right hello everyone my name is Lila and
I'm a CEO and co-founder of Kaiba
Network yes today I'm so excited to be
here to you know give you an update
about what Kaiba has been doing
especially in connecting decentralized
liquidity for decentralized finance
before we go to the details let us oops
let's just define you know what is
liquidity right I think a lot of us have
heard about liquidity but not many of us
understand what exactly that term means
so liquidity really like represent the
degree in which an asset can be sold
quickly in the market without impacting
impacting the price right like for fiat
currency like USD and Shep and agian
they are super liquid for a set like
Bitcoin and either they are so very very
liquid right but for many of the g20
tokens they are not as liquid and when
it comes to liquidity there are there
are two main parties right the liquidity
takers or people who buy and sell the
asset and they're also the liquidity
providers or people who actually you
know make the offer further to buy and
sell right and they work closely
together every time so the main
incentive for the market maker is that
you know they're going to get the profit
from the trading but they also have the
reach of you know holding the inventory
and you know sometimes the market move
against the direction right but what is
decentralized liquidy there's literally
no definition of this term on the
internet so this is really a first
attempt right decentralized liquidity in
our definition is the liquidy that is
available in the decentralized ecosystem
and there are two important properties
decentralized liquidity first of all
there has to be a choice less
relationship between the ticker and the
providers so that means when they do the
trip there's no need for trust right
there's no middleman
that you know in sitting in the middle
to settle the trip and all the
parameters including rates the mouth and
all this thing have to be transparent
and verifiable so that you know people
can detect everything and can verify
everything before they enter the trade
and most importantly it has to be
utilizable by the centralized
application or smart contract on public
blockchains so this is the current state
of all the decentralized liquid
liquidity in aetherium ecosystem so we
have like several players like uni swap
Khyber Reserve oasis from maker banco
and dash h from gnosis as well but the
main problem is that all of them are
working in silo right so if you know a
def want to take liquidity from from all
these players they you know they happen
to have such different integrations and
sometimes they you know it's going to
take a lot of time right and sometimes
they is it's even really hard to find
enough liquidity because these don't
have enough term and and gas right to
talk to everyone so this is where copper
comes in right we are building a
decentralized liquidity protocol that
basically connect all the on chain
liquidity sources you know beer units
were Khyber Reserve Bank Oasis and the
main goal is to create one single create
a pool for all the decentralized
application and and wallets and website
to you know to take the best rate
available in the market so basically
they just talk to Khyber and Khyber will
justify the best rate available for them
and return it you know to to the DAP so
this is one example of how a unchained
index fund can use Khyber for example
here that users they want to send the
ETA and they want to convert this ETA
into a into an index of you know that
has 30 percent by 30 percent of public
BTC and say 40 percent
link right the dissenter it hurt in
origination to the index fund and the
index fund with us for what the
interruption and the fund to the khyber
contract and with this but we defined
the best rate according to H of the
asset for the users and in one single
generation we can return everything
through the n users that will reduce all
the friction because you know in a in a
non khyber generation they may have like
to do like three different generation in
order to finish the trade so what are
the good properties that we enable right
first of all is you know this I will
just combine all the available liquidity
sources and make it single in one single
make it available in one single
interface for any application any gap to
integrate so that that was just like
make it easy for for all term and
secondly we have a flexible liquidity
models so that we can work with you know
all of the liquidity sources that's why
khyber is the only one that could talk
to a voices that could talk to uni swap
that could talk to gnosis and we could
even work with professional market
makers that market marking on chin so
yeah so this really like allow other
liquidity providers to use different
strategy when it comes to market making
on chain on the other hand if you you
know on UNIX web there's only automatic
market making model and if you subscribe
to some some liquidity pool you have to
follow that model right and it's the
same for for always this latest for
example and third but also like the most
important property is that Kaiba runs
everything on chain that will make it
you know super transparent and
verifiable that means there's no trusted
third party and this is the main reason
why we design khyber
to be fully Unchained in the first place
but later on when we started working
with
you know a few project we realize that
running fully on chain make it very easy
to you know connect with others as well
that means there's a great composability
with many other on chain applications
