KyberSwap Launches Aggregator on Solana

KyberSwap goes 1 step closer in becoming the most efficient Aggregator in DeFi, providing the best swap rates with a seamless and safe experience.

KyberSwap Launches Aggregator on Solana

By offering the best swap rates along with a simple and secure experience, our goal is to grow KyberSwap to become the most effective Aggregator in DeFi.

And today, KyberSwap advances further in achieving that goal as we become first EVM DEX aggregator committed to bring the best rates to Solana.

Kyber Network believes in Solana’s real technological innovation, with genuine team and builders in the ecosystem and we believe in the potential of the Solana Blockchain to grow into a mainstream giant.

In addition to this integration, Kyber Network is showing our support in the development & growth of the blockchain ecosystem with Solana, starting with initiatives and events in Vietnam.

KyberSwap Solana Vietnam

PS: This is not KyberSwap’s first venture into Solana! In 2021, we announced our collaboration with Mercurial Finance, a stablecoin-focused AMM based on Solana. Learn more here.

What is Solana?

Created in 2017, Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps). Solana’s native token, SOL, provides network security through staking as well as a means of transferring value.Solana’s blockchain network runs on an innovative consensus mechanism that Solana created called proof-of-history, or PoH. When processing blocks via proof-of-stake, PoH builds time stamps into the blockchain, which helps the network operate faster. Solana’s PoH system has allowed it to become one of the fastest blockchain networks. Its network can handle about 3,400 transactions per second, compared with Ethereum’s 15 transactions per second.

At KyberSwap, we appreciate cutting-edge technology that advances DeFi. With Solana’s advantages of better speed, lower transaction fees and reputation for innovation, KyberSwap is proud to be part of this integration that promises a better DeFi future for our users.

Trade with the Best Rates on Solana with KyberSwap

Switching to Solana network on KyberSwap:

Ethereum is the default network on KyberSwap. To switch networks, simply click on the Ethereum button at the top right to switch your network to Solana.

Switching to Solana Network on KyberSwap

Can my Metamask wallet support Solana?

Unfortunately, no. The technical explanation for that is because while Metamask is one of the most popular cryptocurrency wallets, Metamask solely supports EVM blockchains written in the Solidity language. Solana is written in the Rust language.

Simply put, Metamask wallets are incompatible with the Solana network.

So, what wallets do support Solana?

Popular Solana-based wallets include Phantom, Solfare & Sollet. Hardware wallet Ledger also supports Solana but bear in mind Trezor does not.

Check out this article for more information to find the best Solana wallet suited for your needs!

I have a Phantom wallet now. Can I send SOL from Phantom to my Metamask wallet? You cannot send SOL directly from your Metamask to your Phantom wallet.

Phantom wallets only hold native SOL. As mentioned above, Metamask cannot support SOL as it is not EVM-compatible.

If you send SOL directly from your Phantom wallet to your Metasmask, your funds will be lost.

But I see Metamask supports SOL tokens?

Just as there are wrapped versions of BTC on Ethereum, Polygon, BNB chain and more, there are wrapped versions of EVM-compatible versions of SOL as well. As an EVM-compatible wallet, Metamask is able to support these wrapped versions of SOL.Please ensure you are holding the correct version of SOL before conducting any transactions.

Benefits for the Solana & KyberSwap Ecosystems

Solana is one of the fastest blockchains in the world with a rapidly growing user base with strong use cases such as Gamefi, NFTs and DeFi.

Since the bulk of our KyberSwap users participate in DeFi, it’s not a surprise that Solana has been one of the most requested expansions from our community.

By launching KyberSwap’s aggregator on Solana, not only does Solana gain a leading DEX & Aggregator building multichain interoperability for its users, KyberSwap also gains a new avenue to build & develop while moving forward to become the most used decentralized exchange in the world, making DeFi easy, safe, accessible and rewarding for all.

. . .

About Kyber Network

Kyber Network is building a world where any token is usable anywhere., our flagship Decentralized Exchange (DEX) aggregator, provides superior rates for traders in DeFi across 17 chains.

KyberSwap powers 200+ integrated projects and has facilitated over US$20 billion worth of transactions for thousands of users across 17 chains since its inception. Full list of supported exchanges and networks available here.

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