KyberDMM stands for Kyber Dynamic Market Maker. It is a DEX protocol known for its ability to expand liquidity with special pools, making it easier for users to make good returns.
Over the last two months, users on Polygon have already benefited from the capital usage optimization and good fee structure of KyberDMM. KyberDMM became one of the fastest-growing DEX protocol platforms on Polygon after its Rainmaker campaigns, where users were able to win almost $5.5 million as rewards from incentivized prize pools.
Since its launch, users of the KyberDMM community have been putting in their votes about different promising and exciting projects on the Polygon network. This interest in collaboration with other Polygon-based projects is now the driving force behind the jFIAT mining program with the Jarvis Network.
KyberDMM will run the liquidity-increasing token mining campaign on the Jarvis Network. It will introduce more fiat currencies to the blockchain economy to make DeFi more accessible to common people.
Snytherum, KyberDMM’s first protocol, allows the creation of synthetic fiat currency without accepting the prices. Users can arbitrage between the primary and the secondary markets. jFIAT is Jarvis Network’s synthetic fiat.
The KyberDMM pools will also be incentivized with different $AUR tokens. AUR tokens are the digital tokens reserved in smart contracts. JRT tokens, UMA tokens, and KNC tokens are available through the KyberDMM pools. 6th October onwards, investors will be able to add in the amount of liquidity they want to their digital tokens on KyberDMM to get access to $440,000 worth of liquidity mining reward points in $AUR tokens.
The KyberDMM DEX can also be used to trade and farm the $AUR digital tokens. This can be a very exciting new opportunity for investors in the Polygon space.