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Singapore — August 17th – Lido FinancePolygon will see a huge increase in liquidity thanks to ethereum staking giant, Mr. KyberSwap Elastic.
Lido Finance offers liquid staking services and is the most popular platform on Ethereum. Lido Finance enables stakers with the technology to power DeFi, CeFi, and CeFi apps. The first phase will bring liquidity providers more than $120,000 in liquidity mining reward, and there are additional incentives in the future.
What exactly is KyberSwap elastic?
KyberSwap’s newest protocol, dubbed Elastic, a tick-based AMM gives Liquidity Providers the benefits of concentrated liquidity as well as the ability to manage capital efficiently and reduce risk.
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 would remain active even with big price swings during high market volatility.
KyberSwap ElasticAlso, there is a Reinvestment Curve that compounds fees by automatically investing the fee earnings of the LPs back in the liquidity pool. This allows LPs to earn higher APYs as well as saving time.
KyberSwap Elastic allows LPs to choose among multiple fee levels. These rates can be tailored for individual factors, such as token volatility or risk appetites. KyberSwap Elastic also includes a Just-in-Time Attack Protection (JIT), which helps protect LP earnings against snipe attacks, which could reduce earnings of honest liquidity providers. So that LPs have security and peace of thought, they can also earn well.
Liquidity providers have the option to choose between 5 sMATIC-eligible pools starting 17 Aug 2022 KyberSwap Elastic to deepen liquidity and earn $LDO & $KNC rewards.
With KyberSwap’s Elastic protocol, LPs can enjoy benefits such as concentrated liquidity and compounding fees, providing higher capital efficiency and optimized rewards. KyberSwap Elastic has JIT protection so LPs can have better earnings and feel more secure.
Lido Pools using KyberSwap Elastic Polygon
Eligible Pools (Fee Tier).
- stMATIC-WMATIC (0.01%)
- USDC-stMATIC (0.04%)
- stMATIC-USDT (0.04%)
- stMATIC-DAI (0.04%)
- stMATIC-MAI (0.04%)
*Full list of eligible pools for Yield Farming can be viewed Here.
KyberSwap: Benefits for Lido Ecosystem
- For traders
- Swap rates are the best for stMATIC via DEX aggregation. Users can also identify other tokens before they trend/moon using on-chain metrics
- To Liquidity Providers
- Concentrated liquidity to support stMATIC pair and other tokens, stables or non-stables
- Liquidity provider fees – Auto-compounded (LP)
- Yield farming yields bonus liquidity
- Protect the earnings from Lido LPs with just-in-time protection against sniping and other attacks
- For Developers
Dapps can integrate with KyberSwap’s pools and aggregation APIThey can offer their customers the lowest rates, saving them time and effort.
KyberSwap and Lido Finance are proud partners in this effort to improve liquidity on Polygon, for the benefit of each ecosystem.
KyberSwap and Lido Finance will be working together in expanding their layer-2 scaling services.
KyberSwap contest with Polygon
KyberSwap has a Trading Contest exclusive to Polygon Chain. It offers a $250,000. USDC prize pool to 500 winners. The contest runs from August 16th 03:00 UTC until August 30th 15:59. Trades must be at least one trade per day.
To qualify, you must spend $50 and then view your ranked position on the Trading Leaderboard. More information can be found at the KyberSwap Campaigns page.
About Kyber Network
Kyber Network wants to create a world where every token is accessible anywhere.
KyberSwap.comOur flagship Decentralized Exchange platform (DEX), aggregator, and liquidity platform, enables traders to access the highest rates and maximizes liquidity provider returns.
KyberSwap has enabled 100+ integration projects, and enabled thousands of transactions totaling US$9.9B in value for its users. It is currently deployed on 12 chains, including Ethereum, BNB Chains, Polygons, Avalanche and Fantom.
Cronos and Arbitrum. Velas. Oasis. BitTorrent. Optimism.
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