Kyber Ecosystem Report March ‘21

This article was first published on Kyber Network - Medium

Hello fellow Kyberians,

With so much going on this month where do we even begin! We’ve now launched the Kyber Dynamic Market Maker on mainnet, the KyberDAO has approved the KNC migration and is in the process of voting on the upgrade of the KyberDAO itself, we’ve released our Layer 2 rollup research, and a certain KyberSwap team announced the upcoming launch of a fully featured brand new wallet called Krystal! Lets jump right in..

Kyber Dynamic Market Maker Launch

And here it is, the most efficient and dynamic market maker in DeFi. Using programmable price curves and dynamic fees, DMM users benefit from lower slippage (and therefore better prices) and DMM market makers benefit from reduced impermanent loss (and increased LP profit) amongst many other improvements. You can read our deep dive here or watch the video below, but in the meantime, we recommend you try it out for yourselves and experience how easy and efficient it is to trade and provide liquidity on the DMM.

Feedback to the DMM launch has been great and within days of launch, more than $20M is already locked up and providing liquidity and we expect this number to grow as existing AMMs migrate and community LP providers join the pools or create their own unique pools. Creating your own pool is extremely easy and can be accessed here.

KIP-6 KNC Migration Proposal Approved

In other important news for Kyber, an overwhelming majority of the Kyber community decided to accept the team’s proposals to migrate KNC to a new token contract and we believe the whole Kyber ecosystem greatly benefits from this migration. As you will remember, this new KNC contract gives the KyberDAO more tools and mechanisms to mint/burn/upgrade the KNC token in order to bootstrap liquidity, support growth, and lead the way ...

To keep reading, please go to the original article at:
Kyber Network - Medium

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