Liquidity providers (LPs) in the decentralized finance (DeFi) space are set to enjoy better capital efficiency. This is due to the strategic integration of the Kyber DMM protocol by non-custodial wallet Coin98.
Thanks to the integration, Coin98 wallet users will also be able to take part in the Kyber DMM “Rainmaker” liquidity mining event.
More on the Integration
First, the partnership with Coin98 wallet will help interested persons to have access to the Kyber Network liquidity protocol. Also, Coin98, the all-in-one, multi-faceted, non-custodial wallet, will help Kyber DMM reach out to its wide range of users around the globe. Due to the integration, Coin98 wallet users can now seamlessly deposit crypto tokens on the Kyber DMM, while also earning fees in the process.
Kyber DMM is one of Kyber Network’s top liquidity protocols. The DMM platform boasts of several major improvements as compared to most AMM protocols. Some of these improvements include an amplified pool feature, dynamic fees feature, etc.
🚀@coin98_wallet has integrated Kyber DMM protocol to provide high capital efficiency to thousands of #DeFi liquidity providers around the world!
🌧Easily participate in the ongoing Rainmaker liquidity mining program using Coin98!
Learn more: https://t.co/GJRKl8dmjc
— Kyber Network (@KyberNetwork) July 6, 2021
Kyber DMM Rainmaker Event
Kyber DMM, prior to this time, has only been on the Ethereum chain. Now, the liquidity protocol is also on Polygon. Due to this, LPs on Kyber DMM will be able to enjoy cost-efficient gas fees as well as all-around, much-improved scaling solutions.
To commemorate the integration with Polygon, Kyber DMM launched its first-ever liquidity mining event dubbed “Rainmaker.” The event commenced on June 30, 2021, and offers a reward of approximately $25 million in KNC and MATIC tokens. The entire liquidity mining event is scheduled to last for three months.
DeFi | Coin98 | Kyber DMM
The decentralized finance (DeFi) space is one of the fastest-growing ecosystems in the blockchain and crypto space. An increase in the influx of users in the DeFi space has, furthermore, resulted in the need for more DeFi-focused applications. In line with this, Coin98 has launched its version X wallet for both Android and iOS users. This version is equipped with better UI, amongst several other upgrades.
Speaking on the integration, Loi Luu, Kyber Network CEO and co-founder, pointed out that amidst the rapid increase in adoption of the DeFi space, “[…] Kyber Network is proud to partner with fast-paced and innovative DeFi projects such as Coin98 Wallet.” Adding that, together both platforms will work to “[…] bring the best possible products to the most users in a secure and sustainable way.” Luu furthermore added that the integration will also serve as “[…] a catalyst to even wider adoption.”
Vinh Nguyen, CEO of Coin98 Finance, also spoke highly of the integration. He disclosed, “This collaboration opens numerous opportunities for Coin98 Wallet users to explore more of Kyber & generate profit from providing liquidity.”
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