Kyber DMM is the world’s 1st Dynamic Market Maker, offering automated market-making with greater flexibility and high capital efficiency.
DEX aggregator 1inch Network took to Twitter to announce that it had integrated a brand new AMM, the Kyber DMM, from the Kyber Network.
The partnership with Kyber DMM will provide the 1inch Network with several advantages, such as
Amplified pools with high capital efficiency
No-third party or central oracle risk or involvement
Lower trade slippage
Kyber DMM is a next-generation AMM that is specifically designed to optimize fees and enable high capital efficiency for liquidity providers. Kyber DMM’s launch marks the beginning of a new era for DeFi, an era where permissionless liquidity contribution is combined with capital efficiency and flexibility.
Moving Towards Kyber 3.0
The news of the integration comes hot on the heels of the Kyber Network taking steps to address high gas consumption and a partially permissioned model. The network is working towards adapting to new DeFi trends, allowing liquidity providers, developers, and KNC holders to avail themselves of a host of benefits.
The Kyber Network is also working on Kyber 3.0, which will transition the network from a single protocol to a hub of purpose-driven liquidity protocols. Kyber Network will implement this change over two separate phases, Katana and Kaizen.
1inch Network Introduces Another Liquidity Mining Program, This Time With DigiByte.
After partnering with Ren, 1inch foundation decided to add another liquidity mining program, this time announcing a partnership with DigiByte, allowing for the bootstrap of renDGB within the Ethereum ecosystem.
Under the partnership with DigiByte, 25k USD in 1iNCH tokens and 25k USD in renDGB tokens will be distributed among liquidity providers over four weeks.
About Kyber Network
The Kyber Network allows the exchange and conversion of digital assets. It allows anyone to utilize its on-chain liquidity protocol for a variety of inter-token use cases. It also allows anyone to receive payments seamlessly from any token through the use of rich payment APIs.
About The 1inch Network
The 1inch Network emerged in the ETHGlobal New York Hackathon in 2019 as an MVP for a DEX aggregation protocol. Since then, it has evolved into a whole ecosystem of decentralized protocols.
The 1inch Network brings together both experienced and new DeFi users through a collection of DeFi instruments, allowing them to maximize the financial opportunity of Web3.