Avalanche Rush Phase-2 Starts on KyberSwap With $1M in Rewards!

Avalanche fans can rejoice as KyberSwap begins Phase-2 of our liquidity mining with ~$1M in rewards!

Seven months ago, KyberSwap deployed on Avalanche Network and started our collaboration with Avalanche Foundation, with Phase 1 generating great success in providing improved liquidity and rates for Avalanche’s DeFi ecosystem and allowing Kyber Network to kick-start collaborations with popular ecosystem projects!

Now, we are excited to announce the long-awaited Phase 2 of our Avalanche Liquidity Mining is ready to launch.

Starting from 21 March, 2022 09:00 EDT, liquidity providers can add any amount of liquidity to the eligible pools on KyberSwap on the Avalanche Network and unlock their share of the ~$1M in AVAX and KNC liquidity mining rewards over the next 4 months.

What is Avalanche?

Avalanche is an open, programmable smart contracts platform with high throughput and near-instant transaction finality.

Its high performance has led Avalanche to become a popular, rapidly growing venue for DeFi Dapps and NFTs. KyberSwap will continue to play a vital role in providing critical liquidity infrastructure for the thriving DeFi ecosystem on Avalanche.

“Enhancing liquidity opportunities is a key factor in growing the DeFi ecosystem and welcoming new participants into the community. We support Kyber’s vision to deliver a sustainable liquidity infrastructure and welcome their protocol to establish a more valuable ecosystem on Avalanche.” – Emin Gün Sirer, Director at the Avalanche Foundation.

Why use KyberSwap?

Liquidity providers on KyberSwap enjoy important benefits that are not available on typical AMMs.

DEX Aggregation

Get better rates on BSC compared to trading on individual DEXs. This is possible via our Dynamic Trade Routing feature which aggregates liquidity from multiple DEXs, including our capital-efficient KyberSwap pools!

Amplified Liquidity Pools

Liquidity providers use amplified pools that enjoy excellent capital efficiency with reduced trade slippage.

With the same pool and trade size, stable token pairs with low variability in the price range (e.g. USDT/USDC) can enjoy up to 400 times better slippage compared to other platforms.

Liquidity providers can provide better prices and earn more fees with less capital.

Dynamic Fees

Protocol fees are adjusted dynamically based on market conditions to maximize returns and reduce the impact of impermanent loss for liquidity providers, with fees automatically accruing from transactions in the pool.

Fully permissionless

Anyone can create a pool or add liquidity to existing pools; while any Dapp, DEX aggregator, or end user can access this liquidity.

KyberSwap is already integrated with 1inch, Paraswap, 0x, Matcha, and Slingshot, with more aggregators and Dapps on the way.

Reliable and Secure

KyberSwap’s codebase has been audited by external auditors such as Chain Security and is open source on Github for community review.

KyberSwap doesn’t use 3rd-party oracles so it is not vulnerable to external oracle risks. KyberSwap is also covered up to $20 Million by decentralized insurance provider Unslashed Finance.

Rainmaker on Avalanche Network:

KNC and AVAX tokens worth approximately $5.8M have been allocated as incentives as part of the Rainmaker + Avalanche Rush Liquidity Mining Program.

The initial plan is to have ~$1M allocated to Phase 1 and the remainder allocated to Phase 2.

However after deep discussion between the teams and feedback from the community, it was decided that Avalanche Rush would be extended, with another ~$1M allocated to Phase 2 and the remainder set aside for Phase 3.

Phase 2 will start on ~21st March 09:00 EDT with ~$1M in AVAX and KNC incentives distributed across 4 pools.

Important Details:

Start: ~21st March 09:00 EDT
Duration: 4 months
Reward: ~$300K in $AVAX and ~$750K in $KNC incentives
Pools: USDC.e-USDT | USDT.e-USDT | ETH.e-WAVAX | KNC-WAVAX
Campaign Duration: ~4 months
Vesting: USDC.e-USDT: ~60 days | USDT.e-USDT: ~60 days | ETH.e-WAVAX: No vesting | KNC-WAVAX: No vesting
KNC Token Contract (Avalanche): 0x39fC9e94Caeacb435842FADeDeCB783589F50f5f

How to Participate in Rainmaker?

Bridging Assets to Avalanche: Ethereum assets can be easily migrated via the Avalanche Bridge (AB), a cross-chain bridging technology that transfers assets between blockchains.

Use the Avalanche Bridge to transfer ERC20 assets to your Avalanche C-Chain (Mainnet) Metamask wallet.

After bridging assets, they will be displayed as asset.e (ex. WETH.e, USDT.e); and users will have to add custom token addresses to display them in Metamask wallet.

Please see all addresses of all supported assets on the proof of assets page.

How to Farm $AVAX and $KNC

Visit kyberswap.com
Make sure you are on the Avalanche network and have some AVAX tokens for gas transaction fees on Avalanche.
Visit the Pools page and add liquidity into the eligible pools. Eligible Rainmaker pools are identifiable by a raindrop ? icon. You will receive Liquidity Provider (LP) tokens representing your pool share after you add liquidity.
Next, go to the Farm page and click Approve on the farm you wish to add liquidity to. Once approved, stake your LP
tokens on the farm and you will start receiving AVAX and KNC rewards, which can be harvested anytime.
Harvest your rewards whenever you want. When you harvest rewards, a 60-day vesting period starts, with rewards unlocking at every block.
Go to the Vesting tab to claim rewards once they are unlocked. Claim all unlocked KNC rewards after 14-60 days (vesting starts each time you harvest rewards). Unlocked rewards can be claimed anytime.
To remove liquidity, first, unstake your LP tokens on the Farm page, then go to the My Pools page to view and remove your liquidity position. For more details, read this guide on how to remove liquidity. Watch our Tutorial Video for detailed instructions on Yield Farming! This video example is on Ethereum, but the steps are similar on Avalanche Network.

Learn more about Avalanche

Website | Developers | Twitter | Telegram | Discord

About Kyber Network

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

KyberSwap powers 100+ integrated projects and has facilitated over $7B worth of transactions for thousands of users since its inception.

Currently deployed across 9 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Source: https://beincrypto.com/avalanche-rush-phase-2-starts-on-kyberswap-with-1m-in-rewards/