Kana Labs, a cutting-edge DeFi infrastructure and trading platform, has announced its official rebranding as Xyra Labs. Hence, Kana Labs’ rebranding into Xyra Labs is focused on the provision of CEX-level trading on-chain. As mentioned in the official press release of Xyra Labs, the development highlights a bold decision to revolutionize decentralized trading. Keeping this in view, with the unique features like keyless smart accounts, modifiable UI themes, and gasless transfers, the platform is enhancing the trading experience for new Web3 entrants.
Kana Labs Rebrands as Xyra Labs for Streamlined Web3 Experience
By rebranding to Xyra Labs, the platform is offering CEX-scale on-chain trading to improve the Web3-based trading experience. This evolution denotes Xyra’s commitment to removing technical hurdles and providing streamlined DeFi access to the common masses. At the center of this transformation is Xyra Perps, the flagship product of the platform.
Particularly, Xyra Perps serves as the earliest completely on-chain, central limit order book (CLOB)-based platform for perpetual futures on the Aptos blockchain. The project has rapidly surpassed the $1B mark in total trading volume while attracting more than 30,000 new active wallets. Additionally, it also unveils advanced features such as Hedge Mode, permitting parallel short and long positions. This functionality was formerly a distinction of centralized exchanges, but Xyra Labs is bringing it to Web3 for a better trading experience.
Xyra Perps Unlocks Seamless Cross-Chain Swaps and Rapid On-Ramps
According to Xyra Labs, with its rebranding, it is delivering CEX-level trading services via Xyra Perps. This product also integrates streamlined on-ramp deposits, permitting consumers to start trading rapidly without requiring KYC or complex bank transfers. Ultimately, this initiative also offers high-performance swaps across chains with next-gen intent-based routing, showcasing the platform’s focus on user-first approach and scalability.
Source: https://blockchainreporter.net/xyra-labs-to-offer-cex-level-on-chain-trading-in-web3-sector/