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Polygon and Ethereum pools to be injected with a $30 million liquidity mining program

Polygon

TL;DR Breakdown

  • Kyber Network seems to play a major role in the expansion of Polygon (MATIC).
  • Kyber has declared the initiation of the Rainmaker program.
  • This program is a liquidity mining program that will enter Polygon on 30th June.

Kyber Network is a Decentralized Finance liquidity hub that has declared major news for the MATIC and Ethereum cryptocurrencies. Owing to this event, we can say that the consolidation of these coins in the market will definitely increase and there are chances for a spike in their functionality. Kyber Network (KNC) has already declared its Rainmaker program. This program has a lot of worth standing behind it, i.e., $30 million.

This amount of money into the Rainmaker program means that it is certainly revolutionary. Polygon (MATIC) is expanding and the Kyber Network will be the next network to be in ties with this expanding crypto network. The Rainmaker has been described as a liquidity mining program that will introduce these $30 million as mining rewards. These rewards will be given to liquidity providers on Kyber DMM across Ethereum and MATIC chains.

Polygon is expanding and Kyber will play a major role

Polygon (MATIC) coin as well as the network has shown major progress ever since the launch and it has grown quite effectively in the year 2021. This effectiveness will be increased with the introduction of around 2.52 million KNC (around $5 million) into the MATIC network-based amplified mining pool. These coins will be distributed among the liquidity providers on the network.

Another network that will benefit will be the Ethereum network. The Ethereum-based amplified pools will be introduced with around 12.6 million KNC, i.e., about $25 million. This huge amount of coins will be distributed in a similar pattern to the liquidity providers on the Ethereum chain.

However, this is not all as regards the program. There is also a plan to include another $500,000 into the amplified mining pool of the two networks. These networks are showing signs of pretty strong growth and it is possible for the network to jump rather strong after such changes are introduced. The extra $500,000 will be awarded in the form of MATIC which definitely points to a surge in the functionality of these coins.

Parth Dubey

Parth Dubey

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? I love cryptocurrencies.

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