With the Kyber DMM liquidity protocol now accessible on Coin98 Wallet, users can easily deposit tokens of their choice to earn fees on Kyber DMM, a novel liquidity protocol of Kyber Network’s new Kyber 3.0 architecture as a hub of purpose-driven liquidity protocols.
Kyber DMM claims some major advantages compared to typical AMMs, including an amplified pool feature for higher capital efficiency; as well as a dynamic fee feature to reduce the impact of impermanent loss and maximize returns for liquidity providers.
“This collaboration opens numerous opportunities for Coin98 Wallet users to explore more of Kyber & generate profit from providing liquidity. On a larger scale, we will be working closely together to accelerate the growth of DeFi on new blockchains, bringing it to more countries around the world.”
– Vinh The Nguyen, Co-Founder & CEO of Coin98 Finance
Coin98 + Kyber DMM
Recently, Coin98 Wallet released its latest Coin98 Wallet version X for both iOS and Android, with better UI and new features. It includes several fresh and upgraded integrations, including with Polygon Network.
At the same time, Kyber DMM — previously only on Ethereum — has also launched on the Polygon Network to give Kyber DMM liquidity providers access to the many major benefits of this scaling solution, including sharply reduced gas fees.
Kyber DMM can be accessed in-app via Coin98 Wallet’s DApp Browser or by connecting the Coin98 Extension Wallet directly on Kyber DMM’s website.
“Kyber Network is proud to partner with fast-paced and innovative DeFi projects such as Coin98 Wallet to bring the best possible products to the most users in a secure and sustainable way. Furthermore, the timely expansion of both the Kyber DMM and Coin98 Wallet to Polygon is a catalyst to even wider adoption.”
– Loi Luu, Co-Founder & CEO of Kyber Network