Lido Finance Partners with KyberSwap
Lido Finance Partners with KyberSwap to enhance liquidity on Polygon with over $120,000 in liquidity mining rewards.
Lido Finance is a state of the art liquid staking protocol, powering DeFi and CeFi applications alike in their vibrant ecosystem. It empowers stakers to put their staked assets to use on their supported networks: Ethereum, Solana, Polygon and Polkadot. As one of the biggest liquid staking protocols in DeFi, we are proud that Lido Finance has chosen KyberSwap to enhance liquidity for the benefit of all three ecosystems.
From 16th Aug, liquidity providers can choose from 5 stMATIC eligible pools on KyberSwap Elastic to deepen liquidity and earn $LDO & $KNC rewards!
With KyberSwap’s Elastic protocol, LPs can enjoy concentrated liquidity and compounding fees, giving you higher capital efficiency and maximizing rewards!
*Learn more about KyberSwap Elastic here.
Important Details:
Eligible Pools (Fee Tier):
- stMATIC-WMATIC (0.01%)
- USDC-stMATIC (0.04%)
- stMATIC-USDT (0.04%)
- stMATIC-DAI (0.04%)
- stMATIC-MAI (0.04%)
*Full list of eligible pools for Yield Farming can be viewed here.
**Eligible pools for yield farming will be marked with a money bag icon.
Summary of Farming Process
- Get the tokens you want to add liquidity for on Polygon (stMATIC, MATIC, USDC, USDT, DAI, MAI).
- Add liquidity for the eligible Elastic pools and you will receive an NFT that represents your liquidity position
- Deposit your liquidity position NFT to the farming contracts
- IMPORTANT Last Step: Stake the deposited liquidity position NFT in the farm to start getting rewards
Adding liquidity to Lido Elastic pools
- Under “Earn -> Pools” on Polygon, select Elastic Pools
- Add liquidity to the eligible pools at the fee tiers mentioned above.
- Key in your deposit amount for the token pair. Approve the tokens if you have not done so earlier.
- Input a custom price range in which you would like to provide liquidity by indicating the min price and the max price of that range. A narrower range gives your higher concentrated liquidity and more fees, while a bigger range would give a higher chance of the pool always being active (and get yield farming rewards).
- After adding liquidity, you will receive an NFT (non-fungible token) that represents your liquidity position.
- You can view your liquidity positions on the “Earn -> My Pools” page.
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, our flagship Decentralized Exchange (DEX) aggregator and liquidity platform, provides the best rates for traders in DeFi and maximizes returns for liquidity providers.
KyberSwap powers 100+ integrated projects and has facilitated over US$9.9 billion worth of transactions for thousands of users since its inception. Currently deployed across 12 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.
About Lido
Lido is the leading liquid staking solution – providing a simple and secure way to earn interest on your digital assets. By staking with Lido your assets remain liquid and can be used across a range of DeFi applications, earning extra yield.
