Kyber Network launched a new, highly effective market maker protocol and a DeFi innovation known as the Dynamic Market Maker to give more capital efficiency to liquidity providers as we can see more in our latest cryptocurrency news today.
The liquidity protocol Kyber Network launched and announced the release of the world’s first Dynamic Market Maker and the newest feature is designed for the providers to optimize fees, enable high capital efficiency, and maximize earnings. After the research into the benefits of DMMs over the automated market maker, Loi Luu who is the co-founder of Kyber Network noted that the new liquidity protocol will create a way for others to take advantage of the decentralized finance market sector:
“Kyber DMM protocol allows anyone to be a liquidity provider with the advantages of dynamic fees and very high capital efficiency, and we believe this will empower a whole new generation of liquidity providers, takers, and developers to effectively engage in the world of decentralized finance.”
Kyber’s newest protocol allows the providers to adjust the fees based on the market conditions and reduce the losses that can occur on AMMs like Uniswap in times of high price volatility. This will enable dynamic fine-tuning of trading parameters to improve capital efficiency and to reduce the slippage. The liquidity providers will be able to earn even more protocol fees compared to their contribution size while takers enjoy the reduced slippage. Kyber’s distribution charts show that the insiders are prepared for another bullish market reaction for the recent developments. The number of addresses with 10,000 to 100,000 KNC increased by 1.20% over the past day.
Five new mid-sized whales are holding up to $360,000 worth of KNC that joined the network in a short period of time and pushed the prices up by 13%. The buying pressure helped Kyber regain more area of support and IntotheBlock’s In/Out of the Money Around Price shows that the cryptocurrency is able to move past $3.40. at that point, about 647 addresses were holding over 3.50 million KNC. As long as the demand wall at $3.40 holds, Kyber Network will continue advancing further If there’s no resistance barrier ahead that is based on the IOMAP cohorts.
As recently reported, The kyber token’s price surged eight times in 2020 which compared to Binance coin, marks a 21% increase which customers can use to pay trading fees at a discounted rate. Part of the great performance of Kyber is its fast growth in usage as the daily transactions on the network so far in July are averaging more than double the level in June.
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