Enhancing Liquidity on Avalanche
Enhancing Liquidity on Avalanche, Benqi and Yeti Partners with Kyberswap in a joint initiative to enhance liquidity and provide the best rates for sAVAX and YUSD tokens on Avalanche.
Add liquidity to the eligible pools KyberSwap Elastic on Avalanche and earn liquidity mining rewards! In the first phase of this cooperative endeavor, Enhancing Liquidity on Avalanche liquidity providers will collect over $200,000 in liquidity mining awards.
With their newest protocol KyberSwap Elastic, liquidity providers can enjoy even better earnings and flexibility to plan individual earning strategies!
Liquidity Mining with BENQI and Yeti Finance on KyberSwap Elastic
Since 17th Aug, liquidity providers can add liquidity to the eligible sAVAX and YUSD pools on KyberSwap Elastic on Avalanche and earn KNC, QI and YETI rewards!\
With the 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)
- sAVAX-AVAX (0.01%)
- sAVAX-YUSD (0.04%)
- USDC-YUSD (0.01%)
*Full list of eligible pools for Yield Farming on Avalanche can be viewed here.
KyberSwap: Benefits for the BENQI, Yeti Finance and Avalanche Ecosystem
1. For Traders
- Best swap rates for sAVAX and YUSD through DEX aggregation, while letting traders identify other tokens even before they trend/moon via on-chain metrics
2. For Liquidity Providers
- Concentrated liquidity for sAVAX, YUSD and any other token, stables and non-stables
- Auto-compounded LP (liquidity provider) fees
- Bonus liquidity incentives through yield farming
- Sniping/Just-in-time attack protection to protect the earnings for BENQI and Yeti LPs
3. For Developers
- Dapps can integrate with KyberSwap’s pools and aggregation API to provide the best rates for their own users, saving time and resources.
Adding liquidity to BENQI / Yeti Elastic pools
- Under “Earn -> Pools” on Avalanche, 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 wider 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.
On the “Farm” page on the Avalanche network, choose the pool you wish to farm. Click the “Deposit” button to deposit your liquidity position NFT (ID number) into the farming smart contract so you can eventually stake them into the farms. Kyber Network is building a world where any token is usable anywhere. KyberSwap.com is the flagship Decentralized Exchange (DEX) aggregator and liquidity platform. The platform provides the best rates for traders in DeFi and maximizes returns for liquidity providers.
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.
About Benqi
Yeti Finance is a next-gen decentralized borrowing protocol built on Avalanche. This innovative protocol enables users to borrow up to 21x leverage against their entire portfolio of crypto assets, while continuing to earn the yield rewards generated from deposited assets.
Unlock deep liquidity, borrow at the lowest collateral ratios, and borrow against your entire portfolio to gain better protection against liquidations.
