2021-9-1 17:07 |
Kyber Network and FLURRY Finance are collaborating to offer traders more efficient cross-chain yield farming, ample liquidity and low slippage rates via Kyber’s Dynamic Market Maker (DMM) decentralized exchange, Invezz learned from a press release. FLURRY Finance’s stable rhoTokens, which align with KyberDMM’s high liquidity and low transaction costs, will be elevated as a medium of exchange in everyday transactions. This makes KyberDMM an ideal place to sustain FLURRY Finance’s liquidity.
Extremely lucrative reward token liquidation$FLURRY token holders can liquidate reward tokens with extremely low slippage rates through KyberDMM, which endeavors to use its augmented liquidity pools to attain high capital efficiency. In these pools, the capital efficiency slippage of stable pairs can be up to 100x higher than the status quo. Dynamic fees optimize returns. In turn, these fees are influenced by market conditions.
To realize income for traders, FLURRY will liquidate underlying stablecoin tokens on a regular basis. This will also be done to minimize exposure to token price volatility.
Mike Ting, CEO of FLURRY Finance, said:
“We’re very excited about our collaboration with Kyber as it will provide numerous long-term benefits, such as allowing $FLURRY holders to earn fees by supplying stablecoins to KyberDMM liquidity pools with minimal transaction fees. This is a win-win for both platforms and communities. FLURRY generates income for its users while Kyber attracts more liquidity, resulting in lower slippage and costs for everyone.”
Partnership follows recent closing of $3M investment funding roundA month ago, FLURRY Finance closed a $3 million funding round from investors of the caliber of GenBlock Capital, One Block, AU21 Capital, Dutch Crypto Investors, and more. The new partnership also makes it possible for users of FLURRY to mint different rhoTokens (rhoUSDC, rhoUSDT, rhoBUSC). They don’t actually have to hold the stablecoin in question.
Full product launch in Q3 2021FLURRY Finance is planning an IDO on the CardStarter launchpad, which is based on Cardano (ADA/USD). It targets community members who want to hold the $FLURRY token, which will allow them to assign risk factors to active schemes and vote on plans to add or remove new yield farming strategies. FLURRY is planning a full product launch in the third quarter of this year.
The post Kyber and FLURRY enter partnership to offer traders ample liquidity and low slippage rates appeared first on Invezz.
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