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    How KyberSwap Elastic Differs From Uniswap V3

    The KyberSwap Elastic Protocol is a recent product of the Kyber Network that offers flexibility to LPs, helping them maximize their rewards.

    Home DeFi DeFi

    How KyberSwap Elastic Differs From Uniswap V3

    The KyberSwap Elastic code is open source while the Uniswap V3 code is licensed.

    By Lawrence Mike Woriji -

    August 11, 2022 Twitter Telegram Facebook WhatsApp Linkedin Pinterest ReddIt

    Kyber Network recently announced the launch of the KyberSwap Elastic, which allows users to provide liquidity to a pool within a custom price range (concentrated liquidity). KyberSwap Elastic brings flexibility to users, allowing them to provide liquidity to pools with different fee settings.

    TLDR – If you want to deposit liquidity and don’t want to return every day to reinvest, KyberSwap Elastic is probably the best choices out there. It give you access to 11 chains and it allows you to swap tokens and get one of the best exchange rates on these chains – all within one platform.

    The KyberSwap Elastic protocol automatically reinvests users’ fee earnings by adding them back into the liquidity pool, enabling them to earn more fees from compounding. The protocol also acts as a shield from sniping attacks. KyberSwap Elastic comes ready-made with an anti-sniping feature that ensures that attackers do not take advantage of liquidity providers during a swap.

    Since the launch of the KyberSwap Elastic Protocol, there have been many comparisons between it and the Uniswap V3. Some have even assumed that the Elastic Protocol is a fork of the Uniswap V3. Although both platforms are strong competitors, such claims are false.

    The Uniswap V3 source code is under the Business Source License 1.1. This means that it is not fully open source. Due to copyright policies restricting unauthorized commercialization of the source code for two years, the earliest a fork of the Uniswap V3 can take place is in 2023. So, the KyberSwap Elastic Protocol is not a fork of the Uniswap V3. Instead, it was developed with original source code.

    The confusion surrounding both platforms is quite understandable since they are similar in many ways. For example, both protocols are tick-based AMMs and have customizable price ranges. They also use NFTs to represent liquidity positions. But that’s all there is to their similarity. The Elastic Protocols differ from the Uniswap V3 in several ways. Let’s look at them.

    Compoundability

    One of the core differences between the two protocols, Compounding refers to the process of gaining revenue on an asset’s reinvested profits. On Uniswap V3, users claim their fees separately, and there is no room for compounding. However, KyberSwap Elastic allows for compounding and fees can be claimed separately. The reinvestment curve on the protocol allows LP fees to be automatically reinvested back into the liquidity pool and enhance their earnings.

    JIT/Snipe Protection

    Security is a part of the core values of Kyber Network, and the Elastic protocol was deployed with ready-made security features. One such example is the JIT/Snipe protection feature. A snipe attack usually aims to steal fees generated in a swap. However, the Elastic protocol snipe protection tool prevents this.

    KyberSwap Elastic’s JIT/Snipe Protection locks the trading fees and earnings of liquidity providers and vests them based on the LP’s duration of liquidity contribution. So, in this way, KyberSwap Elastic ensures the safety of the earnings of each liquidity provider.

    On the other hand, the Uniswap V3 protocol does not have this feature.

    Connectivity

    As of now, 11 chains presently use KyberSwap Elastic while the KyberSwap Classic is deployed on 12 chains. This increases the flexibility, accessibility, and possibility for LPs and traders to use KyberSwap in any ecosystem of their choice.

    On the other hand, Uniswap V3 is only deployed on 5 chains, some of which already support KyberSwap Elastic.

    Conclusion

    The launch of the KyberSwap Elastic protocol was not simply to create more competition in the industry. Instead, it was to offer and enable collaboration in the DeFi market. Both platforms are distinct in their respective ways and are not clones of each other. While the Uniswap source code is licensed, the KyberSwap Elastic code is open source. This means that developers are welcome to fork it.

    Kyber Network prides itself on running a transparent system. And opening its code to other developers mirrors its goal of enhancing collaboration in the DeFi space.

    Stop losing money on DEX exchange fees! Use Kyber’s aggregator and get access to one of the best exchange rates from 11 chains and 80 DEXs today.

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    Announcing our new KyberSwap protocol — KyberSwap Elastic

    KyberSwap Elastic inherits all the powerful features of KyberSwap Classic, while giving you concentrated liquidity and the flexibility to take your earning strategy to the next level. To keep up with…

    Announcing our new KyberSwap protocol — KyberSwap Elastic

    KyberSwap Elastic inherits all the powerful features of KyberSwap Classic, while giving you concentrated liquidity and the flexibility to take your earning strategy to the next level.

    To keep up with the ever-changing landscape of DeFi, KyberSwap has been working tirelessly to evolve to meet the relevant needs of Traders and Liquidity Providers.

