On July 7th, 2022, KyberSwap launched its latest protocol, Elastic. It gives liquidity providers capital efficiency and risk management in their investments. Now, they’ve partnered with Lido Finance, a leading Ethereum staking protocol, to enhance liquidity rewards on Polygon.
The KyberSwap Elastic-Lido partnership is in its first phase which is bringing over $120,000 in liquidity mining rewards. This is is just the beginning. In this article, you will learn more about these leading DeFi platforms and how traders, liquidity providers, and developers will benefit.
Choose From 5 Pools to Earn LDO & KNC Rewards
From August 16th, investors will be able to pick any of Kyber’s liquidity pools and get compounded fees. Here they are:
- stMATIC – MATIC. (Fee Tier: 0.01%)
- stMATIC – USDC. (Fee Tier: 0.04%)
- stMATIC – USDT. (Fee Tier: 0.04%)
- stMATIC – DAI. (Fee Tier: 0.04%)
- stMATIC – MAI. (Fee Tier: 0.04%)
#KyberSwap & @LidoFinance partner up to enhance liquidity on @0xPolygon!🤝
💰Enjoy 5⃣ $stMATIC farms with $120K+ incentives for $USDC $DAI $WMATIC $MAI $USDT LPs!
✅Add #ConcentratedLiquidity and #farm NOW👉https://t.co/5ncn0QgUE7 👨🌾📖Full Details: https://t.co/j8g63bDJNy pic.twitter.com/ww1gyeYAdS
— Kyber Network (@KyberNetwork) August 16, 2022
Moreover, with these pools, liquidity providers will get an optimized product for slippage, volume, and earnings. On the other hand, KyberSwap Elastic has a reinvestment curve, which let earnings fees reinvest into liquidity pools so investors can get higher APYs.
Also, Kyberswap has a Just-in-Time (JIT) Attack Protection feature which makes liquidity providers more secure with their earnings.
Benefits of KyberSwap Elastic – Lido Partnership
This partnership is giving traders, liquidity providers, and developers important benefits:
- For Traders: They will be able to swap tokens to get stMATIC in KyberSwap with better rates. Also, traders will identify other Polygon tokens in the exchange.
- For Liquidity Providers:
- Any stMATIC token pairs will have concentrated liquidity (compounded rewards). More info about adding liquidity to Lido pools is here.
- stMATIC farms will have liquidity incentives. More info about the farming process is here.
- Lido’s liquidity providers will have their earnings protected with Just-in-Time (JIT) Attack Protection, as mentioned above.
- For Developers: Decentralized applications can integrate with KyberSwap’s liquidity pools and its API. This lets users earn better rates and have a better user experience.
Participate in KyberSwap – Lido Contest to Win Up to $28,000
On the other hand, KyberSwap Elastic-Lido together are launching a Trading Contest only in Polygon’s chain with a $28,000 reward for 500 users. So, you will be able to participate from August 16th (3:00 UTC) to August 30th (15:59 UTC).
Also, participants need to trade with at least $50 to qualify. So, you can see the ranking on the Trading Leaderboard. More info here.
Stop losing money on DEX exchange fees. Use Kyber’s aggregator and get access to one of the best exchange rates from 11 chains and 80 DEXs today.
📢LIVE NOW❗️
Our #KyberSwap x @0xPolygon #TradingContest has begun!Trade any token $MATIC $LINK $KNC $USDC $USDT $DAI $MAI $ETH on #Polygon and compete for top ranks for top #Prizes!!🏆
🔁Start #swapping NOW👉https://t.co/YnRs5rMsmS https://t.co/xYL9YEQ0pR
— Kyber Network (@KyberNetwork) August 16, 2022
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Kyber. Copyright Altcoin Buzz Pte Ltd.
