Kyber Network Partners With Polygon, Aave and Polygon Rewards Extended, Iron Finance $TITAN Disaster

Decentralise Daily #149

📰 Decentralise Daily #149

Decentralise is the daily DeFi newsletter breaking down the latest news and developments.

DeFi (Decentralised Finance) is a revolutionary movement built on Ethereum providing open financial tools for a global audience.

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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.

🗞️ Previous Newsletter

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