The new BZRX token will be available on Kyber Network starting on July 15th.
Collaboration between bZx and Kyber has been advantageous for both platforms. Earlier this year, bZx’s flagship product Fulcrum saw enormous growth in trading volume, generating large amounts of activity on Kyber Network. Fulcrum was one of the highest volume contributors to Kyber Network!
Fulcrum is a margin lending and trading platform, connecting borrowers and lenders to enable leveraged trading and shorts.
How Kyber Network Supports Fulcrum
Kyber Network is an on-chain liquidity protocol that aggregates liquidity from a wide range of reserves, powering instant and secure token swaps in any decentralized application. In its v1.0, Fulcrum used Kyber exclusively for liquidity as well as pricing information. After February, the protocol was refactored and audited in the interest of maximizing security and safety.
In the Fulcrum v2.0 release, Kyber still plays a prominent role in providing liquidity for margin traders. Kyber is specifically used to close positions because of its ability to swap an indeterminate quantity of tokens into an exact number of tokens of a different denomination. Kyber is also fully on-chain thus integration with Fulcrum was seamless and transactions are always fully transparent and verifiable.
Growing DeFi with BZRX
The decentralized finance ecosystem has become progressively more active and experimental, culminating in the addition of various token economic incentives for activity and governance.
The new BZRX token functions as a vote in the bZxDAO, the first trias politics model of dApp governance. Complex protocols that cannot be governance-minimized require sophisticated systems of checks and balances to ensure the protocol upgrades can proceed safely while also safeguarding critical protocol parameters. In the proposed BZRX Token Model v3, fee sharing is paired with governance to incentivize participation and align incentives.
Kyber is one of the most used and integrated DeFi protocols and the BZRX token will now be available in over 100 DApps powered by Kyber including popular wallets Trust, Enjin, Argent, Eidoo, and the HTC Exodus smartphone, and DeFi platforms such as Fulcrum!
Ready to Trade BZRX?
Head to KyberSwap to acquire your BZRX tokens.