The new initiative aims to become a one-stop-shop for all DeFi activities for both new and experienced users.
Krystal, presented as an all-in-one DeFi app, just launched on 20 April, 2021.
Krystal provides an immersive and frictionless DeFi user experience that will save users time, money, and effort by consolidating the best DeFi services under one roof. It incorporates a range of popular DeFi features, including exchanging tokens with different DEX protocols, earning interest by supplying tokens, hassle-free portfolio management, and a referral program.
For seamless token swaps, Krystal sources liquidity from different liquidity systems such as Uniswap and Kyber Network, and allows its users to change between these systems for the best exchange rate and optimal gas cost.
Supplying tokens to earn interest on Krystal is supported by a native integration with Aave and Compound, the leading lending platforms on Ethereum.
The app also comes with Krystal Points – a unique point system that rewards users for introducing friends, doing specific tasks on the app, and participating in Krystal’s promotion activities. Krystal Points can then be redeemed to Ether and transferred to the user’s Ethereum wallet.
Through Krystal, users will be able to easily source for DeFi opportunities, rebalance their portfolio, and earn rewards all within one intuitive, user-friendly interface.
At launch, Krystal will be available on both Android and iOS, with the web/desktop version being released in the coming weeks. Post-launch, the Krystal team plans to continue increasing its integrations and product offerings, as well as expanding its services to other chains and networks.
Sunny Jain, Krystal CEO and Head of Product, shared that
“As DeFi grows larger by the day, it becomes a much more complicated sphere and people have no choice but to use a huge number of apps to utilize DeFi’s full potential. We are constantly improving Krystal to solve that pain point. This means Krystal will introduce various features in the near future, such as adding more liquidity protocols like SushiSwap and Kyber’s DMM for a better token exchange experience, expanding to other chains like Binance Smart Chain, Polkadot or Solana, adding a dapp browser, support NFTs, and even more.”
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