Kyber Network and BitTorrent have announced the KyberSwap integration, with more than $1.5 million in liquidity mining and trading incentives immediately available to users.
The partnership will accelerate decentralized finance (DeFi) adoption with the combined benefits of the best trading and earning rates, ease of use, security and multichain capabilities.
Everything a chain needs in one DEX
KyberSwap is the leading multichain decentralized exchange (DEX) and is the place to trade and earn the best rates in all of DeFi.
As the pioneer of concepts such as Wrapped Bitcoin (wBTC) and Dynamic Market Making, KyberSwap is announcing its 11th chain integration with BitTorrent Chain. Existing chain integrations are Ethereum, Avalanche, Polygon, BNB, Cronos, Fantom, Arbitrum, Velas, Aurora and Oasis Emerald.
As of March 2022, KyberSwap was the seventh DEX in total value locked, with more than $8 billion in trading volume.
As one of the first DEXs to be integrated with BitTorrent Chain, KyberSwap provides everything an interoperability chain needs in a DEX, along with a comprehensive set of liquidity pools, eliminating the need for other DEXs or aggregators.
Will KyberSwap become the defacto DEX with the most liquidity and swaps on BitTorrent Chain while cross-chain bridging with the Ethereum, BNB Chain and Tron networks? The partnership certainly hopes so.
What is BitTorrent Chain?
Already a household name around the world, BitTorrent is an Ethereum Virtual Machine cross-chain protocol designed with a proof-of-stake mechanism that leverages sidechains for the scaling of smart contracts on Ethereum, Tron and BNB Chain.
Why add liquidity on KyberSwap?
KyberSwap allows liquidity providers (LPs) to maximize returns with the best trading rates and attractive incentives and yields:
Amplified liquidity pools with high capital efficiency and fewer are tokens required to achieve better liquidity and rates compared to automated market makers
Dynamic fees that react to market conditions and optimize returns for LPs
Better reliability and security: audited by ChainSecurity and insured up to $20 million by Unslashed Finance.
With KyberSwap, BitTorrent Chain users can trade and earn with the best rates and access the full spectrum of multichain DeFi capabilities. More integrations, features and rewards will be coming soon.
To kick off this exciting partnership, KyberSwap is holding its Sure-Win Trading Contest with a $30,000 Kyber Network Crystal (KNC) reward pool.
Beginning on April 21, users can swap any token on BitTorrent Chain to get a share of the reward pool until April 30.
How to win:
- Visit kyberswap.com.
- Own BitTorrent-New (BTT) tokens on BitTorrent Chain in a wallet for gas fees.
- Perform any token swap. The minimum trade volume must be $100. All trades must be performed on the KyberSwap website.
Liquidity mining with BitTorrent Chain
BitTorrent will be enhancing liquidity on KyberSwap with a $1.5-million liquidity mining campaign!
On April 20, LPs began adding liquidity to the 13 eligible KyberSwap pools on BitTorrent Chain to unlock a share of the $1.5 million in BTT and KNC rewards available during the next four months.
How to bridge assets to BitTorrent Chain
To move assets to BitTorrent Chain, use the BitTorrent Bridge. The entire process is fast and simple, with an available how-to guide.
Note that gas fees on BitTorrent Chain are in BTT tokens.
- Start date: April 21
- Duration: four months
The following pools are available in variations of Tether (USDT), Ether (ETH), Tron (TRX), KNC and BTT.
- ● USDT_t-USDT_b
- ● USDT_t-USDT_e
- ● TRX-USDT_t
- ● WBTT-USDT_t
- ● WBTT-TRX
- ● KNC_e-ETH
- ● KNC_b-USDT.b
No token-vesting is required.
For more details on the KyberSwap and BitTorrent Chain partnership, including monthly trading competitions, community giveaways and exclusive airdrops, visit the full Medium article here.
About Kyber Network
Kyber Network is building a world where any token is usable anywhere. Its flagship DEX KyberSwap provides the best rates for traders in DeFi and maximizes returns for liquidity providers.
KyberSwap powers 100-plus integrated projects and has facilitated more than $7 billion of transactions for thousands of users since its inception. It is currently deployed on 11 chains: Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis and BitTorrent.