Mar 21
Avalanche’s 2nd Rush phase launches on KyberSwap: $1M in mining rewards
Seven months ago, KyberSwap deployed on the Avalanche network for the first phase of a collaboration that saw great success in improved liquidity and rates for Avalanche’s decentralized finance (DeFi) ecosystem, allowing Kyber Network to kickstart collaborations with popular ecosystem projects.
The long-awaited phase two of Avalanche liquidity mining is ready to launch.
Starting from March 21, at 1:00 pm UTC, liquidity providers can add liquidity to eligible pools on KyberSwap on Avalanche and access approximately $1 million in Avalanche (AVAX) and Kyber Network (KNC) liquidity-mining rewards for the next four months.
What is Avalanche?
Avalanche is an open, programmable smart contracts platform with high throughput and near-instant transaction finality. The platform’s high performance has helped it become a popular, rapidly growing venue for DeFi decentralized apps (DApps) and nonfungible tokens. KyberSwap will continue playing a vital role in providing critical liquidity infrastructure for Avalanche’s thriving DeFi ecosystem.
“Enhancing liquidity opportunities is a key factor in growing the DeFi ecosystem and welcoming new participants into the community. We support Kyber’s vision to deliver a sustainable liquidity infrastructure and welcome their protocol to establish a more valuable ecosystem on Avalanche,” said Emin Gün Sirer, director of the Avalanche Foundation.
Why use KyberSwap?
Liquidity providers on KyberSwap enjoy important benefits not available on typical automated market makers.
- Decentralized exchange (DEX) aggregation — Better rates are available on BNB Smart Chain (BSC) versus trading on individual DEXs by a dynamic trade routing feature that aggregates liquidity from multiple DEXs, including the capital-efficient KyberSwap pools.
- Amplified liquidity pools — Liquidity providers use amplified pools that enjoy excellent capital efficiency with reduced trade slippage. With the same pool and trade size, stable token pairs with low price-range variability — e.g., Tether (USDT) and USD Coin (USDC) — can have up to 400-times better slippage than other platforms. Liquidity providers can provide better prices and earn more fees with less capital.
- Dynamic fees — Protocol fees are adjusted dynamically based on market conditions to maximize returns and reduce the impact of impermanent loss for liquidity providers, with fees automatically accruing from pool transactions.
- Fully permissionless — Anyone can create a pool or add liquidity to existing pools, while any DApp, DEX aggregator or end-user can access this liquidity. KyberSwap is already integrated with 1Inch Network, ParaSwap, 0x, Matcha and Slingshot, with more aggregators and DApps later.
- Reliable and secure — KyberSwap’s codebase has been audited by external auditors such as ChainSecurity and is open-source on GitHub for community review. KyberSwap doesn’t use third-party oracles and is not vulnerable to external oracle risks. It is also
https://nftstudio24.com/avalanches-2nd-rush-phase-launches-on-kyberswap-1m-in-mining-rewards/
