KyberDMM (Kyber Dynamic Market Maker) works as a decentralized exchange system that improves liquidity through amplified pools, maximizing liquidity provider returns through dynamic fees.
In addition to the Avalanche network’s ‘Rainmaker’ liquidity mining campaign ($5.8M in prizes), the Kyber community and KyberDAO vote on potential Avalanche projects like DeFi Yield Protocol to conduct collaborative liquidity-mining campaigns together. The goal is to enhance the quantity and liquidity of important token pools on KyberDMM and provide attractive yields to liquidity providers.
DeFi Yield Protocol- Rainmaker Liquidity Maker
DeFi partnered with the DeFi Yield Protocol to launch a combined liquidity-mining campaign. DeFi Yield Protocol is an innovative multi-chain system providing solutions for yield farming, NFTs, and allowing users to use its advanced trading tools. The protocol uses an anti-manipulation system to provide stability, equitable access to liquidity, and a safe and straightforward DeFi platform for users.
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The decentralized tool dashboard, which includes complex features like Decentralized Score, DeFi Yield Protocol Locker, Unique Community Trust Vote System, and LaunchPad, allows investors to make educated decisions that maximize returns and minimize risks.
KyberDMM DEX enables $DYP liquidity users to make the most of their investments by the following means:
- Pools of Amplified Liquidity: The highest level of capital efficiency. Less number of tokens needed to obtain higher liquidity and rates as compared to AMMs.
- Dynamic Fees: Respond to market conditions to maximize LP returns.
- Better Security & Reliability: ChainSecurity audited it, and Unslashed Finance insured it for up to $20 million.
Steps to Farm $DYP
- Visit the KyberDMM DEX website.
- Ensure you are connected to the Avalanche network.
- Add liquidity to the qualifying DYP-WAVAX pool. It has a raindrop icon on the Pools page.
- Bet your LP tokens on the DYP-WAVAX farm by going to the Yield page. You will receive rewards of $DYP rewards, which may be harvested and claimed at any time because there’s no vesting period.
About Kyber Network
Kyber Network’s mission is to provide DeFi with a long-term liquidity system. Kyber combines liquidity from multiple protocols and sources to give the best token pricing to takers like Dapps, aggregators, traders, and DeFi platforms.
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Any user can access the liquidity through Kyber. Developers can create new applications like token exchange services, decentralized payments, and finance dApps, all contributing to the future vision, allowing tokens to be used anywhere.
