Kyber Network, the decentralized crypto exchange, is set to be the HTC Exodus partner in providing users with crypto-to-crypto trading.
The partnership with Kyber Network was disclosed by HTC Exodus in an announcement via its official Twitter handle.
The @KyberNetwork offers convenient decentralized crypto-to-crypto trading. It's available in your #ZionVault with 60+ supported #Ethereum based digital assets.With #HTCEXODUS you can essentially have a "a metaphorical Swiss bank in your pocket"#CryptoPhone #ColdWallet pic.twitter.com/UTNoyMQBW6
— HTC EXODUS (@htcexodus) March 18, 2020
The new service would be available in the user’s Zion Vault. It would also support over 60 Ethereum based digital assets, the highest any other assets management offers.
The post additionally described the new initiative as essentially having a “metaphorical Swiss bank in your pocket.”
The new initiative will enable users to swap between ERC-20 tokens like Brave’s Basic Attention Token (BAT) and MakerDAO’s DAI stablecoin, directly in the Zion Vault app. It also removes the need to first move tokens to third-party cryptocurrency exchanges.
According to HTC, the crypto swap mechanism would be done on-chain. This would lead to “fast and secure” crypto-to-crypto trading within mobile applications, it added. This would thus pave the way of streamlining the user experience.
Kyber’s advance protocol
HTC also stated that the Kyber’s protocol would allow the integration of decentralized token swaps into any application.
By allowing integration with wallets, vendors, websites, and decentralized applications (DApps), swapping cryptocurrencies would now be more efficient and straightforward. This is undoubtedly an upgrade more advanced than its peers.
Notably, Kyber Network, which is Ethereum-based, is reliant on KNC for paying fees. It is their trading token, which recently recorded more than $400 million in transaction volume. Now, the upgrades are expected to boost their profile and raise their scores even further.
Kyber had recently expressed its aim to drive wider uses for ERC-20 tokens to result in seamless use for payments, collateral for lending, as well as investing in funds. Incidentally, ERC-20 is an Ethereum standard whose general use is to build crypto tokens.
About HTC Exodus
Exodus 1 is a smartphone launched by HTC that implemented the blockchain technology in a bid to power the decentralized web. It also offers solutions to secure the user’s keys and transactions in the Trusted Execution Environment on mobile devices.
The smartphone has the in-built Zion Vault app. The app is a private blockchain wallet that lets its users transact, view, and manage cryptocurrencies like Bitcoin, Ether, Litecoin, selected ERC20 tokens as well as ERC-721 collectibles.
Users are also enabled to maintain the ownership of their keys and access DApps using the Opera crypto browser.