xDollar x Kyber Network Collaboration
xDollar has chosen the highly capital efficient KyberDMM DEX for better token liquidity on Polygon, with $75,000 in $XDO and $KNC liquidity mining rewards.
Over the past three months, Polygon users have gotten to experience another DEX and liquidity source — the KyberDMM, which has brought both capital efficiency and optimized returns to Polygon liquidity providers and token traders. Polygon users also enjoyed the two-month long ‘Rainmaker’ liquidity mining campaign on KyberDMM, with $5.5M in rewards which incentivized strategic pools in the Polygon ecosystem and resulted in the KyberDMM reaching record highs as one of the fastest growing projects on Polygon shortly after its launch.
As part of this strategic initiative, the Kyber Network community has been voting on promising projects on Polygon to increase both the number and liquidity of key token-pair pools on KyberDMM as well as incentivize them with attractive liquidity mining campaigns. These joint initiatives with key projects on Polygon are starting with the launch of a liquidity mining campaign with xDollar, via its xUSD-USDC pool.
KyberDMM DEX allows xUSD LP’s to maximize the use of capital via:
- Amplified Liquidity Pools with extremely high capital efficiency; less tokens required to achieve better liquidity and rates compared to AMMs.
- Dynamic Fees that optimize returns for LPs.
- Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.
About xDollar
An interest free lending platform built first on Polygon network for minting decentralized stablecoin against popular token assets, where you can borrow xUSD against other crypto tokens at 0% interest. Cross-chain. DAO Governance. Multi-collateral vault system.
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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