Enjin wallet, has now integrated Kyber Network’s liquidity protocol. As a result, users can now swap ERC-20 tokens directly inside the wallet. On 21st January, TCU reported, Enjin (ENJ) recently announced that their next update to the Enjin (ENJ) Wallet would be launched on App Store and Google Play on January 29.
Enjin Wallet Swap is coming!
On Jan. 29, we will be submitting the next #EnjinWallet update to Google Play + App Store.
— Enjin (@enjin) January 20, 2019
As a matter of fact, the in-wallet conversion will help users trade tokens through three conversion platforms-
- Kyber Network
- Bancor Network
The team said that
“This integration will show how Kyber enables token swapping functionality to be embedded into any wallet or dApp.”
Decentralised token swaps
This new integration will allow users to easily swap between more than 60 different ERC-20 tokens directly from the Enjin Wallet application. Furthermore, this removes the need to first move tokens to third-party exchanges or services to make any trades.
In-wallet token swap is live!
You can now use the #EnjinWallet to seamlessly trade hundreds of tokens, including $ENJ, $BTC, $ETH & $LTC — thanks to the world’s first native multi-swap wallet integration ft. @KyberNetwork, @Changelly_team & @Bancor.https://t.co/zOknaWPgUF pic.twitter.com/4C2a9Z9Gxi
— Enjin (@enjin) January 30, 2019
More importantly, Enjin project has created a blockchain game development platform with a network of 20 million users. Also they are building a framework of “software development kits (SDKs), wallets, game plugins, virtual item management apps, and a blockchain scaling solution. Furthermore it will allow gaming companies to create, integrate, and manage tokenised gaming assets.”
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Role of Kyber Protocol
Furthermore, Kyber’s Trading API will allows developers access to Kyber’s on-chain liquidity protocol. As a matter of fact, Enjin Wallet will access the API to query supported tokens, their conversion rates, and a transaction payload. At this point the platform will use API data to create a token swap transaction request to broadcast and execute on the Ethereum blockchain.
A Dive into Token Conversion Services
Now, let us have a look at the different services
- Bancor is a decentralized liquidity network.
- Similarly, it enables on-chain conversions between 8700+ token pairs on Ethereum and EOS.
- Also, it is the first decentralized service which allows users to directly transfer value across multiple blockchains with no intermediary.
- Kyber network allows decentralized token swaps to be integrated into any application.
- Moreover, it enables value exchange to be performed seamlessly between all parties.
- Changelly’s platform chooses the best rate among the large trading platforms market.
- Also, it acts as an intermediary between exchanges and users.