KyberSwap, the decentralized exchange (DEX) aggregator and liquidity platform, has announced that it is launching the first-ever liquidity pools, liquidity mining and trading campaigns for the $ARB token on the Arbitrum Chain. Arbitrum, Ethereum’s Layer 2 scaling solution, has quickly garnered attention as a forward-looking Layer 2 solution due to its ability to increase Ethereum’s transaction throughput while reducing transaction costs.
Participants in the $ARB Airdrop include users of the KyberSwap protocol who have bridged to Arbitrum to complete swaps on the platform. KyberSwap expects its TVL to increase as a result of the influx of new funds from the Arbitrum ecosystem. In return, those who participate in the Arbitrum ecosystem have access to more earning opportunities on KyberSwap.
The latest development follows an announcement by Arbitrum on March 16 that it will be airdropping a new governance token, $ARB. The airdrop, expected on March 23rd, will transform Arbitrum into a self-managed DAO and is one of the most anticipated airdrops.
KyberSwap $ARB Liquidity Pool and Incentive Strategy
Part of the Kyber network, KyberSwap is an aggregator for decentralized exchanges (DEX). It offers rates optimized for traders and rewards designed for liquidity providers in DeFi. KyberSwap has powered more than 100 integrated projects and processed over $15 billion worth of transactions for thousands of clients.
KyberSwap users have more trading alternatives and more liquidity available with the introduction of $ARB liquidity pools. By providing liquidity to $ARB pools and participating in KyberSwap’s liquidity mining activities, liquidity providers have more opportunities to earn fees and rewards.
Earnings from using ARB liquidity provision range from 2% to 5% and the $ARB token is paired with ETH, USDT and KNC. In the post-airdrop period, when highly volatile prices and high trading volumes are expected, $ARB farmers can benefit from the new fee structures.
Kyber Network has allocated an estimated total of 70,000 of its natives as reward incentives. Details and instructions on how to participate in the $ARB token liquidity pools, liquidity mining and trading campaigns will be made available on KyberSwap’s Twitter page and website in the coming days.
The income rates for these pools are significantly higher as they have been raised from 1%. KyberSwap will be announcing more awards and events for both liquidity providers shortly, and these farms are just the beginning of a lengthy campaign focused on arbitrum.
This post was last modified on 22 Mar 2023 11:50 GMT 11:50
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