Krystal DeFi Expands to Support DeFi Services on Cronos and Fantom
SINGAPORE, Feb. 11, 2022 (GLOBE NEWSWIRE) — Krystal DeFi , a multi-chain platform to easily access popular decentralized finance (DeFi) services and manage non-fungible tokens (NFTs), now supports token swaps on Cronos and Fantom. “Krystal DeFi’s main goal is to allow everyone to participate in DeFi and thrive in this space,” shares Sunny Jain (CEO, Krystal). He adds that “by supporting DeFi services on Cronos and Fantom, we wish to expose our users to the advantages of these ecosystems.”
At launch, users will first be able to trade tokens on Cronos and Fantom via SmartSwap , Krystal’s smart liquidity aggregator which optimizes trade orders by splitting and routing them through multiple decentralised exchanges (DEXes) within the same chain.
8 DEXes on Cronos have been integrated on SmartSwap. This includes KyberSwap, VVS Finance, CronaSwap, Crodex, MMFinance, Krypto DEX, EmpireDEX & PhotonSwap.
9 DEXes on Fantom have been integrated on SmartSwap. This includes KyberSwap, SpookySwap, SpiritSwap, PaintSwap, JetSwap, Sushi, Curve, Beethoven x & Morpheus Swap.
As one of Krystal’s investors, Crypto.com’s Head of Capital, Bobby Bao is optimistic about this new development. “We supported the launch of Cronos with the aim of massively scaling the Chain DeFi ecosystem. We are pleased for Krystal to now be with us on this journey to bring Cronos’ advantages of low gas fees and fast transactions to a greater audience.”
On Krystal’s expansion to Fantom, Michael Kong (CEO, Fantom Foundation) shares his anticipation on the possibilities it will bring. “Fantom’s total value locked (TVL) resisted the global crypto market downtrend in the past week, and has risen to become the third-largest blockchain in DeFi as measured by TVL. Krystal’s expansion to support DeFi services on Fantom couldn’t come at a better time. We look forward to it helping to drive adoption of the ecosystem.”
Other than token swaps, the team has […]
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