March 22, 2023 – Ho Chi Minh City, Vietnam
Since launching in 2021, Arbitrum has emerged as one of the most promising layer two solutions with its ability to scale Ethereum and enable faster and cheaper transactions.
On March 16, 2023, Ethereum layer two scaling solution Arbitrum announced plans to distribute a new governance token ARB to its eligible Arbitrum ecosystem users as part of its transitionnoting that the project is “leading the way as the first [layer two] to launch self-executing governance.”
This airdropestimated to go live on March 23, 2023, is set to be one of the biggest airdrops in crypto history.
KyberSwap was among the protocols whose users bridged to Arbitrum and conducted swaps on the platform, thereby becoming eligible for the ARB airdrop.
KyberSwap, a leading DEX (decentralized exchange) aggregator and liquidity platform, will launch the first-ever ARB token liquidity pools, liquidity mining and trading campaigns on the Arbitrum Chain.
These moves mark significant steps forward for KyberSwap, as it will assist to catalyze significant liquidity inflows, thus increasing TVL, and provide more earning opportunities in the rapidly growing Arbitrum ecosystem.
With the launch of the ARB liquidity pools, KyberSwap users will 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 the ARB pools and participating in liquidity mining programs by KyberSwap.
The following ARB pools will be eligible for liquidity mining rewards.
- Apr ARB-ETH
An estimated total of 70,000 KNC has been allocated as reward incentives. Note that incentives may continue after the designation duration is overo be confirmed at a later date.
Greater flexibility with new fee tiers
With these highly anticipated yield farms, KyberSwap is introducing new two-percent and five-percent fee tiers, which exceeds their current highest offering of one percent.
These new fee tiers provide opportunities for ARB farmers to benefit from the anticipated high volatility and trading volume during the price discovery phase after the airdrop.
These pools offer superior returns in addition to the farming rewards, and as a liquidity protocol that has been seamlessly integrated by multiple DEXs and aggregators, KyberSwap is well poised to serve the trading needs of the entire chain not found with other competitors.
Victor Tran, CEO and co-founder of KyberSwap, said,
“We are excited to launch the first ever ARB liquidity mining pools. These farms will mark the beginning of an extensive Arbitrum-centered campaign KyberSwap has planned, and we will announce more rewards and activities soon for both LPs and traders.
“Additionally, traders can set their prices to purchase or sell ARB with our limit order function and swap at the optimized rates with our aggregator.”
Other Arbitrum yield farms on KyberSwap
Apart from the upcoming ARB farms, there are other ongoing Arbitrum-based yield farms on the KyberSwap website.
Depending on the success of ARB trading volume, the KyberSwap team is planning additional rewards post-launch for traders and liquidity providers which may include ARB and KNC airdrops and commemorative NFT rewards.
According to Nansen, Arbitrum was one of the fastest-growing blockchains in 2022. With more than $1.1 billion locked in its ecosystem and a rapid increase in transactional volume, this layer two scaling solution gained massive traction during the year.
Source: Arbitrum active addresses and transactions
The ARB token liquidity pools, liquidity mining and trading campaigns are set to go live on KyberSwap soon, with further details and instructions to be provided on KyberSwap’s Twitter and on the website.
Kyber Network is building a world to make DeFi accessible, safe and rewarding for users.
Their flagship product, KyberSwap, is a next-gen DEX aggregator providing optimized rates for traders and returns for liquidity providers in DeFi. For liquidity providers, KyberSwap has a suite of capital-efficient protocols designed to optimize rewards.
KyberSwap Classic’s protocol is DeFi’s first market maker protocol that dynamically adjusts LP fees based on market conditions, while KyberSwap Elastic is a tick-based AMM with concentrated liquidity, customizable fee tiers, reinvestment curve and other advanced features specially designed to give LPs the flexibility and tools to take your earning strategy to the next level without compromising on security.
KyberSwap powers over 100 integrated projects and has facilitated over $15 billion worth of transactions for thousands of users since its inception.
Currently deployed on 13 chains, including Ethereum, Polygon, BNB, Avalanche, Fantom, Cronos, Arbitrum, BitTorrent, Velas, Aurora, Oasis, Optimism and Solana, KyberSwap aggregates liquidity from over 80 DEXs to give users the best rates possible for their swaps.
Tania Hay, marketing specialist at KyberSwap
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
Follow Us on Twitter Facebook Telegram