This article was first published on Kyber Network - Medium
With May firmly behind us, we bring you the latest from another busy month of integrations, technical progress and strong growth from the Kyber world. We also present some new geographical and product level data we hope you find interesting.
Kyber Network Growth
Diving right into growth metrics, Kyber Network grew its month-on-month USD volume across its ecosystem from $23.8mm in April, to a new all time high of $38mm in May. This growth has mostly been lead by a combination of increasing liquidity demands from DeFi dapps, new integrations, and a wave of new users who join the crypto space every time markets swing back to positive growth. This growth also marks a new milestone as we burnt the 1,000,000th KNC in May! (more on that later)
Looking at growth by individual integrations, we see most ecosystem participants expand their volume significantly with seven out of ten showing double digit growth, a continuation of a trend we’ve been observing since the start of the year:
For the first time, we’re also presenting you with data on what usage looks like across different geographies and dapp types and we hope it adds more insight to your understanding of Kyber Network.
We start with Kyber’s total volume as it’s distributed across different usage types:
Token swaps through exchanges (dominated by KyberSwap) make up the largest usage of Kyber integrations while DeFi usage makes up the second largest category. This is a testament to how much this space has grown recently, DeFi barely existed as a category at the beginning of the year.
The category labeled other includes a wide range of participants including arbitrage bots and traders that interface with the Kyber smart contracts directly, and various dapps including games and asset management platforms.
KyberSwap Geographic Distribution
Looking at KyberSwap specifically, we see usage from 90 ...
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Kyber Network - Medium