KEY TAKEAWAYS
- Kima Network partners with Steer Protocol to enhance liquidity and efficiency in the Kima token market on decentralized exchanges.
- Steer Protocol’s advanced off-chain compute protocol will manage liquidity for Kima, utilizing data-driven algorithmic strategies.
- A new vault for the KIMA/USDT pool on PancakeSwap offers a 74% APR, incentivizing liquidity providers.
- Future plans include integrating Kima Swap API for seamless cross-chain transactions within Steer’s ecosystem.
Kima Network has announced a strategic partnership with Steer Protocol, a prominent platform in automated liquidity management within the decentralized finance (DeFi) ecosystem. This collaboration aims to improve the liquidity and efficiency of the Kima token market on decentralized exchanges (DEXs), benefiting all stakeholders involved.
Steer Protocol offers an advanced off-chain compute protocol that enhances liquidity management for Liquidity Providers (LPs). By integrating off-chain and on-chain data, Steer enables the development, publication, and utilization of data-driven algorithmic LP strategies. Currently, Steer manages over 2,500 concentrated liquidity pools across more than 33 Automated Market Makers (AMMs) on 33 chains, supporting a diverse range of over 800 unique assets.
Steer Protocol’s Role in Enhancing Kima Token Liquidity
Through this partnership, Steer Protocol will apply its advanced liquidity management strategies to the Kima token market on DEXs. By leveraging Steer’s Smart Pools and diverse strategies, the collaboration aims to enhance liquidity solutions.
As part of this initiative, Steer Protocol has introduced a dedicated vault for the KIMA/USDT pool on PancakeSwap, offering an attractive Annual Percentage Rate (APR) of approximately 74%. This initiative is designed to incentivize liquidity providers and enhance the overall liquidity of the Kima token. Interested participants can access the vault here.
Future Integration Plans
Looking ahead, Steer is exploring ways to integrate Kima Network’s capabilities by incorporating the Kima Swap API. This integration is expected to enable seamless cross-chain transactions and enhance the overall functionality of the Steer Protocol’s ecosystem.
Kima Network is a blockchain-based decentralized settlement protocol designed to address fragmentation in the crypto and broader financial space. By introducing a new financial primitive — the Smart Transaction — and an easy-to-use SDK built for Web3 and Web 2.0 apps, Kima aims to facilitate interchain and hybrid transactions.
The partnership between Kima Network and Steer Protocol is set to offer enhanced liquidity solutions that will benefit the DeFi community. More details about the partnership can be found here.
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