Earn 104% Using Kyber on Polygon by DefiDad

One of the unsung heroes of the DeFi revolution is the on-chain liquidity protocol Kyber Network. Kyber is one of the oldest protocols developed in Ethereum’s history which propelled forward many DeFi applications gaining traction in 2019. 

The Kyber Network offers multiple types of reserves, each of which exists as a smart contract controlled by whoever deployed it. Instead of using orderbooks, when a Kyber trader initiates a trade, Kyber returns the best price across all of its reserves. The Kyber Network can be easily integrated into dApps to enhance user experience so you can more easily swap while using DeFi applications.

The native token of Kyber is called KNC. KNC holders can participate in governance and earn rewards, reserve managers pay fees and receive rebates in KNC, and dApp integrators receive a portion of fees.

Recently, Kyber released it’s newest creation--the Dynamic Market Maker (DMM), “a next-gen AMM protocol that maximizes the use of capital for liquidity providers with amplified pools that provide high capital efficiency and dynamic fees that optimize returns.” In layman’s terms, the DMM is Kyber productizing it’s network of on-chain liquidity into a familiar Uniswap-style swap with new but similar mechanics to what powers Uniswap V3 concentrated LPs. While in its beta phase, Kyber DMM has already surpassed $170M in volume, currently about $118M in TVL, and $30B in total amplified liquidity (equivalent TVL when compared to “typical AMMs”).

To bootstrap its growth, Kyber launched the Rainmaker liquidity mining program, which will reward new LPs in the DMM, as well as bring more DeFi participants and value into the Kyber and Polygon ecosystems.

The Kyber