The decentralized liquidity underwriter KUU joins forces with BENQI to upgrade DeFi to Avalanche

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KUU announced a partnership with BENQI.

KUU and BENQI join forces

The BENQI Avalanche-Based Lending and Borrowing Protocol and KUU, a decentralized liquidity underwriter for the Avalanche DeFi ecosystem, have announced a partnership to support BENQI’s chain liquidations. In addition, KUU will put its underutilized assets into BENQI to achieve yield and maximize profitability.

KUU strengthens liquidity by offering flash loans using pooled liquidity on the protocol. Her name is derived from “Kuutar”, which is the moon goddess in Finnish mythology.

The decentralized liquidity underwriter enables chain holders to effectively capture chain profits and arbitrage opportunities through liquidations of the loan and debt markets.

In the event of a market-wide flash crash, BENQI would need a large amount of capital to liquidate the unsecured loans. Instant access to KUU’s liquidity pools via flash loans will ensure continued liquidations, thus enhancing the safety and efficiency of the BENQI protocol market.

“We are very happy with our partnership with BENQI and believe that together we can help accelerate DeFi activity on Avalanche. There will be a flash loan fee to access the KUU liquidity pool, the majority of which will be directed to the KUU liquidity providers and treasury. Additionally, through KUU’s own internal bot, contributors to KUU’s cash pool can participate in on-chain activities without managing their own infrastructure, lowering the barrier to entry. said Tommy Ngo, co-founder of KUU.

KUU is a decentralized protocol designed to provide enhanced liquidity to chain holders to maximize chain profits through liquidations, DEX arbitrage, and other on-chain opportunities. As a community pool, KUU enables users to pool capital in smart contracts to collectively take advantage of on-chain arbitrage and liquidation opportunities. The capital invested in these pools is used to extract the on-chain profit opportunities presented by any DeFi protocol on Avalanche.

Built on the highly scalable Avalanche network, BENQI is an algorithmic lending and borrowing protocol. Thanks to BENQI, Avalanche users will be able to earn interest on their assets, obtain credit through over-collateralized loans, and earn QI governance tokens as a reward for providing liquidity on Protocol and Pangolin.

For more information contact Dan Mgbor ([email protected]).

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