Kyber Partners with Polygon to Enhance DeFi Liquidity

Decentralized Finance (DeFi) liquidity hub Kyber Network (KNC) is set to become the next DeFi protocol to enter the expanding Polygon (MATIC) ecosystem.

Kyber DMM (Dynamic Market Maker) to deploy partnership with Polygon on June 30 and enhance liquidity for #DeFi.

They also announced the launch of Rainmaker, a program that will distribute $30 million in rewards to liquidity providers on the Kyber DMM across both Polygon and Ethereum.

These rewards be will in the form of KNC and MATIC tokens which can also be staked to provide liquidity on KNC and MATIC pools to compound reward earnings. Rainmaker reward earners that receive KNC can also stake some on the KyberDAO to participate in governance activities thereby earning additional voting rewards.

The Polygon phase of the Rainmaker liquidity mining program will run for two months while that for Ethereum will take place over three months beginning from June 30 for both.

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