KyberDMM Launches on Binance Smart Chain
Kyber Network announced that KyberDMM, DeFi’s 1st multi-chain dynamic market maker protocol, is now deployed and LIVE on Binance Smart Chain (BSC).
In celebration of BSC’s 1st Year Anniversary, we are also including the BSC network in ‘Rainmaker’ Liquidity Mining Program. ~$4 million in KNCincentives will be up for grabs for liquidity providers, starting September 2nd! To support the KyberDMM launch, Binance has listed the BEP-20 version of KNC and will enable the deposit/withdrawal of KNC to the BSC network.
KyberDMM previously launched its beta on the Ethereum and Polygonnetworks, where total trade volume and total value locked (TVL) have exceeded US$1.1 Billion and US$500 Million respectively. Kyber plans to emulate this success on BSC as part of its strategy to widen adoption across different chains and provide greater flexibility and capital efficiency for liquidity providers in DeFi.
🔸Rainmaker: Important Details
- Starting Block: 10,557,000 (~Thur, September 2nd. 13:52:33 GMT+07)
- Reward Vesting Duration: 400,000 blocks (~14 days)
- Liquidity Mining Duration: 1,672,000 (ends at block 12,229,000 ~Mon, Nov 1st. 13:39:05 GMT+07)
🔸KNC Token Smart Contract Address on BSC:
- 0xfe56d5892bdffc7bf58f2e84be1b2c32d21c308b
About BSC
Binance Smart Chain (BSC) is an Ethereum Virtual Machine (EVM)-compatible sidechain that has grown in popularity as an alternative to Ethereum mainnet due to its speed and lower transaction costs. Tokens on BSC follow the BEP-20 standard and you can transfer assets between Ethereum and BSC using the Binance Bridge. There are already hundreds of projects on the network today, with over $19B in total value locked.
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, aggregators, DeFi platforms, and traders.
Through Kyber, anyone can contribute or access liquidity, and developers can build innovative applications, including token swap services, decentralized payments, and financial Dapps — helping to build a world where any token is usable anywhere.
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