    As such, we are proud to announce KyberSwap’s new protocol: KyberSwap Elastic!

    KyberSwap’s existing protocol known as KyberDMM will henceforth be renamed to KyberSwap Classic. KyberSwap Classic, the world’s first Dynamic Market Maker, was able to reflect market conditions to dynamically adjust the fees and optimize returns for Liquidity Providers with its extremely capital efficient model.

    Concentrated Liquidity on KyberSwap ElasticKyberSwap Elastic takes things a step further with its concentrated liquidity! Liquidity Providers (LPs) now have the flexibility to supply liquidity to an Elastic pool using a custom price range of their choice to determine how ‘concentrated’ the liquidity is. LPs can concentrate liquidity by using a narrow price range for the token pair. This way, liquidity in the pool is used more efficiently, mimicking much higher levels of liquidity and achieving better slippage, volume, and earnings for LPs. This is especially effective for stablecoins and correlated pairs (e.g. USDC-DAI) which have little movement in price.

    Of course, LPs also have the option to set a wider price range or even a full price range (0 to infinity). This ensures that liquidity for uncorrelated token pairs such as USDC-ETH remains active even with big price swings during high market volatility.

    Overall, the customizable price range of Elastic pools provides LPs with greater flexibility to achieve capital efficiency and manage risks, while rewarding them for having a sound liquidity strategy. Elastic pool fees also auto-compound so LPs earn higher APY!

    Designed to provide unparalleled flexibility, security, and returns, KyberSwap Elastic provides a diverse set of features primarily for LPs with distinct liquidity needs and risk appetites. Ultimately, with this innovative protocol, we can expect the overall liquidity on KyberSwap to increase, thereby benefiting the KyberDAO and KNC holders as well.

    *KyberSwap Elastic has been audited by Chainsecurity. Download the audit report here and the KyberSwap Elastic Whitepaper here.

    To sum up, the key improvements KyberSwap Elastic has over KyberSwap Classic are as follows:

    Customizable Concentrated Liquidity: Instead of adding liquidity to a determined price range (like in KyberSwap Classic), Kyberswap Elastic allows LPs to get granular with their strategy by adding liquidity to a specific price range of their choice. LPs get an NFT that represents their liquidity position and their share of the pool.Flexible Strategies: With greater customizability options, you will be able to better plan investment/exit strategies depending on your risk tolerance with greater control.Risk Control: With KyberSwap Elastic’s customizability, you will also be able to retain closer control over the tokens’ buy/sell range. This increased control would allow you to mitigate losses brought about by Impermanent Loss.

    But that’s not all! Check out the other cool advantages KyberSwap Elastic brings:

    5 Fee Tiers: 0.008%, 0.01%, 0.04%, 0.3% and 1%. Liquidity providers can select the fee tier they want after considering how correlated the token pair is. The 5 different tiers bring about superior flexibility for liquidity providers compared to other DEXes. We plan on adjusting these fee tiers with time.Auto-Compounding of Fees: We automatically reinvest the fee earnings of our liquidity providers by adding it back into the liquidity pool, so they earn more due to compounding. Liquidity providers can withdraw their tokens and collect the trading fees they have earned anytime.New Farming Mechanisms: We’ve created an innovative liquidity mining (i.e. farming) system for KyberSwap Elastic which distributes farming rewards to users according to:a) Active liquidity contribution: According to the liquidity provider’s contribution to the corresponding pool’s active liquidity (liquidity that is within the active price range).b) Active liquidity contribution + trade volume supported: We take it a step further, and can also distribute farming rewards based on the total trade volume that is supported by the liquidity position(s) of our users. The more trading volume you support, the more farming rewards you will earn.

    These farming mechanisms complement the price range flexibility since it depicts different liquidity positions as well as the risk that liquidity providers take.

    Just-in-Time (JIT) Attack Protection Feature: We’ve implemented an anti-sniping feature where the trading fee earnings of liquidity providers are locked and quickly vested based on the duration of their liquidity contribution. This feature is implemented to stop attackers from putting in and pulling out their liquidity ‘just in time’ to earn huge trading fees without having to deal with impermanent loss, which would reduce the earnings of other honest liquidity providers. This means LP earnings are better protected on KyberSwap compared to other platforms!

    स्रोत : blog.kyber.network

    What is KyberSwap Elastic? KyberSwap Elastic inherits all the powerful features of the KyberSwap Classic. It also gives you concentrated liquidity and the flexibility to take your earning strategy to the next level.

    To keep up with the ever-changing landscape of DeFi, KyberSwap has been working tirelessly to evolve to meet the relevant needs of Traders and Liquidity Providers. KyberSwap’s existing protocol known as KyberDMM will henceforth...

