Kodiak V3 Crypto Exchange Review: Features, Fees, and Performance

When you hear the name Kodiak V3 is a non‑custodial decentralized exchange built on the Berachain blockchain, the first question is: does it actually deliver the liquidity and trader tools that today’s crypto market demands? This review breaks down the platform’s architecture, trading options, fees, and real‑world performance so you can decide whether to add it to your DEX toolkit.

What Makes Kodiak V3 Different?

Kodiak V3 isn’t just another copy of Uniswap. It positions itself as the first vertically integrated liquidity hub on Berachain, meaning the exchange, its AMM engine, and the surrounding ecosystem share the same chain‑level incentives. The most visible differentiator is its dual AMM strategy: a concentrated liquidity model alongside a full‑range AMM. Concentrated liquidity lets providers allocate capital inside a specific price band, dramatically reducing slippage for active traders. Full‑range AMMs, on the other hand, spread liquidity across the entire price curve, which is useful for low‑volatility assets or long‑term holders.

Key Technical Specs

• Network: Berachain (EVM‑compatible)
• Smart‑contract audit: Third‑party audit completed (details publicly available on the Kodiak GitHub)
• Supported assets: 41 tokens, 71 trading pairs (as of Oct 2025)
• Total Value Locked (TVL): > $10 million
• Swap count: > 13,000 swaps processed
• 24‑hour volume growth: +1.7 %
• Average bid‑ask spread: 0.65 %

These numbers place Kodiak V3 in the 83rd percentile for volume and the 82nd percentile for order‑book depth among DEXs, meaning it outperforms roughly 80 % of its peers.

Trading Features Overview

Beyond basic spot swaps, Kodiak V3 offers a suite of tools that aim to attract both retail and institutional users:

1. Fiat gateway: Users can buy supported tokens with credit cards, a rare feature for a DEX.
2. Margin & leverage: Up to 5x leverage on selected pairs, with automated liquidation safeguards.
3. Launchpad: Early‑access token sales for projects building on Berachain.
4. OTC desk: Desk‑managed large‑ticket trades with customizable settlement.
5. Mobile & desktop apps: Native apps for iOS, Android, and a responsive web UI.

All of these services run on the same smart‑contract backbone, so you never have to move assets between disparate platforms.

Fee Structure Explained

Kodiak V3’s fee model is transparent and aims to reward liquidity providers (LPs) while keeping trader costs low. The base fee is 0.30 % per swap, split as follows:

• 0.20 % goes to LPs (distributed proportionally to their share of the pool).
• 0.05 % is routed to the protocol treasury for development and ecosystem grants.
• 0.05 % covers gas reimbursement for the Berachain network (often negligible thanks to the chain’s low fees).

When you use the concentrated liquidity mode, you can set a custom fee tier ranging from 0.05 % to 0.30 % depending on how narrow your price band is. Narrower bands typically command higher fees, incentivizing LPs to commit tighter capital.

How Concentrated Liquidity Works - A Simple Example

Imagine you want to provide liquidity for a BTC/BERA pair that currently trades at 0.001 BERA per BTC. With a full‑range AMM you’d need to supply BTC and BERA across the entire price spectrum, most of which you’ll never trade. Using concentrated liquidity, you can define a band from 0.0009 to 0.0011 BERA per BTC. Your capital now sits where trades actually happen, boosting your fee earnings by up to 5‑times compared to a full‑range pool.

Performance Compared to Major DEXs

While Kodiak V3 can’t match the sheer TVL of Ethereum‑based giants, its tighter spreads and margin options give it a niche advantage for traders focused on the Berachain ecosystem.

Security and Custody Considerations

Kodiak V3 is a non‑custodial DEX. That means you keep your private keys in a compatible wallet (e.g., MetaMask, Trust Wallet, or a Berachain‑specific client). The trade‑off is that you’re responsible for key management-no recovery email, no “forgot password” flow. The platform does, however, use audited smart contracts and employs a time‑locked admin key that can only be used for emergency upgrades, reducing the risk of a sudden rug‑pull.

User Experience: Desktop vs. Mobile

The web UI mirrors the mobile app layout, offering a clean order‑book view, one‑click swap, and a “Liquidity Wizard” that walks you through setting price ranges. On mobile, the app supports push notifications for order fills and margin calls. Early users have praised the intuitive design but note a learning curve when first configuring concentrated liquidity. The help center includes video tutorials and a community Discord where developers share best‑practice range settings.

Potential Drawbacks

• Berachain ecosystem size: With a smaller user base, you may find fewer deep‑liquidity pairs compared to Ethereum.
• Limited third‑party analysis: Apart from a single review on Simply Staking, there’s a lack of independent rating sites covering Kodiak V3.
• Learning curve for advanced features: Concentrated liquidity and margin trading require a solid grasp of AMM mechanics.
• Regulatory gray area: Fiat on‑ramps via credit cards may attract scrutiny in regions with strict crypto compliance.

Who Should Use Kodiak V3?

If you’re already active in the Berachain community, Kodiak V3 offers the most direct way to trade and provide liquidity without crossing to other chains. Retail traders who want lower slippage on volatile pairs will benefit from the concentrated liquidity pools. Institutional players looking for OTC execution on a niche blockchain will find the dedicated desk useful. Conversely, if you primarily trade mainstream DeFi assets (e.g., ETH, USDC), you’ll likely stick with Uniswap or SushiSwap for deeper liquidity.

Final Verdict

Kodiak V3 delivers a solid DEX experience built around capital efficiency. Its dual AMM model, margin options, and fiat gateway set it apart from many newer exchanges. The platform’s TVL and volume growth are respectable for a young ecosystem, and its fee structure is competitive. The main limitation is ecosystem size-if Berachain expands, Kodiak V3 will likely climb the DEX rankings. For now, it’s a strong choice for anyone invested in Berachain or looking to experiment with concentrated liquidity without paying high Ethereum gas fees.

Is Kodiak V3 safe for my funds?

Yes, because it’s a non‑custodial DEX. Your assets stay in your wallet, and the smart contracts have passed a third‑party audit. However, you must safeguard your private keys just like any other crypto wallet.

What wallets work with Kodiak V3?

Any EVM‑compatible wallet can connect, such as MetaMask, Trust Wallet, and the native Berachain wallet. Mobile users can also use the Kodiak app’s built‑in wallet.

How does concentrated liquidity differ from regular liquidity?

Regular (full‑range) liquidity spreads your capital across every possible price, which often wastes capital on price points where no trades occur. Concentrated liquidity lets you lock funds inside a specific price corridor, meaning you earn fees only where the market actually trades, boosting capital efficiency.

Can I trade on margin on Kodiak V3?

Yes. The platform offers up to 5x leverage on selected pairs. Margin positions are auto‑liquidated if collateral falls below the maintenance threshold, so monitor your positions closely.

What is the “Kodiak Islands” feature?

“Kodiak Islands” is a community‑driven liquidity‑mining program that rewards participants with island‑themed NFTs and extra fee rebates. Details are still evolving, but it’s designed to boost depth on less‑traded pairs.