Singapore — September 26th – KyberSwap and Avalanche have been working together for the past year, and it all started with a US$5.8 million liquidity mining campaign as part of our Avalanche Rush program. Since then, the partnership has boosted KyberSwap’s total value locked and Total Trading Volume by over $61 million and $10 billion, respectively.
More rewards are currently being offered by KyberSwap to Avalanche bulls for liquidity providers who deposit and stake their positions on their newest protocol, KyberSwap Elastic.
KyberSwap hosted Phase 3 of Avalanche Rush on September 26th, with 17 farms providing Avalanche liquidity providers up to $2 MILLION in reward incentives. Over $250,000 in KNC and AVAX liquidity mining rewards are anticipated to be distributed to liquidity providers as a part of the first stage of Phase 3, and more incentives are scheduled to be distributed over the subsequent stages.
What’s the Point of Including KyberSwap Elastic Market Liquidity
The most recent version of KyberSwap’s protocol, which is known as Elastic and is a tick-based AMM, provides Liquidity Providers (LPs) with the benefits of concentrated liquidity as well as the flexibility to achieve capital efficiency and control risks.
With concentrated liquidity, LPs have the choice of “concentrating” the liquidity to a certain price range or setting it to a larger price range in order to provide liquidity to an elastic pool. While a wider range would ensure that liquidity for uncorrelated token pairs like USDC-ETH would remain active even with large price swings during high market volatility, concentrated liquidity would use the pool’s liquidity more efficiently, simulating significantly higher levels of liquidity and achieving better slippage, volume, and earnings for LPs.
KyberSwap Elastic also includes a Reinvestment Curve, which automatically reinvests LP fee gains back into the liquidity pool, allowing LPs to earn higher APYs while saving time.
LPs on KyberSwap Elastic have the ability to determine the most appropriate rates for themselves by choosing from different fee categories. These rates take into account a variety of criteria, including token volatility and individual risk appetites, amongst others. In addition, KyberSwap Elastic is equipped with a feature known as Just-in-Time (JIT) Attack Protection, which safeguards LP earnings against snipe attacks that have the potential to lower the earnings of other honest liquidity providers. In order to ensure that LPs can profit reliably while still retaining their peace of mind.
KyberSwap Elastic details can be found here.
Important Details: Eligible Pools (Fee Tier):
- USDC-USDT (0.01%) *KNC rewards only
- AVAX-USDC.e (0.04%)
- AVAX-USDC.e (1%)
- AVAX-USDC (0.04%)
- AVAX-USDC (1%)
- AVAX-WETH.e (0.04%)
- AVAX-WBTC (0.04%)
- AVAX-DAI.e (0.3%)
- WETH.e-USDC (0.04%)
- AVAX-MIM (0.3%)
- KNC-WETH.e (0.3%)
- KNC-AAVE (0.3%)
- KNC-LINK (1%)
- KNC-MAI (1%)
- MAI-USDC (0.04%)
- SAVAX-USDT (1%)
- USDC-USDC.e (0.01%) *AVAX rewards only
*You can view the complete list of pools that qualify for Yield Farming on Avalanche here.
Benefits of KyberSwap for the Avalanche Ecosystem
1. For Traders
- Best swap rates for USDC, USDT, ETH, DAI, MAI, AAVE, LDO, StMATIC, WBTC, and KNC tokens through DEX aggregation, while allowing users to identify other tokens even before they trend or moon via on-chain data
2. For Liquidity Providers
- Concentrated liquidity for all token pairs, both stable and unstable
- Fees for LPs (liquidity providers) that automatically compound
- Using yield farming to provide bonus liquidity incentives
- Protection against sniping/just-in-time attacks to safeguard Avalanche LPs’ profits
3. For Developers
- To offer their own users the best rates while saving time and money, Dapps can interface with KyberSwap’s pools and aggregation API.
In this attempt to improve the liquidity on Avalanche Network for the mutual benefit of both ecosystems, KyberSwap is delighted to join with the Avalanche Foundation as an active participant.
About Kyber Network
Kyber Network is working on creating a world in which any token can be used anyplace other. KyberSwap.com, the company’s flagship DEX aggregator and liquidity platform, offers the most advantageous prices for traders in DeFi and increases the amount of money returned to liquidity providers.
Since its debut, KyberSwap has been used to power over 100 integrated projects and has acted as a facilitator for over $9.9 billion worth of transactions involving thousands of users. At the moment, it is being used in conjunction with a total of twelve other chains, namely Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent, and Optimism.
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