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Matic network is now available on the Kyber Network and Kyber-associated DApps platforms. In their recent announcement, Kyber Network onboarded the Matic Network and enabled MATIC tokens for its users with an Automated Price Reserve on the network. Going forward, the MATIC tokens will be completely accessible to the Kyber user community via platforms such as KyberSwap and other DApps on the Kyber Network.
The decentralized exchanges and blockchain platforms supported by Kyber’s on-chain liquidity protocol will provide access to the Matic Network. This new development aims to make the Kyber on-chain liquidity the world’s most popular DeFi protocol. It will be gaining more exposure in the number of users and the number of integrations.
Kyber Network is currently supporting a collective of over 70 ERC20 crypto tokens. Users can easily learn how to buy or sell these ERC20 tokens on the KyberSwap platform. MATIC tokens are the latest to join this list and have been made accessible since August 26th, 2020.
Matic Network expands the usability scale of the Ethereum ecosystem massively by adopting an adapted Plasma version, which is equipped with PoS-based sidechains. The network is highly scalable and can instantly execute blockchain transactions. The Matic engineering team aims to decentralize its products and build a decentralized ecosystem with convenient usability. The Matic-based decentralized transactions are fast, inexpensive, and easy. Users can leverage the power of combinative blockchain scaling on the Matic developer platform by using tools that improve user experience.
Kyber Network considered Matic to expand the reach of its decentralized apps. Kyber DApps are raking in high profits even under their current blockchain ecosystem. However, they need Matic Network’s scalability to cater to their growing demands. Kyber has faced multiple performance issues, from slow block confirmations to high gas fees. With Matic’s scalability, it can resolve the challenges related to a targeted mass adoption of Kyber DApps by mainstream crypto users.
Matic Network’s architecture can also solve Kyber’s problems with its decentralized platform development mechanism on an adapted version of the Plasma framework. It can provide a fix to make Kyber Network faster and extremely low-cost with its blockchain transactions. The Matic-enabled Kyber ecosystem can ensure proactivity with PoS checkpoints monitoring on the Ethereum mainchain. It can further activate a single Matic sidechain for running 2¹⁶ transactions per block and simultaneously executing millions of transactions simultaneously.
