KyberSwap, a leading decentralized exchange aggregator and liquidity platform, is pleased to announce the launch of the first-ever $ARB token liquidity pool, trading campaign and liquidity mining on Arbitrum.
The $ARB token is a governance token created for the Arbitrum blockchain, a Layer 2 scaling solution. Since its inception, Arbitrum has gained massive traction and has become one of the fastest growing blockchains, with over $1.1 billion in its ecosystem.
Notably, on March 16, Arbritum announced its plans to airdrop $ARB to eligible users within its ecosystem. The Arbitrum team stated that the airdrop being conducted as part of the project transition will go live on March 23, in what the team called “the largest airdrop in cryptocurrency history.”
KyberSwap allowed users to bridge to the Arbitrum platform where they performed swaps, making KyberSwap eligible for the airdrop.
Commenting on the $ARB liquidity pools, Victor Tran, CEO and co-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 LPs and traders soon. Additionally, traders can set their prices to buy or sell $ARB using our limit order feature and trade at the optimized rates using our aggregator.”
According to the KyberSwap team, the $ARB liquidity pools will offer users more trading pairs and liquidity options. In addition to the launch, KyberSwap plans to offer fees and rewards to liquidity providers who add liquidity to the $ARB pool and participate in liquidity removal programs.
KyberSwap also introduces new tiers, namely 2% and 5% fee tiers. Currently, KyberSwap’s current top bid is 1%. According to the team, these new levels will provide opportunities for $ARB farmers to take advantage of the expected high volatility and trading volume.
The team has allocated around 70,000 KNC, the native tokens on the platform, as reward incentives. ARB pools eligible for liquidity mining rewards include ARB-ETH (2%), Apr ARB-ETH (5%), ARB-USDT (2%), ARB-USDT (2%) and ARB-KNC (5%). ).
The move reportedly positions the project strategically, allowing the KyberSwap team to help increase liquidity flow to Arbitrum. This results in an increase in the Total Value Locked (TVL) of the project. Additionally, increased liquidity will create more earning opportunities within the Arbitrum ecosystem.
Finally, the KyberSwap team will add post-launch rewards for liquidity providers and traders depending on the success of $ARB trade volume. This may include $KNC and $ARB airdrops and souvenir NFT rewards.
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