Hassan Maishera
The Kyber Network team announced via X (formerly Twitter) on Monday that its community members have voted to onboard its KNC token on Aave v3. Aave v3 has several advantages, including allowing users to have an increased borrowing power of up to 97% as the assets are linked. Aave V3 offers greater capital efficiencies, increased security, and cross-chain functionality, while facilitating increased decentralization
Kyber Network is an on-chain liquidity protocol that aggregates liquidity reserves to allow instant and secure token exchange in multiple decentralized applications (dApps). KNC, the native token of the Kyber Network, is up by 2% in the last 24 hours and currently trades at $0.661.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $64.30 per token, down by 1% in the last 24 hours.
