KyberSwap and zkBob’s partnership, which began in November 2022, has gone from strength to strength, marking significant progress along the way. From the initial whitelisting of $BOB to zkBob’s participation in our first launch of KyberSwap’s Trading Grant Program, we are excited to announce yet another significant achievement in our partnership.
KyberSwap and zkBob have already accomplished substantial milestones in our partnership, and we are enthusiastic about continuing to work together to take it to the next level. The selection of KyberSwap as the capital-efficient DEX Aggregator by zkBob is an affirmation of our capabilities and expertise in the field.
By enhancing $BOB liquidity on Polygon and Optimism networks and offering added rewards in $KNC and $BOB liquidity mining, we believe this partnership will provide immense benefits to our users and community. We are committed to collaborating with zkBob to provide innovative solutions that address the evolving needs of the DeFi industry.
About zkBob:
zkBob is a stablecoin-based privacy application deployed on Polygon and designed for everyday users and common use cases. zkBob uses zkSNARKS to anonymize senders, receivers, and amounts when transferring stable funds. Compliance features deter bad actors and illicit usage, giving privacy and safety back to ordinary blockchain users.
zkBob is optimized to work with the $BOB token, a multi-chain stable token (stablecoin) enhanced with optional privacy. Once BOB is deposited into the zkBob pool, participants can transfer any amount of BOB amongst themselves in a private, secure manner without needing to connect MetaMask, WalletConnect or any web3 wallet.
From ~1st Mar 14:00 UTC, liquidity providers can add any amount to our eligible stMATIC-BOB farm on Polygon and/or ETH-BOB farm on Optimism and earn their share of $BOB and $KNC rewards.
Important Details: Eligible Pools (Fee Tier)
Active Farms:
| No | Farming Token Pairs | KNC reward allocation | BOB reward allocation |
| 1 | stMATIC-BOB (1%) | 2,272 | 3,500 |
| 2 | ETH-BOB (0.04%) | 2,272 | 1,500 |
Farming on KyberSwap Elastic
Deposit Liquidity:
- On KyberSwap, under “Earn -> Pools”, select [Elastic Pools]
- Add liquidity to the eligible pools at the fee tiers mentioned above.
- Key in your deposit amount for the token pair. Approve the tokens if you have not done so earlier.
- Input a custom price range in which you would like to provide liquidity by indicating the min price and the max price of that range. A narrower range gives your higher concentrated liquidity and more fees, while a bigger range would give a higher chance of the pool always being active (and get yield farming rewards).
- After adding liquidity, you will receive an NFT (non-fungible token) that represents your liquidity position. (You can view your liquidity positions on the “Earn -> My Pools” page.)
- Note: While you can deposit both ‘Out of range’ and ‘In range’ liquidity positions, only your ‘In range’ liquidity positions will earn you farming rewards.
If your ‘Out of range’ liquidity position becomes active again, and you’ve already deposited it into the farming contract, you’ll start earning rewards for this liquidity position as well.
So make sure when you add liquidity, input a min and max price for your chosen token pair that would not go out of range!
Staking:
- On the “Farm” page, select the same farm you added liquidity for. Click [Deposit] and select your liquidity position NFT (ID number). Click [Deposit Selected], approve and wait for your transaction to be confirmed.
- *IMPORTANT* After depositing your liquidity position NFT, click the [+] button to stake your deposited NFT.
- Note: If the [+] button is disabled, it means that you haven’t deposited your NFT liquidity positions into the farming smart contract yet. You MUST stake your liquidity position NFT in the farm to start accumulating rewards (depositing the liquidity position NFT earlier is not enough).
Harvesting & Claiming Rewards:
- On the “Farm” page, click the “axe” icon button on the far right of the farm you want to harvest from, or the “Harvest All” button.
- A “Harvest” popup will be displayed 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 on [Vesting] on the Farm page and click on [Claim] button under [Vesting Schedules] to claim the harvested rewards that have been unlocked. If there is no vesting period, your rewards are unlocked immediately after harvesting them.
Unstaking:
- To unstake your NFT, simply click on the [-] button on the Farm.
- You will see a popup prompting you to select the liquidity position NFT you wish to unstake. Make your selection and click [Unstake Selected]. Confirm and wait for your transaction to go through.
For more detailed instructions on farming with Elastic pools, please visit: https://docs.kyberswap.com/guides/how-to-farm
You can also view farming tutorials directly on KyberSwap or watch our tutorial video here:
That’s not all!
Learn to Earn with zkBob:
Join our Discord server and take part in our Learn to Earn, where KyberSwap has dedicated this round to Exploring zkBOB!
Details:
Date: Thursday, 2nd March, 8am UTC
Venue: KyberSwap Discord (#learn-2-earn channel)
Topic: Exploring zkBOB
Prize: $300 in $BOB for 20 winners
– Top 10 winners : $200 ($20 each)
– 10 lucky winners: $100 ($10 each, randomly selected from top 50% scorers)
How to Join:
👉 Join our Discord: https://discord.gg/kyberswap
👉 Learn about zkBOB ➡️ https://docs.zkbob.com/
👉 Head to the # learn-2-earn channel & wait for the quiz to start
👉 Answer the 10 quiz questions
Good Luck & happy learning!🧑🎓
