Kyber x Avalanche Foundation Collaboration
Kyber Network is bringing KyberDMM to the Avalanche network & is organising US$5.8 million liquidity mining campaign as part of the Avalanche Rush program.
With powerful features such as amplified liquidity and dynamic fees, KyberDMM is an extremely capital efficient and flexible liquidity protocol that enables liquidity providers to maximize the use of their capital.
At a fraction of the TVL compared to typical static AMMs, KyberDMM is able to provide better liquidity and very low slippage for popular token pairs. This would improve the overall trading and liquidity provision experience for Avalanche ecosystem users, Dapps and NFT games.
A portion of KyberDMM trading fees on Avalanche will go to KyberDAO and subsequently to KNC voters, complementing the existing KyberDMM protocol deployments on Ethereum, Polygon and BSC. This is part of Kyber’s strategy to provide greater flexibility and capital efficiency for liquidity providers across different chains and networks.
“Kyber is excited to provide the infrastructure necessary for enhanced liquidity and seamless token swaps on Avalanche — an increasingly popular network for all things DeFi. We look forward to collaborating with the Avalanche community to grow the ecosystem together.” — Loi Luu, CEO and Co-Founder, Kyber Network
About Avalanche
Avalanche is an open, programmable smart contracts platform with high throughput and near-instant transaction finality. Its high performance has led Avalanche to become a popular, rapidly growing venue for DeFi Dapps and NFTs. KyberDMM will play a vital role in providing critical liquidity infrastructure for the thriving DeFi ecosystem on Avalanche.
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 such as KyberDMM to provide the best rates to Dapps, DEX aggregators, DeFi platforms, and retail traders.
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, payment flows, and financial DApps — helping to build a world where any token is usable anywhere.
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