Decentralized protocol Kyber launches new framework to facilitate on-chain market making
October 24, 2020, 11:58AM EDT
1 min read
Decentralized liquidity protocol Kyber Network has launched a new framework that it says will enable on-chain market making, the company announced Thursday.
According to the announcement, the KyberPRO end-to-end framework is the first of its kind will allow market makers, crypto token teams, and developers to more seamlessly enter the decentralized finance (DeFi) space by enabling "the bridging and development of liquidity systems." Market makers generate trading activity between different parties by using an "order book" to match asset buyers and sellers. Many crypto exchanges like Kraken, Coinbase and Binance have relied on this method.
Essentially, the new framework will make it easier for these so-called professional market makers to run an on-chain operation more efficiently.
The Kyber Network has generated over $1 billion in trading volume to date.