Singapore, September 26th — A year ago, KyberSwap began a fruitful partnership with Avalanche, which began with a $5.8 million liquidity mining campaign under the Avalanche Rush program. Since then, this partnership has helped bring KyberSwap over $61 million in aggregate value and over $10 billion in aggregate trading volume.
Now, KyberSwap Avalanche (AVAX) bulls continue to incentivize liquidity providers to deposit and deploy their liquidity positions on its latest protocol, KyberSwap Elastic.
Beginning September 26, KyberSwap will host Phase 3 of Avalanche Rush featuring 17 farms bringing up to $2 million in bounty incentives to Avalanche liquidity providers. The first phase of Phase 3 is set to bring liquidity providers over $250,000 in KNC and AVAX liquidity mining rewards, with more incentives planned for the next phases.
Why add liquidity on KyberSwap Elastic?
KyberSwap’s newest protocol, Elastic, is a tick-based automated market maker that offers liquidity providers (LPs) the benefits of concentrated liquidity and the flexibility to achieve capital efficiency and manage risk.
With concentrated liquidity, LPs have the flexibility to provide liquidity to an elastic pool by either “concentrating” liquidity in a narrow price range or fixing it in a broader price range. Concentrated liquidity would use pool liquidity more efficiently, mimicking much higher levels of liquidity and generating better slippage, volume and returns for LPs, while wider spread would ensure liquidity for uncorrelated token pairs such as USDC-ETH and even remain active with large price swings high market volatility.
KyberSwap Elastic also features a reinvestment curve that increases fees by automatically reinvesting LPs’ fee income back into the liquidity pool, allowing LPs to earn higher annual percentage returns while saving time.
LPs on KyberSwap Elastic can also choose from multiple tiers of fees to select the most appropriate tariffs for individuals considering factors such as token volatility, individual risk tolerance, etc. In addition, KyberSwap Elastic provides a Just-In-Time Attack Protection feature that protects LP earnings from snipe attacks that would reduce the earnings of other honest liquidity providers. So LPs can earn safely and have peace of mind at the same time.
Learn more about KyberSwap Elastic here.
Important Details: Eligible Pools (Fee Level)
- USDC-USDT (0.01%) *KNC Awards 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-MAY (1%)
- MAY USDC (0.04%)
- SAVAX USDT (1%)
- USDC-USDC.e (0.01%) *AVAX Awards only
*The full list of eligible pools for yield farming on Avalanche can be viewed here.
KyberSwap: Avalanche Ecosystem Benefits
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 spotting a trend and/or moon via on-chain metrics.
2. For records:
- Concentrated liquidity for each token pair, stable and non-stable.
- Automatically compounded LP fees.
- Bonus liquidity incentives through yield farming.
- Sniping/just-in-time attack security to protect Avalanche LP’s revenue.
3. For developers:
- Decentralized applications can be integrated with KyberSwap’s pools and aggregation API to provide users with the best rates and save time and resources.
KyberSwap is proud to partner with the Avalanche Foundation on this initiative to improve liquidity on the Avalanche Network for the benefit of both 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, offers the best rates for traders in decentralized finance and maximizes returns for liquidity providers.
KyberSwap supports over 100 built-in projects and has facilitated over $10 billion worth of transactions for thousands of users since its inception. It is currently deployed in 12 chains: Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.
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