Fringe Finance is partnering up with Kyber Network!
We have previously announced our integration of Kyber Network’s $KNC into Fringe’s PLP. Thanks to it, holders are now able to use $KNC to get overcollateralized $USDC loans without the need to sell their assets — a great utility for KNC.
This time around, we are honored to announce our new partnership. $FRIN will be whitelisted into the KyberSwap DEX aggregator platform. Thanks to this, $FRIN holders will be able to fully use KyberSwap to trade $FRIN!
Both teams will also explore ways of utilizing KyberSwap as a way to provide liquidity in more efficient ways, including the following possibilities:
- Integrating KyberSwap to swap any token into the required collateral asset that you wish to deposit to Fringe’s PLP
- $FRIN liquidity on KyberSwap’s concentrated liquidity pools
- KyberDAO to consider $KNC-collateralized loans on Fringe’s PLP to get USDC to fund operations
Fringe will also be studying further possibilities of using B.Protocol (created by Kyber co-founder Yaron Velner) as a means for liquidation optimization.
B. Protocol gathers users’ funds into a Backstop pool, which is then used for liquidations taking place on the integrated platforms. The Backstop funds are held in a yield-bearing platform between liquidations and produce passive revenue for the users. When a liquidation occurs, the smart contract immediately lists the confiscated collateral for sale and pulls the necessary amounts from the backstop to facilitate the liquidation. After being sold, the return is added to the backstop pool, and earnings are accumulated.
Stay tuned because both teams will also be featured on each other’s community calls!
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, their flagship Decentralized Exchange (DEX) aggregator and liquidity platform, provides the best rates for traders in DeFi and maximizes returns for liquidity providers.
KyberSwap powers 100+ integrated projects and has facilitated over US$10 billion worth of transactions for thousands of users since its inception. Currently deployed across 12 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.