xDollar Optimizes Liquidity for the xUSD Token on Polygon with the KyberDMM

xDollar has chosen the highly capital efficient KyberDMM DEX for better token liquidity on Polygon, with $75,000 in $XDO and $KNC liquidity mining rewards.

Polygon users also enjoyed the two-month long ‘Rainmaker’ liquidity mining campaign on KyberDMM, with $5.5M in rewards which incentivized strategic pools in the Polygon ecosystem and resulted in the KyberDMM reaching record highs as one of the fastest growing projects on Polygon shortly after its launch.

As part of this strategic initiative, the Kyber Network community has been voting on promising projects on Polygon to increase both the number and liquidity of key token-pair pools on KyberDMM as well as incentivize them with attractive liquidity mining campaigns. These joint initiatives with key projects on Polygon are starting with the launch of a liquidity mining campaign with xDollar, via its xUSD-USDC pool.

KyberDMM DEX allows xUSD LP’s to maximize the use of capital via:

  • Amplified Liquidity Pools with extremely high capital efficiency; less tokens required to achieve better liquidity and rates compared to AMMs.
  • Dynamic Fees that optimize returns for LPs.
  • Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.

How to Farm $KNC and $XDO

  1. Visit KyberDMM
  2. Switch Network from Ethereum to Polygon (Matic Mainnet).
  3. Visit the Pools page and add liquidity for the eligible xUSD-USDC pool (you will receive LP tokens representing your pool share)
  4. Go to the Yield page and stake your LP tokens on the xUSD-USDC farm. You will start receiving KNC and XDO rewards, which can be harvested anytime.
  5. Claim all harvested and unlocked rewards after 14 days (14-day vesting starts each time you harvest rewards).

BONUS Rewards: $3,000

Kyber and xDollar are not stopping at $75,000, though! There is another exciting incentive for xUSD-USDC pool LP’s and community members.

Contest Duration:

From September 21th, 23:59 to October 5th, 23:59 GMT+8

  • $2,000: 4 lucky LP’s will be randomly selected to win $500 each. Just add ANY amount of liquidity in the xUSD-USDC pool. Liquidity has to remain in the pool until at least October 5th, 23:59 GMT+8 to stand a chance to win. Note: Start adding liquidity right now to be early!
  • $1,000: 5 lucky winners get $200 each for retweeting the contest tweet #KNCXDO and completing basic tasks on Twitter.
  1. Follow @xdollarfi and @KyberNetwork on Twitter
  2. Retweet the contest tweet with the hashtag #KNCXDO
  3. Join https://t.me/xdollar_ann & https://t.me/kybernetwork/

About xDollar

An interest free lending platform built first on Polygon network for minting decentralized stablecoin against popular token assets, where you can borrow xUSD against other crypto tokens at 0% interest. Cross-chain. DAO Governance. Multi-collateral vault system.

Telegram | Discord | Website | Twitter

About Kyber Network

Kyber Network aims to deliver a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources (e.g. KyberDMM) to provide the best token rates to takers such as Dapps, aggregators, DeFi platforms, and traders.

Through Kyber, anyone can contribute or access liquidity, and developers can build innovative applications, including token swap services, decentralized payments, and financial Dapps — helping to build a world where any token is usable anywhere.

Kyber is powering more than 100 integrated projects and has facilitated over US$6 billion worth of transactions for thousands of users since its inception.

Telegram | Discord | Website | Twitter | Forum | Blog | Reddit | Facebook | Developer Portal | Kyber Tracker | KyberWidget Generator | Github | KyberDMM KyberDMM Docs

SOURCE: https://blog.kyber.network/xdollar-optimizes-liquidity-for-the-xusd-token-on-polygon-with-the-kyberdmm-5b03dca74037

 

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