Borrow against your KNC collateral on Fringe Finance or trade FRIN at the best rates on KyberSwap!
KyberSwap regularly seeks to work with DeFi’s best projects to further increase utility for the KNC (Kyber Network Crystal) token. With our partnership with Fringe Finance, KNC holders can now use their tokens to obtain overcollateralized USDC loans, without the need to sell their tokens! Anyone can also purchase FRIN at the best rates on KyberSwap.
Fringe Finance: Creating a safe place for you to invest and borrow against your KNC holdings
Fringe is a lending/borrowing ecosystem that allows you to deploy your capital and earn interest as a lender or borrow (take a stablecoin loan) against your altcoins such as KNC, which is already whitelisted as a collateral asset.
KNC is a utility and governance token and an integral part of KyberSwap. KNC holders can stake their KNC and vote on initiatives to receive trading fees generated on KyberSwap, along with other benefits. By supporting KNC as a collateral asset on their platform, Fringe Finance allows you to keep your KNC and still be able to spend its value via the USDC stablecoin.
Fringe will soon launch a decentralized stablecoin backed by altcoin loans, USB. Users will be able to deposit altcoin collateral to mint USB. The USB stablecoin is pegged to the US Dollar so you’re always kept in check. You can even stake your FRIN tokens in the Staking Pool and earn rewards from the fees collected by the Fringe ecosystem.
Fringe is fully audited by HashEx (audit report). Read more about Fringe on their docs here or their medium blog.
KyberSwap: Get the best rates for FRIN
KyberSwap is a DEX aggregator and liquidity platform, pulling liquidity from multiple sources including our own pools to give the best token rates! The FRIN token is going to be whitelisted into our platform UI, making it even easier to trade at the best rates!
With our partnership with Fringe Finance, we are also explore ways of utilizing KyberSwap as a way to provide liquidity in more efficient ways, including the following possibilities:
- Integrating KyberSwap to swap any token into the required collateral asset that you wish to deposit to Fringe’s PLP
- FRIN liquidity on KyberSwap’s concentrated liquidity pools
- KyberDAO to consider KNC-collateralized loans on Fringe’s PLP to get USDC to fund operations
- Fringe will study further possibilities of using B.Protocol (created by Kyber co-founder Yaron Velner) as a means for liquidation optimization.
Both our teams will soon be collaborating on some educational activities and community calls! Stay tuned!
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
