Kyber Network rules the DeFi market in Q1 2020.
In the first few months of 2020, Kyber Network has cemented its place as a top-tier DEX with liquidity and optimal prices.
Kyber witnessed a 4.4x increase in the amount of addresses interacting with the network since January 2020. Broader DEX usage posted record trading volumes in March, which likely accounted for the surge in Kyber’s usage.
However, there’s a huge market for Kyber to tap into if the network successfully tackles privacy issue, one of the most concerning issues of crypto in 2020.
Why is privacy a problem?
No matter how big apps like Kyber, Uniswap or Compound get – traditional investors are unwilling to expose how much they have, and how much they trade, lend or borrow. Their financial activities would be completely exposed on the Ethereum ledger. With DeFi, people have custody of their wealth. Now they need custody of their information.
Incognito mode for DeFi.
Recognizing the importance of privacy to crypto holders in general & crypto traders in particular, we built incognito mode for smart contracts, and pKyber is our first anonymous DeFi product.
pKyber gives you access to aggregated liquidity from not just Kyber, but also 0x Mesh and Uniswap (more than 100 tokens tradable), the best of the Ethereum DEXes, in incognito mode.
And that’s just the start. Look out for privacy Compound, coming June 2020.
How do we do it?
pKyber combines the privacy layer of Incognito chain with the battle-tested EVM of Ethereum. This way, dApp developers can continue to build on Ethereum, and still offer their users the choice of going incognito. This way, DeFi users can continue to use their favorite apps, and still enjoy complete privacy.
How to trade on pKyber?
Here’s how you can start trading on pKyber.
Step 1: Install Incognito app.
Step 2: Shield your tokens to Incognito Wallet to start trading.
Step 3: Open pKyber in the homescreen
Step 4: Deposit tokens from your wallet to pKyber.
Step 5: Start trading.
Step 6: Withdraw from pKyber to your wallet.