Krystal welcomes newest protocol integrations, bringing users access to 9 new DeFi services
By: Felicia Phua
Tags: Ethereum Blockchain, Decentralized Finance, Polygon Network, Binance Smart Chain, News

1. Krystal expands to Polygon

At launch, Krystal first supported the most popular DeFi services on Ethereum — token swapping and earning passive income. Soon after, we brought to users the benefits of fast & cheap transactions in our next major update — integrating with PancakeSwap to enable token swaps on Binance Smart Chain (BSC).

We are now happy to announce that Krystal has expanded to the Polygon network (known formerly as Matic), a popular platform for Ethereum scaling and infrastructure development. Polygon has been gaining traction in the DeFi-sphere; its transaction speed and extremely low transaction cost have made it a popular alternative to Ethereum. Its scaling solutions have seen widespread adoption, with ~200 million USD in trade volume and over 1.3 million unique users.

Krystal users will now gain access to multiple liquidity sources on Polygon via integrated DEX protocols KyberDMM, SushiSwap & QuickSwap, and can earn interest by supplying tokens on Aave V2.

Support for Polygon network is available on all platforms — iOS, Android and Krystal Web.

i. Users enjoy lower slippage on token swaps with Krystal’s native integration of KyberDMM

KyberDMM is the world’s first Dynamic Market Maker on DeFi with extremely high capital efficiency and flexibility.

When you swap tokens via KyberDMM, it automatically goes through all its liquidity pools available to find the pool with the best price (that also supports the trade size). As trades go through amplified pools, you enjoy lower slippage due to much higher capital efficiency.

With KyberDMM’s recent deployment on the Polygon network, Krystal users can now query KyberDMM for the best token swap rates on both Ethereum & Polygon.

ii. Users can swap tokens exclusive to SushiSwap across all our supported blockchains, with Krystal’s native integration of SushiSwap

SushiSwap is one of DeFi’s top Automatic Market Maker (AMM) available on top blockchains and layer-2 solutions.

With Krystal’s integration of SushiSwap, users can now enjoy swapping a variety of popular tokens that are not available on other AMMs. Available on all three of our supported blockchains — Ethereum, BSC and Polygon, you can choose your preferred network to transact on!

iii. Krystal brings you access to QuickSwap, a top DEX on Polygon

QuickSwap is one of the leading DEXes powered by Polygon Network’s layer-2 scalability infrastructure. With Krystal’s integration of QuickSwap, you can trade any ERC20 asset at lightning-fast speeds with near-zero gas costs.

iv. Earn passive interest by interacting with Aave V2

Aave is the leading liquidity protocol for earning interest on deposits and borrowing assets on Ethereum and Polygon. If you have previously deposited tokens on Aave (on Ethereum), we’re sure this new update will be much welcomed.

With Krystal’s expansion to Polygon, you can now:

Switch to the Polygon network

Access the “Earn” tab

Start depositing tokens and generating interest with Aave V2, whilst enjoying lower gas fees

v. Earn Krystal Points on Polygon

And of course, Krystal’s exclusive rewards program does include trade activities on Polygon.

Import your wallet on Krystal.

Go to the “Krystal Points” tab. You will be able to see the referral codes assigned to your wallet address.

If your wallet supports more than 1 network, the same referral codes will be applied to your wallets on the other networks.

For example: Metamask supports all 3 networks. I have the same wallet address across Ethereum, BSC and Polygon, so I have the same referral codes across all 3 networks.

Krystal Points will differ based on the blockchain you earn it on. This means for trades on Ethereum you earn eKP, and trades on BSC earns you bKP.

For trade activity on Polygon, you earn pKP, which you can then redeem to MATIC.

To learn more about Krystal Points and the Referral Program, you can read about it here.

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