Pegaxy Enhances Liquidity for $PGX with KyberDMM DEX

Published on: 06.11.2021

Pegaxy has chosen the highly capital efficientKyberDMM DEX for enhanced token liquidity on Polygon, with $200,000 in $PGX and $KNC liquidity mining rewards!

Pegaxy Collaboration

These joint initiatives with popular Polygon projects continue with a $200,000 liquidity mining campaign with Pegaxy! Pegaxy is an exciting play-to-earn PVP horse racing game where players compete for top 3 placement against 11 other racers. Using strategic upgrades, food and skill, players must place in the top 3 to earn the platform’s utility token, VIS (Vigorus). Pegaxy is governed through the PGX governance token. Pegaxy just completed a successful token sale for their PGX token!

KyberDMM DEX allows $PGX LPs to maximise 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 react to market conditions and optimise returns for LPs.
Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.

Trade at the Best Rates on KyberDMM DEX

In addition, $PGX traders on KyberDMM DEX get much better rates on Polygon compared to trading on individual DEXs. This is possible via our new Dynamic Trade Routing feature which aggregates liquidity from multiple DEXs including our capital-efficient KyberDMM pools!

From ~6th Nov at 5pm GMT +8, liquidity providers can add any amount of liquidity to the eligible PGX-USDT pool on the KyberDMM on Polygon to unlock their share of the ~$200,000 in $PGX and $KNC liquidity mining rewards over the next two months.

PGX rewards can be added back to the PGX-USDT pool to earn even more rewards and as the governance token of Pegaxy, can be utilized in staking as well as transaction and breeding fees on the Pegaxy platform.

KNC rewards received can be staked on KNC pools or KyberDAO for additional KNC rewards or on KrystalGO for Token Sale allocations.

Important Details

Start time: November 6, 5pm GMT+8
End time: January 6, 5pm GMT+8
Reward: ~$200,000 in PGX and KNC
Campaign Duration: ~2 months
Vesting: ~14 Days
PGX Token Address: 0xc1c93D475dc82Fe72DBC7074d55f5a734F8cEEAE
KNC Token Address: 0x1c954e8fe737f99f68fa1ccda3e51ebdb291948c
PGX-USDT Pool: https://polygon-info.dmm.exchange/pool/0x3f1f398887525d2d9acd154ec5e4a3979adffae6

Campaign Structure

~2-month campaign with $100K in KNC and $100K in PGX
Bonus (Conditional): Campaign may be extended to 3 months with additional pools and bonus KNC rewards depending on the price of PGX!

How to Farm $PGX and $KNC

Visit KyberDMM DEX
Make sure you are on the Polygon network.
Visit the Pools page and add liquidity for the eligible PGX-USDT pool, which has a raindrop 💧 icon (you will receive LP tokens representing your pool share)
Go to the Farm page and stake your LP tokens on the PGX-USDT farms. You will start receiving PGX and KNC rewards, which can be harvested anytime.
Claim all harvested and unlocked PGX + KNC rewards after 14 days (14-day vesting starts each time you harvest rewards).

As mentioned above, KNC rewards received can be staked on KNC pools or KyberDAO for additional KNC rewards or on KrystalGO for Token Sale allocations.

You can also trade $PGX, $USDC, $USDT and other tokens at the best rates by navigating to the Swap page.

We look forward to working closely with the Pegaxy team on future collaborations!

About Pegaxy

Pegaxy (Pegasus Galaxy) is a racing game with futuristic mythological styling. Pega (the horses) are descendants of the mighty Pegasus. In this game, players will participate in PvP format races with randomised elemental variables to win rewards in the platform’s native utility token, VIS (Vigorus). Within the game, players are able to breed, rent, sell, and of course race their Pega to earn VIS tokens.

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$7 billion worth of transactions for thousands of users since its inception.