KyberSwap allows for fast and secure decentralized token swaps in a very simple, straightforward process. There are no order books because we focus on the usability of the platform and offer ease of use for end users and seamless integration for our partners.
Kyber’s design includes an open reserve architecture that allows anyone to contribute their idle token assets to our decentralized liquidity pool and earn from the spread in every transaction. These Reserves provide liquidity to the system by committing their spare token inventory to serve swap requests from users. These tokens become available for use on KyberSwap, and across any other platform that taps into our protocol, making the tokens instantly more liquid and widely usable.
As such, there is no need for retail users to submit buy or sell orders on an order book. KyberSwap will provide users with the best rate based on all the reserves available.