DeFi Yield Protocol x Kyber Network Partnership
DeFi Yield Protocol has chosen the highly capital-efficient KyberDMM DEX to boost DYP token liquidity on Avalanche, with $300,000 in $DYP and $KNC liquidity mining rewards.
KyberDMM (Kyber Dynamic Market Maker) is an innovative and capital efficient DEX protocol that enhances liquidity with amplified pools, and optimizes returns for liquidity providers with dynamic fees.
On top of the main ‘Rainmaker’ liquidity mining campaign on the Avalanche network (~$5.8M in rewards), the Kyber community and KyberDAO have been voting on promising projects on Avalanche such as DeFi Yield Protocol to run joint liquidity mining campaigns together. The aim is to increase the number and liquidity of key token pools on KyberDMM as well as incentivize liquidity providers with attractive yield.
How to Farm $DYP (and $KNC later on)
- Visit KyberDMM DEX.
- Make sure you are on the Avalanche network.
- Visit the Pools page and add liquidity for the eligible DYP-WAVAX pool, which has a raindrop 💧 icon (adding AVAX instead of WAVAX is fine; it’d auto-convert). You will receive LP tokens representing your pool share.
- Go to the Yield page and stake your LP tokens on the DYP-WAVAX farm. You will start receiving $DYP rewards, which can be harvested and claimed anytime as there is no vesting period.
Besides adding liquidity for and farming $DYP, you are also able to trade the token on KyberDMM DEX by navigating to the Swap page.
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 DEX) 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$7 billion worth of transactions for thousands of users since its inception.
About DeFi Yield Protocol
DeFi Yield Protocol (DYP) is a unique platform that offers solutions for yield farming, staking, NFTs, and enabling users to leverage the advanced trading tools of the DYP.
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