Extensions collab: Kyber Network

Before Devcon, we kicked off a conversation with the awesome Kyber Network team about possible integrations via extensions.

A few ideas discussed at the time:

  • Kyber token swap in Status wallet
  • Allow users to always receive tokens of their choice; auto convert from sender’s token
  • Swap tokens within chat
  • Kyber SDK for Status browser, allowing DApps to plug in to seamless exchange

The Kyber team is keen to play with extensions, and given the benefits of integrating Kyber in our wallet, we think it makes sense to shift focus from our previous proof of concept (NFTs in chat) to a Kyber Swap extension.

A few things we really like about working with Kyber:

  • Users will be able to swap ETH for SNT directly from wallet or chat
  • Kyber swaps are fast, ~30s
  • Everything’s on chain
  • We can participate in fee sharing
  • We can measure usage based on # of transactions to our fee share wallet

We’ve also partnered up with Kyber for parts of the Asia Road Show, so that is the milestone by which we’d like to have a functional Kyber extension to demo.

Next steps:

  • Kyber team to review extensions documentation
  • Status team to discuss design & implementation details next week
  • Andrey & Julien working on extensions fundamentals, e.g. persistence

Here’s a brief exploration of Kyber integrations in other wallets, as well as potential entry points within Status. Kyber is quickly becoming a standard for native swapping integration (see MEW and imToken examples).

Ideally, we’d ship this extension as a native feature for all Status users. We believe it makes most sense to do this within the wallet but will sync with the wallet team about this.