April has been a successful month for Krystal with $110M LP volume despite the unfavorable market condition. This achievement serves as a strong motivation for us to persist in our efforts to establish Krystal as a leading Automated Liquidity Manager in the DeFi space. Throughout April, we introduced several new features and implemented significant changes aimed at enhancing our users’ experience. Let’s explore these updates below.
1. New Features
1.1. Support Swap, Zap In, and Zap Out on Base chain
Since the start of 2024, Base has emerged as a prominent Layer 2 chain for liquidity providers, boasting over $1.5 billion in Total Value Locked (TVL) and a daily volume of $400 million. We see this as just the beginning for Base, especially considering its potential to onboard millions of Coinbase users. Our choice to integrate Base has been validated, with Krystal recording $16 million in LP volume on Base in April alone, solidifying Base’s position as one of the top three most popular chains on Krystal.
1.2. Support Zap In and Zap Out on both Krystal Android and iOS apps
During the time of high market volatility, managing LP has become increasingly challenging, particularly since our users aren’t constantly at their computers. To address this, we’ve incorporated Zap In and Zap Out features into our mobile apps, offering our users a more convenient experience.
1.3. Support Add Liquidity, Remove Liquidity and Claim Fees on Krystal for PancakeSwap v2, v3; UniSwap v2, and SushiSwap v2
With these additions, users can now directly add or remove liquidity and claim fees on those protocols without leaving the Krystal UI. This represents a crucial step towards providing a complete liquidity provider journey through Krystal.
2. Deprecated Features
2.1. Stop supporting swap on Solana chain
Given that we currently don’t have a concrete plan to support liquidity providers on Solana, we temporarily halted our Swap function on the Solana chain. This decision allows us to direct our focus towards other chains where we can provide more effective services to our liquidity providers. While Solana remains highly desirable, we will reassess its feasibility and viability before considering its reintroduction.
2.2. Remove Portfolio tab, Transaction History tab, NFT tab, and Notification on Web
As we are refining our web platform to better cater to liquidity providers, we have removed legacy features originally developed for Krystal as a wallet. This adjustment aims to offer users a more streamlined experience focused on liquidity provision while also allowing us to allocate resources more effectively towards developing impactful features for our users.
Instead of Portfolio tab, users can check their wallet holding by clicking on their wallet dropdown on the sidebar.
3. Other Improvements
3.1. Add short-cut buttons for LP transactions
3.1.1. “Add liquidity” button on Explorer Page
3.1.2. “Add Liquidity”, “Remove Liquidity”, “Claim Fees”, and “Adjust Range” buttons on Profile page.
3.2. Update Krystal Docs
All information about Krystal as an ALM can be found in our Krystal Docs page. We’ll continue updating the docs as we develop Krystal further.
We hope these changes will better help you manage your liquidity with Krystal. If you have any inputs or feedback to us, please don’t hesitate to let us know through our social media channels:
X: https://twitter.com/KrystalDeFi
Telegram: https://t.me/KrystalDeFi_Global
