EPNS Push Notification Partnership With Kyber Network

Published on: 22.09.2021

The Kyber Network liquidity hub is empowering both DEX aggregators and LPs by connecting liquidity from many protocols and sources and optimizing capital utilization and fees through a dynamic market making model. EPNS is pleased to announce the launch of a pilot program to provide decentralized push notifications to support users of Kyber’s deeper and more capital efficient liquidity pools.

“EPNS brings a much needed solution to Ethereum and other networks — a convenient way to access timely information on-chain. The Kyber Network ecosystem is moving and developing fast, so users would definitely appreciate this kind of notification service.”— Loi Luu, CEO and Co-Founder, Kyber Network

The Kyber Network has grown into the largest liquidity pool hub with over 6 billion USD in total volume by aggregating liquidity across hundreds of dApps, crypto wallets and DeFi platforms. In addition to Kyber’s decentralized exchange (DEX) protocol KyberDMM, over 100 applications including wallets and token swaps integrate with the Kyber Network to access liquidity. By providing LPs with the flexibility of market makers, they can more efficiently manage capital utilization and rebalance their token portfolios. With this increased flexibility, LPs have the potential to earn higher yields.

dApps can easily integrate with Kyber to access frictionless liquidity to support diverse functions including token swaps, on-chain liquidation, portfolio rebalancing, and flash loans. Managing these services, however, involves messages from multiple platforms yet no central messaging service exists.

As ‘Kyber-style’ pools are adopted on Ethereum, Polygon, Binance Smart Chain, and other blockchains; the need for push notifs is growing. The lack of a decentralized push notification service, until now, means important notifications may be distributed to multiple places, such as email or a Telegram account. A push notification service would allow all platform users to receive and take timely action on important notifications while still protecting data privacy as Kyber users interact with internal and external data sources.

Under this pilot program, EPNS is building a dedicated channel for the Kyber Network.  Users can subscribe to the Kyber channel to receive customized notifications to their wallets. Through collaboration with the Kyber team, EPNS will gain insight into the push notification needs of users of swap markets with advanced features (e.g., liquidity aggregation, dynamic market making) and what they want from the EPNS protocol.

”The Kyber dynamic market maker model has brought high capital efficiency and lower trading losses to liquidity platforms. EPNS is excited about the opportunity to automate the missing link in the DMM model, messaging. Push notifications will help liquidity providers gain more control over their positions and further maximize returns”—Harsh Rajat, Founder and Project Lead of Ethereum Push Notification Service

Decentralized notifications will provide real-time data to one wallet so all users can act in a timely manner. Market makers can identify the most attractive fees to rebalance portfolios. Takers can source liquidity from KyberDMM protocol with lower slippage. Meanwhile, all users and Dapps can continue to operate within the secure ecosystem of Kyber Network, without having to deal with frictions from different protocols.

ABOUT Kyber Network
Kyber Network aims to deliver a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources (e.g. KyberDMM) to provide the best token rates to takers such as Dapps, DEX aggregators, DeFi platforms, and traders.

About Ethereum Push Notification Service
Ethereum Push Notification Service (EPNS)
is a decentralized notification protocol that enables any smart contracts, dApps or even traditional services to send notifications to wallet addresses, as long as those wallet addresses have opted in to receive them from that particular service.

RESOURCES
Medium

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