Kyber Network launches platform to build on-chain markets

The Kyber Network protocol developers have launched a framework designed to simplify the creation of on-chain markets with participation from professional liquidity providers.

1/ We’re excited to announce the launch of KyberPRO, an end-to-end framework for professional market makers to easily onboard to #DeFi and run a profitable on-chain operation with minimal smart contract knowledge required. Learn more: https://t.co/wysXJT85fn pic.twitter.com/JirNgqSD1S

— Kyber Network (@KyberNetwork) October 22, 2020

According to the statement, KyberPRO provides a liquidity system, tools, documentation and technical support to ease entry into DeFi for professional market makers.

In the view of the Kyber Network team, the latest could bring “significant liquidity and value” to the space. To achieve this, a suitable framework is needed, as the order book traditionally used by centralised exchanges is inefficient on-chain, and automated market makers (AMMs) are not suitable, the developers say.

They described KyberPRO as “a comprehensive platform for professionals that enables easy onboarding to the network and to conduct profitable market activity with minimal smart-contract knowledge”.

In June, the Kyber Network developers rolled out the Katalyst upgrade, and KNC token holders gained staking. In the first 24 hours, almost 6% of the circulating supply was locked in the protocol. The figure now stands at more than 26% (StakingRewards).

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