Key Takeaways

  • Decentralized exchange Kyber Network has announced a upgrade to its service called Kyber 3.0.
  • The upgrade will introduce a new DeFi innovation known as a Dynamic Market Maker (DMM).
  • The Kyber 3.0 upgrade will occur in two phases, Katana and Kaizen. This should be complete by late Q3 2021. 

Share this article

Decentralized exchange Kyber Network has announced its Kyber 3.0 upgrade, which will introduce a Dynamic Market Maker (DMM).

Kyber Network and the DMM

In its announcement, Kyber Network calls the upgrade the most significant change to Kyber since its inception.

Kyber 3.0 will introduce a new DeFi innovation known as a Dynamic Market Maker (DMM). The team claims that this will eliminate the problems that popular decentralized trading platforms currently face, such as low capital efficiency and high slippage. 

The team says the new upgrade will transition its existing platform from a single protocol into a hub of liquidity protocols. Thanks to the DMM, “Kyber will become a hub for liquidity innovation and growth,” Kyber Network CEO and co-Founder Loi Luu stated in a release.

Improving Upon AMMs

Kyber Network also describes DMM as an improvement over automated market-makers (AMMs).

Due to the static nature of popular AMMs, most participating liquidity providers have little control over the pricing system offered to traders.

By contrast, Kyber’s DMM is much more capital efficient, as it allows dynamic fine tuning of trading parameters for liquidity pools. For example, liquidity pool operators using a DMM can adjust their pricing curves in advance based on particular token pairs.

The DMM will automatically adjust fees for liquidity providers based on market conditions. This will prevent impermanent loss that can occur on AMMs like Uniswap during price volatility.

The new update will also make Kyber permissionless to a greater extent. Anyone can contribute to liquidity by depositing tokens into different pools, and any dApp or end-user can source that liquidity.

KNC Token Migration

Kyber Network has also announced a proposal concerning KyberDAO and the migration of the project’s KNC token.

If the proposal succeeds, the token will be moved to a new contract to support Kyber 3.0’s architecture. This will create multiple streams of token utility and add to the token’s governance power. The proposal will be voted on in the future by KNC token holders. 

The Kyber 3.0 upgrade will occur in two phases, Katana and Kaizen, which are expected to be complete by late Q3 2021. 

Share this article

53 COMMENTS

  1. hello my lovely stopforumspam member

    What are the Types of Loans in Ohio depending on the purpose
    Specific purpose payday loans in Ohio. Funds received in debt may be spent only for a specific purpose specified in the loan agreement.
    Non-purpose loan. The debtor may spend the money received at his discretion.
    Most popular specific purpose payday loans in Ohio are:

    House loan. The most common, of course, is a mortgage when the purchased property acts as collateral for a loan. Sometimes a youth loan is issued, with lighter conditions for debtors. Still quite common is a housing loan that does not imply purchased housing in the form of collateral.
    Car loan – payday loans in Ohio to a car or similar vehicle. The key is often the purchased goods, making the terms of the loan better. Also, loan conditions are improved: car insurance, life and health insurance of the borrower, and receiving a salary to the account of the creditor bank.
    Land loan. To purchase a plot for construction or agricultural activities.
    Consumer. For purchases in modern supermarkets, equipment stores, you can take a personal loan right at the point of sale. Often, specialists located there can contact the bank and get a regular or fast payday loans. Borrowed funds automatically pay for the goods, and the consultant explains when and how to re-pay the debt.
    Educational loan. It is issued to students, as well as to applicants who have passed the competition, to pay for tuition at universities, colleges, etc.
    Broker loan. For the circulation of securities, payday loans in Ohio are issued to an exchange broker, se-curities are purchased securities.
    Others. Objectives not related to those listed, but agreed and approved by the creditor.

LEAVE A REPLY

Please enter your comment!
Please enter your name here