Olympus Labs and Kyber partner up to bring cryptocurrency financial products to market
(PRWEB) May 02, 2018 -- 1 May, 2018 – Olympus Labs, a blockchain financial ecosystem, signs strategic partnership with Kyber Network, a decentralized and trustless exchange (DEX).
With this partnership, the companies will collaborate on liquidity provision, promoting the future of DEX, and integration of token conversion protocols into the Olympus App and future cryptocurrency financial products. The teams are also creating an index that consists of KNC and MOT, allowing investors to invest in both projects with a single click.
“Decentralized exchanges put the trader back in control over their assets”, says Kai Chen, CEO at Olympus Labs, “It’s very important for the blockchain ecosystem in light of the increasing regulation and events such as hacks on centralized exchanges”.
Olympus Labs has already completed integration with Kyber Network within the Olympus app. This integration allows Olympus users to be able to trade a broad range of ERC20 tokens with a few taps within the app. With this, Olympus users will be able to buy, sell, and exchange OMG, KNC, and EOS among many other tokens directly within the Olympus app.
With the easy onboarding process and wide appeal of Olympus to cryptocurrency traders and users, this partnership will also improve the accessibility, visibility, and tradability of cryptocurrencies and drive awareness and adoption of different cryptocurrencies today.
“Kai and the Olympus team are highly energetic, and they have been very supportive of Kyber Networks' product. This integration makes it more convenient for users to trade cryptocurrencies and tokens, as users can make token swap within the app, instead of having to send tokens to an exchange before making the conversion”, said Tsun Ngai Lee, Head of Business at Kyber Network.
By leveraging on Kyber Network as a liquidity provider, it improves tokens-to-tokens convertibility within the Olympus APP and its future products. This helps to address crypto-asset liquidity challenges and thus reduces price volatility of products and tokens listed on the Olympus protocol, providing more stable price movements of crypto-assets for Olympus users.
Olympus intends to join Kyber in a global initiative to promote the importance of decentralized exchanges. Olympus and Kyber are planning on hosting several global hackathons that give eager and talented developers the opportunity to use Olympus’ and Kyber’s open-source repositories to build their own unique projects and applications within the blockchain space.
For the best projects that come from the hackathons, both teams will be providing early stage funding as well as the opportunity to integrate their projects into the Olympus or Kyber ecosystems.
“We hope to encourage more mainstream adoption of financial applications by allowing users to trade ERC20 tokens instantly atop Olympus’ financial core smart contract”, added Loi Luu, CEO of Kyber Network, “This will enable users and organizations alike to embrace the power of decentralized technology”.
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About Kyber Network:
Kyber Network is a decentralized and trustless exchange that enables instant conversion of crypto-assets with guaranteed liquidity.
Kyber Network’s approach to improve the liquidity of crypto-assets stems from the belief that the market deserves a safer and more efficient exchange to facilitate trades between consumers within the network. Kyber Network guarantees high liquidity by tapping on multiple reserves, and since the entire exchange is on-chain, trades can be made instantaneously.
Kyber Genesis Token (KGT) holders have been granted early access to the platform since February 2018. Kyber Network’s platform, which is deployed on the Ethereum mainnet, allows users to trade instantly between Ethereum and other supported ERC20 tokens.
About Olympus Labs:
Olympus Labs is a protocol for the decentralized creation of cryptocurrency financial products with a one-stop-shop mobile application that offers investors the financial products built using the Olympus Protocol.
The Olympus Ecosystem integrates financial product creators, third-party applications, exchanges, and price oracles, and we encourage third-party developers to build their own financial products and D-apps using Olympus Protocol.
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For more information:
To learn more about the project, please visit http://www.olympuslabs.io.
To invest in the project, you can buy MOT on Kyber and Olympus app, as well as on OKEx, Bibox, FuBT and BTCGO
To support the project, you can join us on social media:
Telegram chat: https://t.me/olympuslabs
Twitter: twitter.com/olympuslabsbc
Wechat: OlympusLabs
Carylyne Chan, Olympus Labs, http://olympuslabs.io, +86 13020159545, [email protected]
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