a fee-receiving address notifies us) but amongst the known volume, 1inch.exchange is now the largest dapp integration on Kyber with 14.7% of all non-KyberSwap dapp volumes:

Kyber Katalyst Updates

We’ve been making good progress on multiple fronts for Katalyst and our first round of audits are complete and the dev team are incorporating changes. We also continue to on-board both small and large staking partners so wherever you hold your KNC, you will have an easy option to stake and participate in Katalyst.

We’ve released an important blog post that covers key considerations that went into designing the KyberDAO, how staking, voting, reward distribution and delegation works, and what the next steps towards Katalyst are. If you haven’t already done so, please join our new Discord group as not only do we have discussions on all things Katalyst here, it’s also where the Pre-vote Poll will be conducted to determine the initial set of variables to start the new network with.

A must read for all Kyberians

As a bonus, here’s an introductory video our graphics team have created to give you an overview of how the KyberDAO and KNC Staking works:

Kyber DeFi Updates

With crypto markets all over the place and prices swinging up to 60% within days (with one day in particular now unfortunately going down into history as Black Thursday😬) many DeFi dapps and especially dex aggregators saw impressive increases in their volumes:

New Kyber Dapp Integrations

Rarible

This month we have the pleasure of welcoming Rarible to the Kyber ecosystem. Rarible is a cool new platform for creating and selling digital collectibles. Users can create these collectibles, in the form of non-fungible tokens (NFTs), by specifying various parameters, and buyers can purchase them with any ERC20 in their hot wallets using the integrated Kyber Widget.

Bullionix

Bullionix is another NFT related dapp that’s integrated Kyber in March allowing ERC20 tokens to be converted into DGX tokens which are then used to mint gold-backed NFT collectibles. Minters can choose from different design molds and interact with the digital gold display cases.

Unstoppable domains

And lastly, this month saw KyberWidget deployed on IPFS and linked to the Unstoppable Domains record kyber.crypto. This alternative to the conventionally hosted KyberWidget allows both the widget UI and the name that resolves to the KyberWidget to be hosted in a decentralized and distributed manner making it much harder to censor or stop.

Reserve Manager and Token Metrics

Reserve Metrics

Unsurprisingly given the huge increase in the number of trades last month, reserves have been busy providing liquidity to the market and trying to keep their reserves balanced through volatile times.

Strongest growth for the month came from OneBit Quant, a Fed Price Reserve (FPR) that provides liquidity to stablecoins like USDC, USDT, PAX, and DAI, as it saw its volumes grow 363% from $3.2M volume in February, to $15M in March:

Token Volumes

The rise of the stablecoins continues and as crypto markets were pummeled and margins were called, we saw significant demand for stablecoins. Stablecoins now make up a majority of volume not just across Kyber but across almost all liquidity providers.

Worth noting that since listing in March, Unibright (UBT) has also seen strong demand right out of the gate with over $4M in volume in its first four weeks making it the fastest growing token ever launched on Kyber.

New Token Listings

New additions to Kyber’s 81 traded tokens this month include:

Loom [LOOM] — Loom is a layer 2 scaling solution for high-performance dapps while LOOM is the PoS token used to secure mainnet. Announcement

Origin [OGN] — Origin is a platform for building peer-to-peer marketplaces. OGN is used as an incentive mechanism to grow the platform. Announcement

Provable [pBTC] — pBTC is an ERC20 token that is 1:1 backed by BTC with owners able to instantly mint pBTC by locking up BTC. Announcement

Storm [STORM] — Storm is a gamified microtask platform that rewards users with STORM and other crypto for completing new tasks. Announcement

LOOM and OGN are maintained by Automated Price Reserves (APR) while pBTC and STORM are mainted by Fed Price Reserves (FPR)