Kyber Network has made two major announcements. One deals with the integration of Verse DEX, and another deals with the list of $VERSE. No matter the point one picks first, it is definitely to bring mutual positives for both communities.
Verse DEX has integrated with KyberSwap. This officially brings another layer of liquidity to Ethereum. Additionally, Kyber Network has now listed the native token of the ecosystem, $VERSE. It is the official token of Bitcoin.com.
The integration and listing will help the community in accessing a wider source of liquidity and better rates with KyberSwap.
The development follows KyberSwap announcing the completion of 20 days of its expansion to zkSync. This is crucial because KyberSwap has, so far, integrated a total of three decentralized exchanges. These are Mute.io, Velocore, and SyncSwap. The introduction of these decentralized exchanges, also known as DEXs, aligns with the mission of covering 99.99% TVL, that is, Total Value Locked.
KyberSwap has opened the doors for the community to suggest, making it easy for them to share which other DEX they should cover.
As for KyberSwap and zkSync collaboration, the deployment pertains to KyberSwap Aggregator and Classic Liquidity Protocols. The goal is to consistently provide users with the optimal swap rates in the segment of DeFi. Calling this a significant milestone, KyberSwap has stated that the integration solidifies its position as a decentralized crypto exchange aggregator while also bringing them closer to delivering swap rates that are optimal. Not to forget, seamless transactions on DeFi are under the umbrella as well.
Victor Tran, the Chief Executive Officer of Kyber Network, has expressed their belief in the potential of zkSync, highlighting that it can revolutionize the industry.
VERSE is the official token of Bitcoin.com. It was last seen exchanging hands at $0.0003696. Verse DEX is now an alternate destination for interested traders of $VERSE. The development of Verse follows the venture bringing to everyone’s notice the opinion put forward by Balaji Srinivasan. They have highlighted that the US government needs to drop its commitment to maintaining the dollar’s reserve-currency status.
Balaji is the former Chief Technical Officer of Coinbase, who just went on to add that it is actually Biden’s new top economist who made this remark in 2014. They authored an article titled Dethrone King Dollar.
It opined that the dollar’s role as a currency could be undermining job growth in the country. This comes to light right now because Joe Biden nominated Bernstein for the Council of Economic Advisors sometime in mid-February this year. Bernstein is also of the opinion that China has a huge role to play in seeking an end to the dollar’s dominance because it helped countries across the world to sanction Russia after the war with Ukraine.
Simply put, Verse and KyberSwap are coming from crucial developments. The integration is a milestone that adds an achievement to their roadmap. Per the current details, the collaboration brings another dynamic liquidity layer to Ethereum and the token on their network.