    CRYPTOCURRENCY NEWS

    What is KyberSwap Elastic? KyberSwap Elastic inherits all the powerful features of the KyberSwap Classic. It also gives you concentrated liquidity and the flexibility to take your earning strategy to the next level.

    BY EVAN WALKER 07 09, 2022    143 VIEWS

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    Slot is empty. Put your advertisement now!

    To keep up with the ever-changing landscape of DeFi, KyberSwap has been working tirelessly to evolve to meet the relevant needs of Traders and Liquidity Providers.

    KyberSwap’s existing protocol known as KyberDMM will henceforth be renamed to KyberSwap Classic. KyberSwap Classic, the world’s first Dynamic Market Maker. It was able to reflect market conditions to dynamically adjust the fees and optimize returns for Liquidity Providers with its extremely capital-efficient model.

    Concentrated Liquidity on KyberSwap Elastic

    KyberSwap Elastic takes things a step further with its concentrated liquidity! Liquidity Providers (LPs) now have the flexibility to supply liquidity to an Elastic Pool. Using a custom price range of their choice to determine how ‘concentrated’ the liquidity is. LPs can concentrate liquidity by using a narrow price range for the token pair.

    This way, liquidity in the pool is used more efficiently, mimicking much higher levels of liquidity and achieving better slippage, volume, and earnings for LPs. This is especially effective for stablecoins and correlated pairs (e.g. USDC-DAI) which have a little movement in price.

    Of course, LPs also have the option to set a wider price range or even a full price range (0 to infinity). This ensures that liquidity for uncorrelated token pairs such as USDC-ETH remains active even with big price swings during high market volatility.

    Overall, the customizable price range of Elastic pools provides LPs with greater flexibility to achieve capital efficiency and manage risks. While rewarding them for having a sound liquidity strategy. Elastic pool fees also auto-compound so LPs earn higher APY!

    Designed to provide unparalleled flexibility, security, and returns, KyberSwap Elastic provides a diverse set of Features primarily for LPs. With distinct liquidity needs and risk appetites. Ultimately, with this innovative protocol, Kyber Network can expect the overall liquidity on KyberSwap to increase. Thereby benefiting the KyberDAO and KNC holders as well.

    The key improvements KyberSwap Elastic has over KyberSwap Classic are as follows:

    Customizable Concentrated Liquidity: Instead of adding liquidity to a determined price range (like in KyberSwap Classic), Kyberswap Elastic allows LPs to get granular with their strategy by adding liquidity to a specific price range of their choice. LPs get an NFT that represents their liquidity position and their share of the pool.Flexible Strategies: With greater customizability options, you will be able to better plan investment/exit strategies depending on your risk tolerance with greater control.Risk Control: With KyberSwap Elastic’s customizability, you will also be able to retain closer control over the tokens’ buy/sell range. This increased control would allow you to mitigate losses brought about by Impermanent Loss.

     Cool advantages KyberSwap Elastic

    5 Fee Tiers— 0.008%, 0.01%, 0.04%, 0.3% and 1%. Liquidity providers can select the fee tier they want after considering how correlated the token pair is. The 5 different tiers bring about superior flexibility for liquidity providers compared to other DEXes.They plan on adjusting these fee tiers with time.Auto-Compounding of Fees— automatically reinvest the fee earnings of its liquidity providers by adding them back into the liquidity pool, so they earn more due to compounding. Liquidity providers can withdraw their tokens and collect the trading fees they have earned anytime.New Farming Mechanisms — created an innovative liquidity mining (i.e. farming) system for KyberSwap Elastic which distributes farming rewards to users according to:a) Active liquidity contribution—According to the liquidity provider’s contribution to the corresponding pool’s active liquidity (liquidity that is within the active price range).b) Active liquidity contribution + trade volume supported: take it a step further and can also distribute farming rewards based on the total trade volume that is supported by the liquidity position(s) of its users. The more trading volume you support, the more farming rewards you will earn.

    These farming mechanisms complement the price range flexibility. Since it depicts different liquidity positions as well as the risk that liquidity providers take.

    ABOUT Kyber Network

    Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, its flagship Decentralized Exchange (DEX) aggregator and liquidity platform, provides the best rates for traders in DeFi and maximizes returns for liquidity providers.KyberSwap | Discord | Website | Twitter 

    ABOUT KYberSwap

    KyberSwap powers 100+ integrated projects. Facilitated over US$7 billion worth of transactions for thousands of users since its inception. Currently deployed across 11 chains including Ethereum, BNB Chain, and Polygon. It also support Avalanche, Fantom, Cronos, Arbitrum, Optimism, Velas, Aurora, Oasis, and BitTorrent.

    स्रोत : thebittimes.com

    Do you want to see answer or more ?
    rk 7 day ago
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    What is the biggest difference between KyberSwap Elastic and KyberSwap Classic?

    Mohammed 7 day ago
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    Guys, does anyone know the answer?

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