QiDAO Supports Kyber Network
QiDAO Supports Kyber Network Crystal (KNC) token as collateral on the Polygon network, through the new KNC vault on https://mai.finance/.
KNC is a utility and governance token and an integral part of KyberSwap. QiDAO Supports Kyber Network, KNC holders can stake their KNC and vote on initiatives to receive trading fees generated on KyberSwap, along with other benefits.
New $KNC Vault on mai.finance
KNC being supported as a collateral asset on QiDAO adds another valuable utility for token holders! QiDAO allows you to keep your KNC and still be able to spend its value. You are able to borrow the MAI stablecoin with KNC without having to sell your crypto assets, and do so at 0% interest on Polygon!
How to use KNC on QiDAO and KyberSwap effectively
Here are 2 easy ways to use KNC on QiDAO and KyberSwap to maximize your yield on Polygon!
1. Maximum Yield Loop (MAI-KNC farm)
- On QiDAO, borrow MAI by depositing KNC as collateral
- On KyberSwap, add liquidity and farm more KNC on the MAI-KNC farm
- With your KNC yield, borrow more MAI, and repeat the process above
- When you borrow MAI using KNC, you may also get bonus QI token rewards (pending QiDAO vault incentive vote)!
2. Simple KNC Farming (MAI-USDC farm)
- On QiDAO, borrow MAI by depositing KNC as collateral
- On KyberSwap, with your borrowed MAI, add liquidity and farm more KNC on the MAI-USDC farm
- With your KNC yield, borrow more MAI, and repeat the process above
- When you borrow MAI using KNC, you also get bonus QI token rewards (pending QiDAO vault incentive vote)!
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, 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$10 billion worth of transactions for thousands of users since its inception. Currently deployed across 13 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.
About QuiDAO
QiDAO is an open source and non-custodial stable protocol for extracting value out of priced assets. Simply create a vault, deposit your crypto assets, and start borrowing stablecoins against your collateral’s value. It is self-sustaining, community-governed, and decentralized. Loans are secured by always having more value locked than the amount of debt given out. Loans are paid out and repaid in MAI (a stablecoin soft pegged to the USD) and at all times, MAI stablecoins are fully backed by collateral. QiDAO already has $65M in TVL!
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