Lido Finance Partners With KyberSwap Elastic to Enhance Liquidity on Polygon With Over $120,000 in Liquidity Mining Rewards

2 years ago

Singapore — August 17th – Lido Finance, a elephantine successful the Ethereum staking world, volition beryllium enhancing liquidity connected Polygon with KyberSwap Elastic.

Lido Finance is the largest level for liquid staking services connected Ethereum. Powering DeFi and CeFi applications alike with their technology, Lido Finance empowers stakers to enactment their staked assets to usage connected their supported networks: Ethereum, Solana, Polygon and Polkadot. This archetypal signifier of this associated inaugural is acceptable to bring liquidity providers implicit $120,000 successful liquidity mining rewards, with much incentives to travel successful the adjacent future.

What is KyberSwap Elastic?

KyberSwap’s newest protocol, dubbed Elastic, is simply a tick-based AMM that gives Liquidity Providers (LPs) the advantages of concentrated liquidity and the flexibility to execute superior ratio and negociate risks.

With concentrated liquidity, LPs person the flexibility to proviso liquidity to an Elastic excavation either by “concentrating” the liquidity to a constrictive terms scope oregon acceptable to a wider terms range. Concentrated liquidity would usage the pool’s liquidity much efficiently, mimicking overmuch higher levels of liquidity and achieving amended slippage, volume, and net for LPs portion a wider scope would guarantee liquidity for uncorrelated token pairs specified arsenic USDC-ETH would stay progressive adjacent with large terms swings during precocious marketplace volatility.

KyberSwap Elastic besides has a Reinvestment Curve, which compounds fees by automatically reinvesting the interest net of LPs backmost into the liquidity excavation truthful LPs gain higher APYs portion redeeming time.

LPs connected KyberSwap Elastic tin besides take from aggregate interest tiers to prime the best-suited rates for individuals taking into information factors specified arsenic token volatility, idiosyncratic hazard appetites, etc. In addition, KyberSwap Elastic comes with a Just-in-Time (JIT) Attack Protection feature, which protects LP net from snipe attacks that would trim the net of different honorable liquidity providers. So LPs tin gain securely portion enjoying a bid of mind.

From 17th Aug 2022, liquidity providers tin take from 5 sMATIC eligible pools connected KyberSwap Elastic to deepen liquidity and gain $LDO & $KNC rewards.

With KyberSwap’s Elastic protocol, LPs tin bask benefits specified arsenic concentrated liquidity and compounding fees, providing higher superior ratio and optimized rewards. KyberSwap Elastic besides has JIT (Just In Time) protection, truthful LPs volition person their net amended protected and bask a amended bid of mind.

Lido Pools connected 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 database of eligible pools for Yield Farming tin beryllium viewed here.

KyberSwap: Benefits for Lido Ecosystem

For Traders

Best swap rates for stMATIC done DEX aggregation, portion letting users place different tokens adjacent earlier they trend/moon via on-chain metrics

For Liquidity Providers

Concentrated liquidity for stMATIC pairs and immoderate different token, stables and non-stables
Auto-compounded LP (liquidity provider) fees
Bonus liquidity incentives done output farming
Sniping/Just-in-time onslaught extortion to support the net for Lido LPs

For Developers

Dapps tin integrate with KyberSwap’s pools and aggregation API to supply the champion rates for their ain users, redeeming clip and resources.

KyberSwap is arrogant to spouse with Lido Finance successful this inaugural to heighten liquidity connected Polygon for the payment of each 3 ecosystems.

KyberSwap volition besides beryllium moving with Lido Finance successful their enlargement to layer-2 scaling services.

KyberSwap x Polygon Trading Contest

In summation to Lido Yield Farms, KyberSwap is besides moving a Trading Contest exclusively connected Polygon Chain with a $28,000 USDC rewards excavation for 500 winners from 16th Aug ~03:00 UTC to 30th Aug ~15:59 UTC. Traders request to commercialized a minimum of

$50 to suffice and tin presumption their ranked positions connected the Trading Leaderboard. Further details tin beryllium recovered connected the KyberSwap Campaigns page.

About Kyber Network

Kyber Network is gathering a satellite wherever immoderate token is usable anywhere.

KyberSwap.com, our flagship Decentralized Exchange (DEX) aggregator and liquidity platform, provides the champion rates for traders successful DeFi and maximizes returns for liquidity providers.

KyberSwap powers 100+ integrated projects and has facilitated implicit US$9.9 cardinal worthy of transactions for thousands of users since its inception. Currently deployed crossed 12 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom,

Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.