KyberSwap Review: Is This DEX Still Worth Using in 2025?

When you're looking for a KyberSwap, a decentralized exchange built to swap tokens without intermediaries, often used on Ethereum and other EVM chains. Also known as Kyber Network, it was once one of the most talked-about DEXs for its liquidity aggregation tech. But in 2025, things have changed. Trading volume has dropped, the KNC token has lost most of its early momentum, and users are asking: is this still a smart place to trade?

KyberSwap isn’t a scam—it’s still live, still functional, and still runs on smart contracts that have never been hacked. But functionality doesn’t mean it’s the best choice. Compared to Uniswap V3 or SushiSwap, KyberSwap’s liquidity pools are thinner, especially for smaller tokens. If you’re trading ETH, USDC, or WBTC, you’ll find decent rates. But try swapping a new memecoin or niche DeFi token? You’ll likely get slippage, delayed trades, or worse—no price at all. The KNC token, the native governance and fee token of KyberSwap, used for staking and voting on protocol upgrades used to be a hot staking asset, but its yield has fallen below 2% and most of the rewards now go to long-term holders who didn’t sell early.

What about the tech? KyberSwap’s liquidity aggregation, a system that pulls liquidity from multiple sources to give users the best possible price was its big selling point. It still works—just not as well as it used to. Other DEXs now do the same thing, often with deeper pools and lower fees. KyberSwap’s UI hasn’t changed much since 2022. It’s clean, but it feels outdated next to newer interfaces like Trader Joe or PancakeSwap. No dark mode, no advanced order types, and no mobile app worth using.

If you’re new to DeFi, KyberSwap might seem like a safe bet because it’s been around for years. But being old doesn’t mean it’s reliable anymore. Many users who stuck with it in 2023 now regret it. The team hasn’t launched major updates since 2023, and community activity on Discord and Telegram has gone quiet. There’s no roadmap, no marketing push, no airdrops—just a quiet exchange running on autopilot.

So who should still use KyberSwap? Only two kinds of people: those who already have KNC staked and don’t want to move it, and traders who need to swap a token that’s only listed there. Everyone else? You’re better off on a DEX with real volume, active devs, and better rewards. KyberSwap isn’t dead—but it’s not alive either. It’s stuck in between.

Below, you’ll find real user experiences, token performance charts, and comparisons with other DEXs that actually grew in 2025. No fluff. Just what’s working, what’s not, and where to go next.