We’re excited to announce that Krypton is officially joining the Chainlink BUILD program. As a part of BUILD, we hope to accelerate the growth and long-term adoption of our decentralized exchange with support from the Chainlink ecosystem. In return, Krypton will provide network fees and other benefits to the Chainlink ecosystem.
Our participation in BUILD acts as a solid foundation for our integration with Chainlink, providing us with access to increased support and resources. It’ll also help encourage stronger incentive alignment between the Chainlink and Krypton communities.
We’re confident that the technical and community support of Chainlink BUILD will be key to helping increase awareness of Krypton as we work to realize our vision of rearchitecting the financial system to make it more transparent, more cost-efficient, and fairer.
In the simplest terms, the Krypton DEX aims to provide the best trade execution, meaning the trade you want at a cost that makes sense. Currently, DeFi trading is extremely expensive compared to both traditional finance and centralized crypto exchanges. That’s partly because computational limits in the early days of smart contract blockchains prevented the use of sophisticated order book systems, giving rise to simplistic but less computationally intensive Automated Market Makers (AMMs). These were an incredibly important zero-to-one innovation for DeFi trading, but their lower computational footprint came at the cost of economic efficiency– evidenced by the front-running and adverse selection that users have come to know as slippage and impermanent loss. Both are typically realized in the form of MEV.
We strongly believe that given the existence of Chainlink’s oracle networks, which enable orders of magnitudes of scale for computational workloads, minimizing for a low computational footprint at the expense of economic efficiency is no longer the right tradeoff in the design of DeFi mechanisms. Peer-to-pool protocol designs favored in DeFi’s infancy and AMMs in particular were built for a world that no longer exists. The existence of Chainlink off-chain compute technology vastly enhances the design space for DeFi and Krypton intends to take full advantage of this new world to build the next generation financial ecosystem.
By leveraging the power of Chainlink’s decentralized oracle network, we have been able to design a next-generation exchange that reimagines the traditional order book concept in a new way. Krypton is a peer-to-peer DeFi exchange that solves the various cost inefficiencies we see not only in DeFi but in traditional finance as well. True peer-to-peer trading with Krypton is the next step in the evolution of DeFi, and it is uniquely enabled by Chainlink.
In fact, Krypton is the first DeFi protocol that is more efficient even than TradFi. Using a unique peer-to-peer matching engine that executes orders as continuous flows (rather than in single chunks), we solve for the issues of MEV and adverse selection in a fully decentralized context. The goal, again, is to offer traders the best execution available in DeFi.
Krypton joined BUILD to deepen our ties and realize the mutually beneficial relationship that we can build with Chainlink. As part of BUILD, we will receive enhanced technical support while we build the Krypton DEX. Chainlink offers enormous value to Krypton and other BUILD program participants, including security, reliability, and of course an incredibly large and active community.
As part of our commitment to Chainlink and the BUILD program, Krypton is providing economic incentives to service providers in the Chainlink ecosystem. That includes our plan to allot 5% of the Krypton token supply to Chainlink service providers, including stakers. These economic incentives are an important part of our commitment to the Chainlink ecosystem and to integrating our communities.
“We’re pleased to have Krypton join the Chainlink BUILD program, enabling the team to receive enhanced support while building its novel DeFi exchange protocol. By participating in BUILD, Krypton can accelerate the development and adoption of its DEX while aligning its incentives with the Chainlink ecosystem.” — Johann Eid, VP of Go-To-Market, Chainlink Labs.
Chainlink is the industry-standard Web3 services platform and has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert. To join the Chainlink BUILD program, reach out here.
Krypton is dedicated to the idea that functional markets are fair markets, where you can get the trade you want at a cost that makes sense. Our academic roots are the foundation of our novel approach to solving the challenges of building a decentralized financial system, and we’re proud to offer a truly novel approach to exchange architecture with the Krypton DEX.