Decentralized finance liquidity hub Kyber Network is gear up to become the next DeFi protocol to enter the expanding Polygon ecosystem.

In a statement issued on Wednesday, Kyber announced the launch of Rainmaker, a liquidity mining program on the platform's Dynamic Market Maker protocol that will commence on June xxx to mark Kyber'south expansion to Polygon.

According to the announcement, the Rainmaker program will distribute $30 million in rewards to liquidity providers on the Kyber DMM across both Polygon and Ethereum.

Of the total reward pool, 12.6 million Kyber Network Crystal (KNC) — about $25 million — will be distributed to liquidity providers (LPs) on selected Ethereum-based amplified pools. The remaining 2.52 million KNC — about $five 1000000 — volition exist for LPs on Polygon-based amplified pools.

These rewards be will in the form of KNC and of Polygon's MATIC tokens, which can likewise be staked to provide liquidity on KNC and MATIC pools to compound reward earnings. Rainmaker advantage earners who receive KNC can also stake some on the KyberDAO to participate in governance activities thereby earning boosted voting rewards.

According to the annunciation, the Polygon phase of the Rainmaker liquidity mining program will run for two months, while that for Ethereum volition take place over three months — starting June xxx for both.

Apart from the $5 million worth of KNC, Kyber is also contributing $500,000 in MATIC "coins" for the Rainmaker liquidity mining program.

For Kyber, Rainmaker volition help to further expand Polygon's growing liquidity. Indeed, DeFi projects continue to establish a presence on Polygon amidst a broader push for multichain strategies and greater overall scalability.

Detailing the importance of the Kyber DMM and Polygon partnership, Kyber Network CEO Loi Luu told Cointelegraph: "Kyber'due south vision is to deliver a sustainable liquidity infrastructure for DeFi, and this besides extends to fast-growing ecosystems such as Polygon," adding:

"This Polygon partnership and the $30M Rainmaker liquidity mining plan will assist showcase the powerful benefits of the Kyber DMM protocol and is an of import step towards profoundly boosting liquidity for DeFi, likewise as growing the number of users, developers, and Dapps in the Kyber and Polygon ecosystems."

Related: DeFi projects launch on Polygon, usage skyrockets

Polygon usage continues to skyrocket triggering meaning integration efforts by DeFi primitives. Back in May, 0x — a liquidity span for decentralized exchanges (DEXs) — appear an API tool for Ethereum-based DEXs similar SushiSwap, mStable and Dfyn to collaborate with the Polygon ecosystem.

Ren — a cross-concatenation liquidity protocol — has likewise created a bridge to allow porting of Ren-based wrapped tokens to the Polygon network.