KyberSwap launches new wave of concentrated liquidity yield farming on Polygon | by CyberNetwork

Farm with $ETH, $USDC, $MAI, $AAVE, $DAI, $LDO, $USDT, $stMATIC, $WTBC and unlock your share of over $130,000 worth of incentives!

Concentrated liquidity mining on KyberSwap Elastic continues 12 more farms to achieve higher capital efficiency and optimized yields for liquidity providers on Polygon!

This first phase of this initiative aims to earn liquidity providers over 120,000 KNC in liquidity mining rewards, with more incentives to come in the near future!

Polygon is a decentralized Ethereum scaling platform that enables developers to build scalable, user-friendly dApps with low transaction fees without ever sacrificing security. Its core component is Polygon SDK, a modular, flexible framework that supports the creation of multiple types of applications.

Polygon offers a variety of modules that allow developers to easily deploy and configure their own custom blockchain. These include consensus and governance modules, as well as a variety of execution environments and virtual machine implementations.

Liquidity reduction with KyberSwap Elastic on Polygon

Starting September 22nd, liquidity providers can choose from 12 eligible pools on KyberSwap Elastic to deepen liquidity on Polygon and receive KNC incentives!

Don’t forget that LPs can enjoy the benefits of concentrated liquidity, automatic compounding, multiple fee tiers and JIT protection on KyberSwap Elastic!

Learn more about KyberSwap Elastic here.

Important Details: Eligible Pools (Fee Level):

*The full list of eligible pools for yield farming on Polygon can be viewed here.

**Eligible pools for yield farming are denoted with a wallet icon.

KyberSwap: Benefits for the Polygon ecosystem

1. For traders

• Best swap rates for USDC, USDT, ETH, DAI, MAI, AAVE, LDO, StMATIC, WBTC and KNC tokens by DEX aggregation while allowing users to identify other tokens even before trend/moon them via on-chain metrics

2. For liquidity providers

• Concentrated liquidity for each token pair, stable and non-stable
• Automatically compounded LP (Liquidity Provider) fees.
• Bonus liquidity incentives through yield farming
• Sniping/just-in-time attack protection to protect revenue for polygon LPs

3. For developers

Dapps can integrate with KyberSwap’s pools and aggregation API to provide the best rates for their own users, saving time and resources.

Summary of the farming process

• Get the tokens you want to add liquidity for on Polygon (USDC, USDT, ETH, DAI, MAI, AAVE, LDO, StMATIC, WBTC, KNC)
• Add liquidity for the eligible Elastic pools and you’ll get an NFT that represents your liquidity position
• Deposit your liquidity position NFT with the Farming Contracts
• IMPORTANT: Use the deposited liquidity position NFT in the farm to get rewards

Full details on farming on KyberSwap Elastic

deposit liquidity

• On KyberSwap, select Earn -> Pools [Elastic Pools]
• Add liquidity to eligible pools at the above fee tiers.
• Enter your deposit amount for the token pair. Approve the tokens if you haven’t already.
• Enter a custom price range in which you wish to provide liquidity by specifying the minimum price and the maximum price of that range. A narrower range gives you higher concentrated liquidity and more fees, while a larger range offers a higher chance that the pool will always be active (and earn yield farming rewards).
• After adding liquidity, you will receive an NFT (non-fungible token) representing your liquidity position. (You can view your liquidity positions on the Earn -> My Pools page.)

Note: While you can deposit both out of reach and within reach liquidity positions, only your within reach liquidity positions will earn you farming rewards.
When your out of reach liquidity position becomes active again and you have already deposited it into the farming contract, you will start earning rewards for that liquidity position as well.
So, when adding liquidity, make sure you enter a minimum and maximum price for your selected token pair that is not out of range!

Mark out

• On the Farm page, select the same farm for which you added liquidity. Click [Deposit] and select your liquidity position NFT (ID number). Click [Deposit Selected]approve and wait for your transaction to be confirmed.
• *IMPORTANT* After you have deposited your liquidity position NFT, click on the [+] Button to stake your deposited NFT.
• Note: If the [+] If the button is disabled, it means that you have not yet deposited your NFT liquidity positions into the farming smart contract. You MUST commit your Liquidity Position NFT to the farm to start earning rewards (earlier deposit of Liquidity Position NFT is not sufficient)..

Harvest and claim rewards

• On the Farm page, click the ax icon to the far right of the farm you want to harvest from, or click the Harvest All button.
• A “Harvest” popup will appear and you can see the rewards you have accumulated so far in terms of total dollar value and in terms of individual tokens. Click on “Harvest”.
• To claim rewards, click [Vesting] on the farm page and click [Claim] button below [Vesting Schedules] to claim the harvested rewards that have been unlocked. If there is no lock-up period, your rewards will unlock immediately after harvesting.

Mark out

• To check off your NFT, just click [-] button on the farm.
• You will see a popup asking you to select the NFT liquidity position you wish to redeem. Make your selection and click [Unstake Selected]. Confirm and wait for your transaction to complete.

For more detailed instructions on how to farm with Elastic pools, go to: https://docs.kyberswap.com/guides/how-to-farm

You can also watch farming tutorials directly on KyberSwap or watch our tutorial video here:

KyberSwap — Trade and Earn at the Best Rates

Bullish on Lido Finance and/or L2 chains? Then stay tuned to our announcements, because we have news for you 😉

About Kyber Network

Kyber Network is building a world where any token is usable anywhere. KyberSwap.com, our flagship Decentralized Exchange (DEX) aggregator and liquidity platform, offers the best rates for traders in DeFi and maximizes returns for liquidity providers.

KyberSwap supports more than 100 integrated projects and has facilitated over $10 billion worth of transactions for thousands of users since its inception. Currently deployed on 12 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.

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