#113 - The Truth About Kyber Network - Transcripts

November 16, 2022

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People are losing faith in centralized crypto exchanges. With recent devlopments in the market, more and more users are moving to decentralized exchanges (DEXs) as an alternative. Today, we take a deep dive into a leading DEX aggregator with some interesting DeFi options that are worth investigating.


this is the truth about Kyber network

we're about to reveal some crazy facts Kyber network that you don't know about

welcome to the bean pod this is your place for all things stocks and crypto from beginner tips to expert picks use this as fuel for your investing journey because when you're in the know your money will grow this episode the beam parties sponsored by club or swap hi Chris what is it dax index aggregator which is built to facilitate all your defined needs in one single platform fast cheap and safe user experience is copper swaps sole focus to make everyone's life better Indy five welcome to the bean pot this is Shane A. K. the jolly green investor

this is Josh the nifty investor

today we're going to be revealing the truth about Kyber network

if you haven't heard of Kyber network which you probably have because they are an official sponsor of the bean pod we're going to reveal some crazy facts that maybe you haven't heard about


understand what is carbon network what is Congress what do you what's in there you go system is a project you should buy is it something you should buy and we'll go into the truth about everything that we like about it

and they've got some really exciting news and new features rolling out which is why it's a good time for us to really do it take a deep dive into this project

I'm interested here but let's go

so disturbing the top hyperswap Kyber network is basically the ultimate decks aggregator so it's take imagine taking you swap pancakes swap sushi swap trader Joe you know all the decentralized exchanges from all the blockchains and putting them all in one platform it's the easiest to use easiest to use platform that has basically everything twenty thousand plus tokens across I don't know

what chain twelve chains

I mean just from that so right away it's like okay you don't have to keep going these different taxes you can just use copper swap that attracted us to it immediately I mean that's for first of all that's just the tip of the iceberg right so you can you can swap any chain cross chain any token it tells you where to buy it does it all for you right it gives you the best rates because it's it's taking all the rates from all the different taxes and give me the best rates

yes seventy different axes funny actually have over twenty four billion in total value locked across all these all these taxes

it's a very popular platform

yet I'm so the thing about carver swap which is one of the core features of Kerr network is the fact that you can swap for the really some of the best rates because this is decks aggregator they can figure out which platform is offering the best rate the best time allowing a trader so let's say you want to swap the USTC former dot something that's on the binance my chain I got the hello token for example you'll get it


a cheaper rate than you would if you were to swap it on pancakes swap and it has all the tokens they're seeking and let's say you're looking for something on the polygon polygon network or or the on the Ethereum network you can still make all the swaps there versus having to go from you know swap them over the pancakes what to get your hello talking you can do everything all in one platform

right and you know the the use case of that just this technology itself is you know is almost unlimited so they have over one hundred top integrations because when you think about something like a cross chain or attacks a group Gator this can be integrated with any sort of wallet that wants to use you know if you're using metamask across water or any kind of new wallet if you want to make a swap they can use Congress web technology their API to integrate that every token you can swap it using their API how about how they can N. F. T. or T. E. commerce platform that wants to accept payments if you want to accept payment in a certain token but the platform itself wants to immediately swap it from X. token to USD see whatever they can use copper swaps API to automatically swap it from their backend right to so many different applications and converting stable coins can bring tokens automatically that they are decks aggregator platform can be used for

which is probably why they've most recently partnered with operate browser right the basic attention token one that we talked about previously this will almost attempting to replace Google chrome like the web three browser if you will so if you're in the metaverse and your shopping OP one location or doing something and and and one cryptocurrency but you need to convert it to another here's where carver swap and the cover never comes into play

right so okay so that's kind of you know the first thing when you go on the car swap up site that's we're gonna see cross chain tax at greater all kind of stuff and then another feature that we've been talking about which is another thing that we like about this platform is the true side technology right so this is kind of a it's a new feature is something they're still building to perfect but we found some interesting altcoin gems using this technology which analyzes on chain data like volume trends activity and finance projects that are trending now and which could be at a C. the be the best part trending soon

right and that you're right they are still working on this technology to to perfect it because when you can eventually identify what's trending soon that's gonna give you such a competitive advantage and you know sometimes you do want to the trending part of the website our all covered networker cover swap you can see something you can see a product but it's already up like seventy percent to me that can be a good thing because a it's gonna highlight other projects that could be similar to it so let's say you see a metaverse talking that's up seventy percent start dive into other metaverse token twenty research tool find some other ones where there's a trend occurring right now and another man ever spoken to pop


if you're into shorting tokens Daniel Hey this one's up seventy percent already I'm gonna look to short the stock in


