Kyberswap Elastic Liquidity Mining
Kyberswap Elastic liquidity mining with Polygon Network. This first phase of this initiative is set to bring liquidity providers over 120,000 KNC in liquidity mining rewards, with more incentives to come soon.
Polygon is a decentralized Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing security. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
Polygon provides a wide variety of modules developers can use to easily deploy and configure their custom blockchains. These include consensus and governance modules, as well as a variety of execution environments and virtual machine implementations.
Liquidity Mining with KyberSwap Elastic on Polygon
From 22 September, liquidity providers can choose from 12 eligible pools on KyberSwap Elastic to deepen liquidity on Polygon and earn KNC incentives. LPs can enjoy the advantages of concentrated liquidity, auto-compounding, multiple fee tiers, and JIT protection all on KyberSwap Elastic.
Important Details: Eligible Pools (Fee Tier):
- USDC-USDT (0.008%)
- DAI-USDT (0.008%)
- DAI-USDC (0.008%)
- MATIC-USDC (1%)
- ETH-stMATIC (0.04%)
- ETH-USDT (0.04%)
- ETH-DAI (1%)
- ETH-WBTC (0.04%)
- MAI-KNC (0.04%)
- AAVE-KNC (1%)
- KNC-LDO (1%)
KyberSwap: Benefits for Polygon Ecosystem
1. For Traders
- Best swap rates for USDC, USDT, ETH, DAI, MAI, AAVE, LDO, StMATIC, WBTC, and KNC tokens through DEX aggregation, while letting users identify other tokens even before they trend/moon via on-chain metrics
2. For Liquidity Providers
- Concentrated liquidity for any token pair, 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 Polygon LPs
3. For Developers
- Dapps can integrate with KyberSwap’s pools and aggregation API to provide the best rates for their users, saving time and resources.
Summary of Farming Process
- Get the tokens you want to add liquidity for on Polygon (USDC, USDT, ETH, DAI, MAI, AAVE, LDO, StMATIC, WBTC, KNC)
- 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: Stake the deposited liquidity position NFT in the farm to start getting rewards
ABOUT Kyber Network
Kyber Network is a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates.
KyberSwap is a decentralized exchange (DEX) aggregator. We provide our traders with the best token prices by analyzing rates across thousands of exchanges instantly.
Polygon is a decentralized Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing security.