Kyber announced last Friday, April 30, through its Twitter account, its collaboration with Mercurial Finance, to promote innovation and use cases around stable asset liquidity systems and expand the limits of DeFi.
“Mercurial is building the first dynamic DeFi vaults for stable assets, providing the technical tools for users to easily deposit and mint stable assets, generating liquidity for their own requirements or offering them to ecosystem participants with such demands”, he said through of an article published on the Medium platform.
According to the company, to optimize performance, assets will be used dynamically to facilitate a wide range of use cases, from low-slip swaps, loans, flash loans, and third-party external decentralized protocols. “Key transactions such as withdraw and exchange in the same transaction are made possible by Solana’s strong performance capabilities”, added Mercurial.
Kyber Network collaboration
The company indicated that it would collaborate with Kyber Network, one of the best-known projects in the Ethereum community, in technical research, development and marketing. Loi Luu, co-founder of Kyber, will also join Mercurial as a co-founding advisor.
“As one of the most established communities with widely used tokens (over 100,000 unique addresses), Kyber will help drive awareness and adoption among Ethereum users and developers”, he added.
About the Mercurial roadmap
The company said they will innovate on several key technical features, including on-chain algorithms to regulate the flow of assets and dynamic rates that leverage market and price data to help LPs optimize performance. “We are developing a single price curve that will be the first to combine high efficiency, multi-token compatibility and generalizability for all types of token pools”, he said.
In addition, he highlighted that, for their roadmap, they will start with a vault for USDC, USDT, wUSDC and wDAI, facilitating low-slip exchanges with dynamic fees. As key ecosystem and technical pieces (such as cross-program composability and pricing oracles) become available in Solana, features will be added accordingly. Similarly, next week “a beta version will be rolled out on the Solana testnet along with a lite document containing key system and technical details”.