Stop Overpaying for Swaps: Express Relay on Kamino Swap

With the launch of Kamino Swap, powered by Express Relay, Pyth Network is setting a new standard for on-chain trading on Solana and the wider DeFi landscape.

With Express Relay powering Limit Orders by Kamino Swap, a frontend for on-chain limit order trading, traders get even more control, with access to the true price for swaps and price execution comparable to centralized exchanges. Think about it like this: CEX-like pricing, deep liquidity, and reliable execution—all with the seamless user experience of DEXs.

Express Relay streamlines access to top searchers for Kamino Swap, enabling best-in-class execution and fast fills based on pure pricing—that is, heavy competition between searchers, without distortion or inefficiencies from MEV or congestion. Express Relay’s searchers include Amber Group, Auros, Caladan, Flowdesk, Selini, Tokka Labs and Wintermute.

By enabling access to the most accurate pricing and streamlined liquidity, Express Relay makes on-chain markets more efficient and competitive with TradFi, empowering protocols like Kamino to deliver CEX-level execution with the transparency and control that only DeFi can offer.

Here’s what makes this partnership a game-changer:

Pure pricing: Users gain access to the pure, distortion-free value of assets, especially for large trades.

Fast and cost-efficient performance: Users can enjoy faster fills and lower transaction costs than traditional DEXs.

The best of CeFi and DeFi: On-chain experiences now rival CeFi standards while preserving the decentralized advantages and UX of DeFi.

Developers on Solana and beyond can leverage Express Relay’s plug-and-play liquidity solution to redefine their applications. With Express Relay, CeFi-level features like limit orders, market orders, TWAP, and block trades are now fully accessible on-chain.

Where DEXs Fail Today

Today, trading on DEXs is riddled with challenges:

Thin liquidity: On-chain markets struggle to handle large trades without significant price impact.

High fees: Trading costs on DEXs often remain higher for high-volume traders than on CEXs.

Slow execution: Public blockchain systems struggle with fast order matching, which is critical for tools like limit orders or TWAPs.

Complex setup: Launching a new DeFi protocol requires costly infrastructure and liquidity agreements, slowing innovation.

Kamino Swap: When Swapping is Better on DEXs than CEXs

Kamino Swap, powered by Express Relay, breaks through these barriers, enabling traders to enjoy features once thought exclusive to centralized exchanges:

Swaps based on the true price: Users always get their asking price as well as a tip or surplus from searchers.

CEX-like performance: Tight spreads, reliable order fills, and competitive prices execution rivalling that of CEXs.

Kamino’s partnership with Express Relay makes launching a high-performance trading platform easier than ever—proving that DeFi can compete head-to-head with CeFi and TradFi while offering unparalleled transparency and the benefits of self-custody.

“Kamino is excited to deliver the fastest, most competitive Limit Order platform on Solana. The goal of Kamino Swap is to give users CEX-like user experience, fully on-chain. By integrating with Pyth Network's Express Relay, limit orders on Kamino Swap will be highly competitive, resulting in extremely fast and accurate price execution, with zero fees, zero MEV, and zero slippage. Via the Express Relay infrastructure, Kamino Swap directs value back to users, enabling a delightful limit order UX at home on Solana.” — Marius Ciubotariu, Co-Founder of Kamino Finance

Express Relay: Made for the Most Ambitious Traders

Express Relay offers a blueprint for launching new decentralized finance protocols, especially sophisticated services similar to those found in the centralized and traditional realms. For a deeper dive into how Express Relay works, check out our blog here.

While Express Relay has proven useful for facilitating liquidations for lending protocols, the newest integration with Kamino Swap on Solana showcases the opportunity for more ambitious services requiring a streamlined liquidity solution: limit orders, market orders, DCA, arbitrage, block trades, and more.

Express Relay also eliminates the need for costly infrastructure, providing a plug-and-play liquidity solution that accelerates innovation. With Express Relay, the Kamino Finance contributors could launch Kamino Swap platform without the usual headaches of building within DeFi:

• Creating custom searcher networks.
• Lengthy negotiations with market makers.
• Reliance on public markets or thin on-chain liquidity.

For traders, Express Relay offers the following:

• Accurate pricing: Real-time access to the pure price of assets.
• Fast execution: Seamless trades with deep liquidity.
• DeFi simplicity: The transparency and control they expect.

With Express Relay, protocols can deliver true pricing, whether for limit orders, liquidations, or large-size order execution on-chain. With a warm congratulations to the Kamino Finance team on their newest launch, the Pyth Network contributors are proud to continue raising the benchmark for what decentralized markets are capable of—and proving that DeFi can meet the demands of even the most ambitious market participants.

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