Kyber Says its FPR is Uniquely Designed, Allows Market Makers and Developers to Make Profits On-Chain

On-chain liquidity protocol Kyber Network tweeted on Tuesday that its Federal Price Reserves (FPR) is uniquely designed to allow market makers and advanced developers to generate profits on-chain. In a Medium post on the topic, Kyber stated that FPRs make the market making profitable and feasible for a wide range of tokens.

The network further added that market makers that use FPRs provide about 70-80% of the liquidity to the blockchain trades on Kyber. The advantages of these FPRs included high capital/gas efficiency, instant exposure to a wider set of takers in DeFi, precise control over pricing strategies and risk exposure, and several safety mechanisms.

The network further added

In a subsequent tweet in the Twitter thread, the network claimed that Kyber is the most used and integrated protocol for decentralized finance market makers. An infographic shared in the tweet showed that its FPRs are used by a large number of DeFi applications, traders, and end-users. Some of the big names integrating Kyber Network’s FPRs include Coinbase, Opera, ChainFuel, Coinplan, Torque, InstaDapp, etc.

Further, in the Twitter thread, Kyber also informed that it had joined the Chicago DeFi Alliance, which will help it understand the needs of professional market makers more effectively. The alliance will also allow Kyber to work with other similar projects, and together push the envelope of DeFi space. Apart from Kyber, the Chicago DeFi Alliance includes CMT Digital, Compound, Cumberland, DV Trading, dYdx, IDEX, Jump Capital, Opyn, Set Protocol, Synthetix, TDAmeritrade, Volt Capital, etc.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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