Kyber Network Partners With Polygon, Aave and Polygon Rewards Extended, Iron Finance $TITAN Disaster
Decentralise Daily #149
📰 Decentralise Daily #149
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📊 Market Highlights:
Kyber Network Partners With Polygon
The Kyber DMM (Dynamic Market Maker) will launch on the Polygon sidechain on June 30th.
$30M of rewards have been allocated to boost liquidity on both the Polygon and Ethereum networks as part of the Rainmaker program.
Kyber’s Dynamic Market Maker reacts to market conditions to optimize fees for liquidity providers and reduces impermanent loss.
Higher fees are charged during times of greater price volatility, and decrease during times of low activity to incentivize market activity.
Polygon and Aave Extend Liquidity Rewards
DeFi summer v2 is set to continue in style with an additional $85M of USD rewards for Aave markets on the scalable sidechain Polygon.
Being able to earn yield on both lend and borrow positions, in combination with the many new farming opportunities has seen an explosion of DeFi activity on Polygon.
Iron Finance Catastrophe
Algorithmic stablecoin fork Iron Finance experienced a colossal incident, resulting in the TITAN token losing 100% of its value.
Due to the system’s mechanism TITAN was mass sold to prop up the price of the IRON token, which aimed to maintain a $1 IRON peg.
Iron was initially on Binance Chain but had just opened a high-yield farm on Polygon.