Economic recession is often supported by an undercurrent of innovation. With development-focused mantras like “buidl” being popularized in the crypto community, under-hyped projects with consistent development momentum are shining brighter in the dark. Enjin’s upcoming collaboration with Kyber Network, Changelly, and Bancor Network, which is due to be launched on the 29th of January, is a perfect example of dramatic forward momentum achieved in a decentralized manner.
Just a few weeks ago, Enjin launched what they described as the world’s fastest blockchain explorer, EnjinX. Now, the team has announced it will natively integrate three leading token conversion platforms into the Enjin Wallet. This development is important, not only because it will enable users to trade over 170 cryptocurrencies without leaving their wallet, but because it stays true to the blockchain’s promise of decentralization by giving users the power of choice. By doing this, Enjin is not just creating a great product, but also strengthening the blockchain ecosystem by fueling collaboration and pushing innovation.
“We are very proud to work with Kyber, Changelly, and Bancor to make this a reality. We all share a very similar vision for what cryptocurrency can mean to the world, yet we’re all working to solve very different problems. It’s extremely exciting to collaborate with active builders in this space. Together, we can breathe new life into this market by creating the tools needed for tangible adoption, which is what will ultimately create a sustainable, stable cryptocurrency market.” — Maxim Blagov, CEO of Enjin
The cryptocurrency community has thrived on its principles of decentralization, building an alternative to markets controlled by institutional powers. But since its inception, there has been a rise of institutional powers within the crypto community — individual voices that can drastically impact the entire market, along with projects maintaining strong economic positions by holding the bulk of their own tokens. As a movement, we must constantly check ourselves and one another to ensure we are building a community-first ecosystem that benefits everyone equally.
Each of the three conversion platforms that will be integrated into the Enjin Wallet are decentralized in unique ways.
Kyber, a decentralized token swap protocol whose core mission is to enable seamless exchanges on any device or platform, allows entrepreneurs and organizations to accept a wide range of cryptocurrencies while receiving their currency of choice. This technology can be implemented natively, so buyers can pay with any Kyber-supported token, while sellers can automatically receive their preferred token — without the buyer even knowing that Kyber was involved. All token swaps are performed on-chain, so users maintain full control over their assets at all times.
“Cryptocurrency wallets like Enjin are an important gateway for people who are new to blockchain and cryptocurrencies, and this is one area Kyber has supported from the start. This successful integration with Enjin is a testament to how Kyber allows decentralized token swaps to be embedded into any wallet and Dapp for a seamless user experience” — Loi Luu, CEO of Kyber Network
Bancor is a decentralized liquidity network that enables on-chain conversions between 8700+ token pairs on Ethereum and EOS. It is the first decentralized service which allows users to directly transfer value across multiple blockchains with no intermediary. Users of Bancor remain in full control of their funds and private keys at all times, and Bancor charges no fees for token conversions, which occur instantly and fully on-chain — from pricing to execution — ensuring maximum transparency and safety.
“Enjin is a pioneer in the blockchain gaming space, and we are thrilled to see the Bancor experience integrated within the Enjin Wallet. Enjin users can now perform instant, on-chain conversions between 8700+ live token pairs on the Bancor Network without ever having to leave the wallet.” — Eyal Hertzog, Bancor Co-founder & Product Architect
Changelly is a widely popular non-custodial cryptocurrency exchange. Acting as an intermediary between exchanges and users, Changelly provides access to over 130 cryptocurrencies. Changelly’s trading algorithms are integrated into large trading platforms such as Binance, Bittrex, Poloniex, and HitBTC. Whenever a user exchanges one cryptocurrency to another, Changelly correlates the amount to exchange and places bid/ask orders on the trading platforms and picks up the best rate possible.
“Blockchain gaming is yet a powerful, moving force of the whole crypto industry. That’s why we at Changelly are genuinely excited to join our forces with Enjin and to provide their game wallet with a seamless crypto-to-crypto exchange option. I truly hope that it is only the beginning of a long-term and mutually fruitful cooperation.” — Ilya Bere, CEO of Changelly