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The initial integration involves adding FuseSwap to Krystal’s DEX aggregator and a co-marketing push.
The last twelve months have seen a big breakthrough for the decentralized finance, or DeFi, industry. Multiple projects have gone, in a short space of time, from being virtually unknown to occupying center stage in the entire crypto space. More than $50 billion in crypto assets is now locked in various DeFi protocols, and leading decentralized exchanges are beginning to rival their centralized counterparts in terms of trading volumes.
Nevertheless, despite the impressive progress, DeFi faces significant obstacles to achieving mass adoption. One of the challenges the industry faces is that different protocols are not easily interoperable with each other and have different points of access. Some tokens that users may want to interact with may be available on some protocols but not others, which means that they need to learn several different complicated user interfaces to take full advantage of the opportunities available in the DeFi space.
Making decentralized finance accessible to the greatest number of people is a key priority for the Fuse team, which is why we are excited to announce the upcoming integration with Krystal, a new project from the KyberSwap team and one of the dapps that is utilizing Kyber Network’s ecosystem.
Putting All of DeFi into One App
Kyber Network is a leading DeFi project whose main product so far has been a decentralized exchange (DEX) based on Kyber’s own automated market maker (AMM) technology. It recently received a major upgrade with the introduction of the Dynamic Market Maker (DMM) functionality. Kyber is powering more than 100 integrated projects and has facilitated close to US$5 billion worth of transactions since its inception.
Krystal is a recently launched project of the KyberSwap team. Its core product is the DeFi mobile application that was recently launched on Android and iOS. The app’s goal is to combine multiple DeFi features for users on a single platform in an intuitive way. The supported services will include a non-custodial wallet, DeFi browser, DEX aggregator, token swaps, lending, yield farms and crypto investment portfolio management.
A key element of the Krystal app will be its DEX aggregator. The objective of the DEX aggregator functionality is to enable users to trade more than 30 thousand token pairs through a single interface. Krystal achieves this by opening access to other DEXes in addition to Kyber Network, starting with Uniswap.
How Fuse Will Integrate Krystal
Fuse and Krystal will work together to enable the integration of Fuse’s native decentralized exchange (DEX) FuseSwap into the DEX aggregator on Krystal. This will help raise awareness about FuseSwap among the wider DeFi community and it will also provide an important new way for traders to interact with it.
In addition to the FuseSwap integration, Fuse RPC will be added to the Krystal wallet, enabling users to utilize tokens issued on Fuse Network in the DeFi protocols accessible through the Krystal app.
In the coming weeks, Fuse will also conduct a co-marketing campaign together with Krystal, including AMAs and the Learn and Earn program. Stay tuned for the announcements on our social channels.
About Krystal
Krystal provides an immersive and frictionless DeFi user experience that will save users time, money, and effort by consolidating the best DeFi services under one roof. It incorporates a range of popular DeFi features, including exchanging tokens with different DEX protocols, earning interest by supplying tokens, hassle-free portfolio management, and a referral program.
To learn more about Krystal, please visit their website, or their social media channels, including Twitter and Telegram.
We are delighted by the major collaboration with a leading DeFi project and are looking forward to building an open-access DeFi system together with Krystal.
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