Singapore, Sept. 26 — One year ago, KyberSwap began a fruitful partnership with Avalanche, starting with a $5.8-million liquidity mining campaign as part of its Avalanche Rush program. Since then, this partnership has helped bring over $61 million in total value locked and more than $10 billion in total trading volume for KyberSwap.
Now, KyberSwap is continuing to provide Avalanche (AVAX) bulls with more incentives for liquidity providers who deposit and stake their liquidity positions on its newest protocol, KyberSwap Elastic.
Commencing on Sept. 26, KyberSwap is hosting Phase 3 of Avalanche Rush, with 17 farms bringing Avalanche liquidity providers up to $2 million in reward incentives. The first stage of Phase 3 is set to bring liquidity providers over $250,000 in KNC and AVAX liquidity mining rewards, with more incentives planned to come over the next phases.
Why add liquidity on KyberSwap Elastic
KyberSwap’s newest protocol, Elastic, is a tick-based automated market maker that gives liquidity providers (LPs) the advantages of concentrated liquidity and the flexibility to achieve capital efficiency and manage risks.
With concentrated liquidity, LPs have the flexibility to supply liquidity to an Elastic pool either by “concentrating” the liquidity to a narrow price range or set to a wider price range. Concentrated liquidity would use the pool’s liquidity more efficiently, mimicking much higher levels of liquidity and achieving better slippage, volume and earnings for LPs, while a wider range would ensure liquidity for uncorrelated token pairs, such as USDC-ETH, and would remain active even with big price swings during high market volatility.
KyberSwap Elastic also has a Reinvestment Curve, which compounds fees by automatically reinvesting the fee earnings of LPs back into the liquidity pool so LPs earn higher annual percentage yields while saving time.
LPs on KyberSwap Elastic can also choose from multiple fee tiers to select the best-suited rates for individuals taking into consideration factors, such as token volatility, individual risk appetites, etc. In addition, KyberSwap Elastic comes with a just-in-time attack protection feature, which protects LP earnings from snipe attacks that would reduce the earnings of other honest liquidity providers. So, LPs can earn securely while enjoying peace of mind.
Learn more about KyberSwap Elastic 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
*The full list of eligible pools for Yield Farming on Avalanche can be viewed here.
KyberSwap: Benefits for Avalanche’s ecosystem
1. For traders:
- Traders get the best swap rates for USD Coin (USDC), Tether (USDT), Ether (ETH), Dai, Mai, Aave, Lido (LDO), Staked MATIC (stMATIC), Wrapped Bitcoin (wBTC), KNC tokens through decentralized exchange (DEX) aggregation, while users identify other tokens even before they trend and/or moon via on-chain metrics.
2. For LPs:
- Concentrated liquidity for any token pair, stables and non-stables.
- Auto-compounded LP fees.
- Bonus liquidity incentives through yield farming.
- Sniping/just-in-time attack security to protect the earnings of Avalanche LPs.
3. For developers:
- Decentralized applications can integrate with KyberSwap’s pools and aggregation API to provide the best rates for its users, saving time and resources.
KyberSwap is proud to partner with the Avalanche Foundation in this initiative to enhance liquidity on Avalanche Network for the benefit of the two ecosystems.
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, its flagship DEX aggregator and liquidity platform, provides the best rates for traders in decentralized finance and maximizes returns for liquidity providers.
KyberSwap powers over 100 integrated projects and has facilitated over $10 billion worth of transactions for thousands of users since its inception. It is currently deployed across 12 chains: Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.
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