and moving forward I think this is one
of our key concern when it Orion switch
to eat pie to pie oh when you know there
are different shop and you know running
on chain doesn't mean that you can
doesn't mean that you could talk to a
different smart contract easily this is
the stops in the last few months
okay so we have more the more than 5,000
monthly unique addresses that have been
using khyber the number of liquidity
providers that have been working
actively on khyber is around 30 so value
locking this is the metric that a lot of
people are talking on Twitter but I
don't think is that important because
for kaiba the value locking is actually
much less than others but we are
processing in terms of the trade volume
much more than others at the moment and
in the last six months we are processing
more than you know it and rip thousand
eater that is corresponding to around
150 million USD the number of tokens
that we were supporting is around 70 and
we are adding more every month so in
terms of application integrated I want
to show this figure right so we have
more than 65 different applications
wallets that have been integrating with
khyber to utilize the liquidity pool
that we have and many of them are here
today like Toto and BC rights and and
and we can also see a lot of other defi
players like set protocol and new oh and
instead up in terms of wallets I think
we are connected to most of the major
bullets in the space already including
you know my toe wallet I'm talkin
penguins here and em gene and code base
bullet
and it's you know totally open and
permissionless to integrate with khyber
you just go to you know developer
keyboard our network to see their api
and you can just like integrate with
khyber I guess in a couple of hours I
just want to share a cup of like you
know spotlight integration there have
been using Khyber so that you can
understand you know what they use Kaiba
for right
the first one is the in-house n users
decentralized chains we call it Kaiba
swap and the main the main advantage
subscriber swap is a you know it it it
optimized for the you know user
friendliness right we have many features
that make it super easy for the end
users to start you know doing
decentralized shredding some of them are
like you know non-custodial limit orders
that allow them to create limit orders
even you know even when there's no
custodial involve right they also like
price alert and we also help like iOS
and Android mobile apps so that the
users they can just do it on the phone
and this is the growth of khyber up
Cabaye swap in terms of shape volume
this is just like part of the khyber
volume because we have many other
partners that introduced volume to Kaiba
as well but we could see that you know
from February to June to July when the
market was you know go was booming we
saw a lot of you know generation and
volume from car swap but in the last
couple of months when is when is crudo
we see a doubt trend but in the last six
months we uncover swap we have around
like ten thousand new users and a lot of
them coming from other users marketing
that caboose were targeted at conference
at events and one of the activities that
cap that cover swap team did is that
this is you know distributor the end
user gift card with pre-loaded eater so
that the users they can just start using
the
turian blockchain without you know the
concern of like acquiring eater or you
know what we understanding was gas and
things like that
another one is set protocol and
basically what they do is they allow
people to manage the asset in a
different strategy and one simple
strategies that they can just buy in
some index right like you know there's a
setup basket of a set and the users can
do send either and services help them
buy a basket of asset including you know
it could be like you know eat die or
wEDC and you name it right and set use
khyber in background when the users and
you do that conversion and everything is
fully on chin the users can also see all
the generation on either scan or any
Explorer right another one that is super
interesting is Newell they allow people
to you know borrow and lend crypto
transversely so they basically you know
if you have eater and you want to borrow
die right uses collateralized your eat
and when the price of it you know goes
down which is unfortunate Newell was
just liquidate and users position on
Khyber and everything is done we are the
smart contract and the users can also
verify the the activities so in case
there's dispute they can verify it they
can check it and it can be it can be
used as a proof right so that is on the
technical side let's see how how we are
doing on the reserve side or on the
liquidity provider side right so here
here's the list of like top ten
liquidity providers on khyber so so
Kaiba we have our own reserve as well
but at the same time we also like work
with many other reserve including Oasis
unit swap there are a few professional
market makers like there guys in the
third position
they they don't want to share their
identity yeah and and we have like
different models for people to
contribute their liquidity including
like you know fat price Reserve this is
mainly used by the professional market
maker we also have something similar to
Jimmy swab that we call automated price
Reserve and of course there's the bridge
to uni swap and our C's as well and the
torture that tokens are you know stable
coins of course you know died us DC and
eater and W BTC and USD T as well
there are few other liquid esc 20 tokens
like micro ohms ago and and km c and
