Kyber with Polygon Liquidity Farm

liquidity farming
from 30 Jun 2021 to 30 Sep 2021
Event Info

Beginning on 30th June, the Rainmaker program will distribute an estimated total of $30M in rewards over the course of 3 months to eligible Kyber DMM liquidity providers (LPs). The aim is to incentivize liquidity providers and developers to use Kyber DMM by providing high yield on eligible token pairs, and in the process enhance liquidity for both the Polygon and Ethereum DeFi ecosystems.

Liquidity providers receive DMM LP tokens (representing their liquidity pool share) which they can stake in the eligible liquidity mining pools to earn additional KNC or MATIC (Kyber’s and Polygon’s governance tokens) rewards on top of protocol fees during the program period.

1. Liquidity Mining on Polygon

The Polygon phase of the program will run for 2 months. As part of our partnership, Kyber and Polygon will be distributing 2.52M KNC tokens (~$5M) and $500,000 worth of MATIC tokens respectively across six eligible amplified pools:

  • USDT-USDC (AMP=200)
  • USDC-ETH (AMP=1.6)
  • USDC-DAI (AMP=200)
  • MATIC-DAI (AMP=1.5)
  • KNC-ETH (AMP=1.9)
  • KNC-MATIC (AMP=1.7)

KNC and MATIC rewards can be used to add liquidity to the KNC or MATIC pools to earn even more rewards. In addition, KNC can be staked on KyberDAO to participate in Kyber’s governance and earn voting rewards.

2. Liquidity Mining on Ethereum

The Ethereum phase of the Rainmaker program will run for 3 months and 12.6M KNC (~$25M) in rewards will be distributed across five eligible amplified liquidity pools:

  • USDT-USDC (AMP=200)
  • USDT-ETH (AMP=1.5)
  • USDT-WBTC (AMP=1.5)
  • WBTC-ETH (AMP=2)
  • KNC-ETH (AMP=1.9)

More details on Rainmaker will be shared soon closer to June 30th!