you can use in two different ways and I think that's why the trending true say technology is so cool when the event you protected from the training scene perspective W. game changer

yeah and and the great thing about you know when you integrate that with a platform that is a deck segregate you go to the true side technology see the products that are trending now or training soon and you can buy them directly from any click it it expands it shows you the chart it shows you what blockchain it's on it takes you right to their swap and you can buy it directly from the platform


so it's just it's a one stop shop for all the kind of stuff so there's a lot of things from you know if your crypto noob you go on to this and you can do everything from there but that's not really the real foundation of Kyber network in Congress walking one of the things that really sets them apart is they're defy options and also the token so the token is interesting because it's run by the copper doubt right so if you have the K. and C. token you can stake the cans see to get rewards and also vote on the future of the platform which I really like and then one thing that we've covered in an episode before is how they are and especially through some of the recent partnerships one of the authorities for defy staking farming and pulling in crypto yeah we did that upset about their partnership with lot of finance I don't I yeah a lot of doubts so there's a lot of there's a lot of cool things that you can do if you're into defies well

that those for outlook with staking rights you can pop in and out so with most staking platforms you need to have a locked for you know thirty days sixty days ninety days the liquid staking and everything at Congress office doing and common network with other partners you can get in and out a lot quicker from your staking pools and see reward for it so if you are somebody revised liquidity to a certain pool you can die S. C. you can earn interest on what you provided but then you're not locked in so there's a lot of flexibility there

in their partnership with Lotto doubt that I think they were the number one liquidity provider on the Ethereum blockchain so they had a huge run up to the Ethereum merge because everyone was staking their teeth to try to you know get it on the E. two point oh and stuff like that right so there's a lot of had a lot of tailwinds there so it is definitely something that people I mean defy was insanely hot last summer it was the defy summer around was staking pulling getting these amazing rewards and I think that's what one of the things that really spurred that massive explosion of the KMC token that we saw last year now it has come down significantly since then like basically every token it has shipped out for sure but that's kind of I think this you know this episode might be time very well because you wanna buy low and sell high and this thing has come down from I don't know five dot ours too was that maybe I can use

it has a eighty seven cents

yeah so it's it's down a lot

yeah and you know if you paid attention to our Twitter account or discord any of our podcast we do try to find products that are beaten down and then highlight them why it could be a good time to enter into start position right now it is trading at what seems to be an all time low

yes so you want to get into a good you know this isn't some new project this project however swap covers cover network has been around since twenty seventeen seventeen so it seemed to bore us basically this is an established team with a strong community strong technology they're always building and it's trading at all time low right now which is one of the reasons why we decided to do the steps so to highlight what they've been doing lately

yep coin coin market cap hides it that eighty percent there are tokens are in circulation at the moment okay so they shouldn't be too many more unlocks

feel like there was there's been a lot of you know fear uncertainty and doubt fight about these defy platforms after what happened with you know Luna and Celsius all kind of stuff but that there are still companies that are doing it the jets and you know it when you look into what Congress office done in their track record you know this has been around for going on five years now I think you can't really discount it just but just based on what has happened with other projects right

yeah I absolutely agree so I think one of the biggest questions people would have would be like what's what's the difference between you know copper swap verses a Eunice WAP I why am I gonna come to Congress offers unique versus units are using you to swap that's so easy using immunity is that

you have done nothing in this well yeah so what would be one of the advantages

so the biggest difference is being able to earn more through compounding interest


so basically what you can do is you can provide it's really interesting with copper swap elastic let's get into that

so this is their new this is the new one is new yes

right so you can provide lip liquidity to pool right you can start earning interest the interesting thing is if people start swapping through your

through your package to your pool you can start earning interest on every trade that occurs through you so let's say you provide ten thousand dollars you can set the interest rate to one percent you can start seeing you know a dollar for every trade and going through your liquidity pool

right so your call is becoming like a market maker

that's right

and using with the covers off a last check you can provide liquidity to a pool and get rewarded in a much more efficient way so with converse Chuck classic or in liquidity pools on other defy applications you have to you could maybe provide you have to provide a ton of liquidity to really see significant rewards yet but with hyperswap elastic because it has these automated features you can provide less liquidity but still be rewarded out especially stable coins because it it's giving better slippage all kinds of volume and you just basically get more more bang for your Buck in in simple terms

and so the biggest difference is if you are one of those individuals are pretty is providing that liquidity it's the reimburse reinvestment curve that Eunice what doesn't do this because you can do this on your swap as well as the fact that reinvest your interest for you automatically means a typically if you did three years hopped you aid R. provide liquidity you would then receiver interest but then your interest would just sit on the sidelines and nothing would you wouldn't get the extra money you could be earning so let's say you earn a thousand dollars in interest that's not be reinvested for you sure now you're earning interest on top of that thousand dollars in interest you just got

