Hailing as a market-leading AMM protocol that lifts the efficiency of liquidity teams, Kyber Dynamic Market Maker (DMM) is all set to take a step further by cementing a strategic partnership with Coin98 Wallet and DeFi platform.
The integration will allow liquidity providers to seamlessly access a plethora of offerings provided by Kyber’s powerful liquidity protocol and tools. With its revolutionary decentralized, non-custodial, and multi-chain crypto interface, Coin98 Wallet can be seen as a perfect choice for collaboration by the Kyber team to aid liquidity providers from across the world.
According to the terms of the pact, the users of the Coin98 Wallet channel will enjoy a wide range of trading facilities and functions. The Kyber DMM protocol will facilitate easy deposition of their favorite tokens with the ultimate goal of earning lucrative fee charges on the DMM. Interestingly, Kyber DMM takes pride in being the first liquidity solution of the Kyber 3.0 module designed to cater to the requirements of high-potential liquidity-providing channels.
With Kyber DMM, liquidity providers can reduce the burden of operational complications and enjoy access to a friendly interface for easy working and convenient earning. The protocol is unique compared to other AMM as it offers multiple benefits to the users, which are quite exceptional. The users can find options for increased capital efficiency like amplified pools and dynamic fees option that helps to reduce the effect of loss and surge returns. The Kyber DMM protocol is easily accessible on Ethereum and Polygon Network with higher scalability and reduced fees. Coin98 Wallet supports top-tier chains including Tron, Binance Smart Chain, Polygon, Cosmos, BTC, ETH, Kava, etc.
The Co-Founder and CEO of Kyber Network, Loi Luu, stated that the teams would work together to enhance the adoption of DeFi projects. The partnership with Coin98 Wallet is a strong step in this direction, and it will help to aid DeFi customers through secured and transparent solutions. A similar response was given by Vinh The Nguyen, CEO of Coin98 Finance, who added that the collaboration would help to bring DeFi to new blockchains from across the globe.
To attract investors to Kyber DMM, the team launched its first liquidity mining facility called Rainmaker on June 30 on its portal. The program provides $25M in KNC and MATIC rewards to Liquidity Providers of elected Kyber DMM pools spread through three months on Ethereum and Polygon networks. Those willing to use the Kyber DMM protocol can do so via Coin98 Wallet’s DApp browser or integration of the Coin98 extension wallet on Kyber’s website. The customers can shuffle between Ethereum and Polygon wallets as per their choice to avail the service.