Ho Chi Minh City, Vietnam, March 22, 2023 – Since its launch in 2021, Arbitrum has emerged as one of the most promising Ethereum Layer 2 scaling solutions, enabling faster and cheaper transactions.
On March 16, Arbitrum announced plans to distribute a new governance token, ARB, to its authorized users of the Arbitrum ecosystem as part of its transition, noting that the project “leads the way as the first Layer 2 to enable self-executing governance.” to introduce”.
This airdrop, which is expected to go live on March 23, is set to be one of the largest airdrops in crypto history.
KyberSwap was among the protocols whose users bridged to Arbitrum and performed swaps on the platform, making them eligible for the ARB token airdrop.
KyberSwap – a leading Decentralized Exchange (DEX) aggregator and liquidity platform – will launch the first-ever ARB token liquidity pools, liquidity mining and trading campaigns on the Arbitrum blockchain. These moves mark significant advances for KyberSwap as they will help catalyze significant inflows of liquidity; This will increase the total value (TVL) and create more earning opportunities in the fast-growing Arbitrum ecosystem.
With the introduction of ARB liquidity pools, KyberSwap users now have access to more trading pairs and liquidity options. Liquidity providers will also have more opportunities to earn fees and rewards by adding liquidity to ARB pools and participating in KyberSwap’s liquidity reduction programs.
The following ARB pools are eligible for Liquidity Mining Bounty:
token pairs
- ARB/ETH (2%)
- April ARB/ETH (5%)
- ARB/USDT (2%)
- ARB/USDT (2%)
- ARB/KNC (5%)
An estimated total of 70,000 Kyber Network Crystal v2 (KNC) have been allocated as reward incentives.
*Incentives may continue after the designation period expires; to be confirmed at a later date.
Greater flexibility with new fee levels
With these highly anticipated yield farms, KyberSwap is introducing new fee tiers of 2% and 5%, beating the current highest offering of 1%. These new fee tiers offer ARB farmers the opportunity to take advantage of the expected high volatility and trading volume during the post-airdrop pricing phase. These pools offer excellent returns on top of the farming rewards. As a liquidity protocol that multiple DEXs and aggregators have seamlessly integrated, KyberSwap is well positioned to meet full-chain trading needs not found at other competitors.
Victor Tran, CEO and oo-founder of KyberSwap said:
“We are excited to launch the first-ever ARB liquidity mining pools. These farms mark the start of a massive Arbitrum-centric campaign that KyberSwap has planned, and we’ll be announcing more rewards and activities for both liquidity pools and traders soon. Additionally, traders can set their prices to buy or sell ARBs using our limit order feature and trade at the optimized rates using our aggregator.”
Other Arbitrum Yield Farms on KyberSwap
Aside from the upcoming ARB farms, there are other Arbitrum based yield farms available on kyberswap.com:
Depending on the success of ARB trade volume, the KyberSwap team is planning additional post-launch rewards for traders and liquidity providers, including ARB and KNC airdrops, as well as non-fungible token commemorative rewards.
According to Nansen, Arbitrum was one of the fastest growing blockchains in 2022, with more than $1.1 billion in its ecosystem and a rapid increase in transaction volume – the Layer 2 scaling solution gained massive traction over the year.
*Arbitrum Active Addresses/Transactions
The ARB token liquidity pools, liquidity mining and trading campaigns will be live on KyberSwap shortly, further details and instructions will be provided on KyberSwap’s Twitter and kyberswap.com.
About KyberSwap
Kyber Network is building a world to make decentralized finance (DeFi) accessible, secure and rewarding for users. Its flagship product, KyberSwap, is a next-gen DEX aggregator that offers optimized rates for traders and returns for liquidity providers in DeFi.
For liquidity providers, KyberSwap has a range of capital-efficient protocols designed to optimize rewards. KyberSwap Classic protocol is DeFi’s first market maker protocol that dynamically adjusts liquidity pool fees based on market conditions, while KyberSwap Elastic is a tick-based automated market maker with concentrated liquidity, customizable fee tiers, reinvestment curve and other advanced features, specifically designed to provide liquidity bundles the flexibility and tools to take your earning strategy to the next level without compromising on security.
KyberSwap supports more than 100 integrated projects and has facilitated over $15 billion worth of transactions for thousands of users since its inception.
KyberSwap is currently deployed on 13 chains including Ethereum, Polygon, BNB Chain, Avalanche, Fantom, Cronos, Arbitrum, BitTorrent, Velas, Aurora, Oasis, Optimism, and Solana. KyberSwap aggregates liquidity from over 80 DEXs to provide users with the best possible exchange rates.
Contact
marketing specialist
Tanya Heu
CyberSwap
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