link and bad as well so one of the
initiative that Khyber has been actively
working on is you know coaching right
like I'll go is like to bring more and
more asset from different blockchain
like bit coy and and gos and other
blockchain to eat or iam so that the
users on interim can trade them can use
them in at restless and freely manner so
the first initiative that we launched
together with many other partners I
think six or seven months ago was W BTC
and the idea was very simple right with
this you know allow people to create a
representative a bit coy auditorium
which is in a form of ESC 20 tokens and
the main question is you know who will
Kasturi the bitcoin for the users for
simplicity which is not ideal but you
know it's very simple and very easy to
understand we just use bit go as a
custody so the users deposit bitcoin
they will get you know the corresponding
amount of ESC 20 W BTC auditorium and if
they want to redeem it they just burn
the token and they will get back to
Bitcoin Bitcoin blockchain
this is very widely supported
initiative by order project in the
ecosystem and you know feel free to
integrate WTC in your project in your
defi project now it's just like you know
adding any other ESC 20 token another
one that we started not too long ago was
the bridge between Yas and ytterbium
basically this is just no having and
this is gonna be a transverse bridge and
the idea here is that like we could we
essentially let build a like client or
of Yas auditorium and the like client of
idiom on yours and we just allow people
to you know verify the generation of one
blockchain on another in a trust west
manner the detailed this you can you can
do search a Waterloo Bridge you know
Stewie theorem and you will find the
blog post that our developer release a
couple of months ago and you'll find all
the technical details yeah so final
thought I hope that I have convinced you
that decentralized equity is important
for defy and and you know they are still
scatter and we are doing your best in
connecting other liquidy sources on
ethereum there's still a lot to do
especially in the cross chain space we
need to have a better mechanism to you
know to bring W BTC on auditorium but
you know WBC and T BTC as well and what
Lou a good start we can improve from
there and yeah we look forward to work
with everyone on this and thank you
is there any Q&A oh okay sure have two
minutes yeah thank you so much for a
talk I have two questions how specific
do you our first one is a barrier index
fun I thought like rink chain-link
talking is 40% consists of the next one
I was wondering why it was chosen I
think like dye and WTC kinda makes sense
but there is the link talking was not
and then the other question is I often
hear from the defy community that
Khyber's exchange rate is it's a little
bit expensive their exchange rate is not
you know really good compared to tech
central exchange it's probably due to
you know on chain transaction of
everything however are you guys going to
solve this issue in the future or what
are you walking home thank you
so I think for the first question it was
just like you know out of nowhere it's
just like for example it's just for
example okay right and for the second
one I think in the last in the last few
months we have been working with a lot
of professional market makers to work
with them to improve the rate and the
liquidity on Kaiba I think one of the
one of the challenge is that updating
the price on chain would cost you some
gas right and and a lot of them don't
update the price like instantly because
they just cannot once you send a
generation to update the price you have
to wait for like you know 15 or 20
seconds so they have like to to have
that in the pricing model to - yeah but
I think currently the rate for stable
quois are quite good and they are quite
competitive I think this is as
competitive as central changes I think
one thing that is different in cable
prices that does the final price that
the user will get there's no fees after
that so it's the post fee price right
but the price on central changes for
example they are
like previous price so that's the price
you get and then you know that's the
amount you get before the fees so after
the central changes they deduct the fees
you may get you know less yeah okay
thanks hey thanks we'll talk so Khyber
and Eunice Bob are becoming the de facto
price feeds in an edifice pace one thing
I'm concerned about and would like to
understand what you're doing is things
like flash brushes so if I want to lend
some amount I'm concerned that you know
due to thin order books my you know
position might get liquidated what are
your thoughts on that and what you want
to do to prevent these things thank you
I think for example on I think that's
that's a good question I think for
example on khyber if if you wanted to
trade a very large amount you won't be
able to because we just revert the
generation but on unit swap because the
model they allowed you to scale to I
think infinitely right so if you wanted
to sell like one thousand eight or they
could also allow you to do that but
there but the price is right bad because
there's no that's not enough liquid
inventory there so on Tiber will just be
serially to revert the generation if
there's not enough liquidity and and I
think the only way to address that is to
work with more professional market
makers to bring them on chain and to to
help them you know provide more
liquidity for the defi ecosystem okay if
not if there's no other question I'm
gonna be around so feel free to us
you