yeah it's auto compounding fee that's it and that's a game changer because if you're you know if you're investing money are staking money and providing liquidity you can potentially earn excellent rewards using copper network and now this compounds and investing compounding is the holy grail compounding investments you know you're a hundred percent and that hundred percent doubles and the doubles and doubles and then after you start getting ten X. fifty X. a hundred acts exactly and I really can't drive that point home enough that this feature if you are into providing the quiddity any defies your thing this is a massive competitive advantage that will not only attract users to calm the copper network but once the Bull Run returns should spur huge interest again in the copper network token because people want to be involved this platform that has innovative defy technology

exactly I think the only thing holding the Congress what back from being like a mainstream pop form is people's habits right like we find a project on quite market cap that we really like and we say okay where can we try to work on me how can we obtain this token typically what you know we're using to call nine reason Eunice wall up but sometimes you can be paying like such high fees you know remember that they're in gas phase like the roof


right and they're super confusing to have to try to use a Polly gone like the your metamask


really confusing covers off is a lot easier but the difficulty is going to be bringing on mass adoption because people have their habits right so what they've done to what I found really interesting is they keep give it they keep having these contests and that's what is bringing people to their defy platform right right so they have these trading contest where if you trade our tokens within the plug on network for example the person does the most about traits can win a portion of like a twenty thousand dollar pool rights rather really incentivizing people to start using the platform I think if they keep doing this contest


they are an excellent opportunity to a check on the platform but the win some money as well at the same time

definitely I mean it's it's all it's nice to see a platform that's still doing these contests and stuff during a bear market when a lot of platforms have basically gone silent so you know you always wanna see activity and another cool thing that I want to highlight about their new the new covers up a lasik in I think again one of the barriers to adoption for defy is especially after what happened the summer is security you know hacks and all that kind of stuff so they've added what's called just in time protection to cover sob elastic so it's it is a little bit technical but basically it's like it's an anti sniping feature where the trading fees earnings that you earn from being a liquidity provider are quickly vested based on the duration so it attempts to stop attackers from quickly getting in and out and trying to like sneak the fees


so I mean you can read all about it in there they've got medium medium blog post about it that really detail it but the the high level simple analysis is that if you're providing liquidity your earnings are being protected by this new technology

yeah because you don't respect our because of a big welcome through an office and got take off ten you've been

let's say so it

it takes away the risk so if you're a small fish and you're only you know providing couple couple grand liquidity and you've been there for you know thirty days but now welcomes them provide way more liquidity than you for about five minutes they're the ones taking a reward with feedstock like


prevents that

yes I think that's it's just you wanna find platforms that are building things that are good encourage users to come to the platform and in return in conjunction build up hype for the token because as an investor and one of your best in a crypto token you once he returns on that and as we said the KMC token is almost trading at all time low however when you look under the hood like we have today you can see they're continuing to build new features that separate them from the competition

and they're doing things to incentivize new users to come to the pop form which is in turn a form of marketing really

and I mean you know this thing was it sat around maybe a hundred and hundred twenty hundred thirty million dollar market cap right now

yeah one fifty currently the two hundred fully diluted

yes I mean this thing was a lot higher in in Las Paul Ryan and as we always say things just to have a call defy will probably come back into hype again and we're looking for a platform that has basically said look we're going to continue making amazing features regardless of what people think of the industry were because of what all the fuss around defy you guys are building you know I use covers up to make swaps interment instead of you know going around to trader Joe's shoe she swapped her all this kind of stuff I think it's a great way to onboard new people to crypto because it shows you the training projects defy can be a little complicated but I think what they're doing is is really exciting

like you mentioned the medium articles one I actually have learned way more but the defy space just thirties medium articles and understanding compounding interest in the reinvestment curves to just in time sniping all these things so

deathly fascinating and I think people should spend a bit more time researching defy because at some point it will come back once we get through you know the sushi swap guide everything that he did and yes


and you know what that what would happen without some of these other defy pop forms

yeah I mean look so in conclusion what is the truth about Congress what I think it is again it's it's a sleeping giant right now because it has had a huge hype running a lost ball run they are building new features they have competitive advantages not only with their technology their platform the way the tokens constructed they've got a great community and right now no one wants anything to do with it because the token is low but that's when you should want to have something to do with it because the token is low pressure seven so I'm not taking off my watches that's for sure media so Hey makes you guys like and subscribe and tune to the next episode that one's going to be a banger

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