Rainmaker: Kyber DMM Liquidity Mining is LIVE!
Rainmaker, Kyber DMM’s very first liquidity mining program, has officially begun! Kyber DMM is also being deployed on the Polygon Network for the first time.
Kyber Dynamic Market Maker (DMM) is a next-gen AMM protocol that maximizes the use of capital for liquidity providers with its amplified pools that provide high capital efficiency and dynamic fees that optimize returns. Currently in its beta phase, Kyber DMM has already surpassed $150M+ in volume, $200M+ in TVL, and $20B+ in total amplified liquidity (equivalent TVL when compared to typical AMMs).
With the Rainmaker liquidity mining program, Kyber DMM will help boost liquidity even further, provide important benefits to liquidity providers, as well as bring more DeFi participants and value into the Kyber and Polygon ecosystems.
On 30th June, at approximately 3.30pm GMT+8, the Rainmaker program will start distributing~$25M in rewards over the course of 3 months to eligible liquidity providers (LPs) on Kyber DMM.
Check Rainmaker Important Details: here
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 to provide the best rates to takers such as Dapps, aggregators, DeFi platforms, and retail users.
Anyone can contribute liquidity to Kyber Network and Dapps can integrate different protocols depending on their liquidity needs. Using Kyber, developers can build innovative applications, including instant token swap services, ERC20 payment flows, and financial DApps — helping to build a world where any token is usable anywhere.
Kyber is powering more than 100 integrated projects and has facilitated over US$5 billion worth of transactions since its inception.
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK; a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 400+ Dapps, ~200M txns and ~1.3M+ unique users. To learn more about Polygon, please visit https://polygon.technology/
SOURCE: https://blog.kyber.network/rainmaker-kyber-dmm-liquidity-mining-is-live-e64e977baffc
