Avalanche Rush Phase 2 Starts NOW on KyberSwap with $1M In Liquidity Mining Rewards!

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

7 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 ~21st March 09:00 EDT, liquidity providers can add any amount of liquidity to the eligible pools on KyberSwap on 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 the best rates on Avalanche compared to trading on individual DEXes. This is possible via our Dynamic Trade Routing feature which aggregates liquidity from multiple DEXes including TraderJoe, Pangolin, and 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 maximise 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.

Avalanche Rush Yield Farming

KNC and AVAX tokens worth approximately $5.8 Million have been allocated as incentives as part of the Rainmaker + Avalanche Rush Liquidity Mining Program. $1M have been given out to liquidity providers in Phase 1.

And now another $1M+ have been allocated to Phase 2, with 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
  • Campaign Duration: 4 months
  • Reward: ~$300K in $AVAX and ~$750K in $KNC incentives
  • Pools:
  • 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 Avalanche Rush?

Bridging Assets to Avalanche: Ethereum assets can be easily migrated via the Avalanche Bridge or Multichain.org, cross-chain bridges that transfer assets between blockchains. Use these bridges 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

  1. Visit kyberswap.com
  2. Make sure you are on the Avalanche network and have some AVAX tokens for gas transaction fees on Avalanche.
  3. Visit the Pools page and add liquidity into the eligible pools. Eligible farming pools are identifiable by a green raindrop icon. You will receive Liquidity Provider (LP) tokens representing your pool share after you add liquidity.
  4. 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.

5. Harvest your rewards whenever you want. When you harvest rewards, a vesting period starts (vesting period depends on the token pair), with rewards unlocking at every block.

6. Go to the Vesting tab to claim rewards once they are unlocked. Unlocked rewards can be claimed anytime. Claim all unlocked KNC rewards after the full vesting period.

7. 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.

In addition, check out our $50,000 ‘Sure-Win’ AVAX Trading Contest! From 20–31 March. Details here.

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) aggregator, provides the best rates for traders in DeFi and maximizes returns for liquidity providers.

KyberSwap powers 100+ integrated projects and has facilitated over US$7 billion 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.

KyberSwap | Discord | Website | Twitter | Forum | Blog | Reddit | Facebook |Developer Portal | Github |KyberSwapKyberSwap Docs

. . .

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, provides superior rates for traders in DeFi and maximizes returns for liquidity providers.

KyberSwap powers 200+ integrated projects and has facilitated over US$20 billion worth of transactions for thousands of users across 15 chains since its inception. Full list of supported exchanges and networks available here.

Join our community:

KyberSwap | Twitter | Telegram | Discord | Facebook | Forum | GitHub | Docs | Kyber Network

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