Hello Pets is an open entertainment ecosystem where the community can join in the storytelling and art creation of shared IPs. Opening doors to external NFT collections by involving their holders and community artists to share IPs, create content and products together, Hello Pets’s goal is to be the Disney in Web3, believing that this is a paradigm shift that can fully unleash the potential of the masses.
The PET token is the native token of the Hello Pets ecosystem. It is designed to explore the new expressions in Web3 through art, games, fashion and entertainment, and enable the community to engage in the Hello Pets ecosystem meaningfully.
Hello Pets made an announcement on March 18th that the PET token is now available on the Arbitrum network. Citing advantages of the popular Layer 2 Ethereum network, including lower transaction costs and higher transaction speeds, this move enabled more ease to carry out web3 activities, games and Metaverse events.
KyberSwap was happy to support this move by enhancing liquidity for $PET with 2 pools on Arbitrum; PET-ARB 1% & PET-ETH 1%. Check out our announcement here!
And now, as an added incentive for their community, KyberSwap is excited to announce Hello Pets has incentivised the PET-ETH 1% pool with 60,000 $PET in yield farming rewards!
Why Farm on KyberSwap:
Launched on 7 July 2022, KyberSwap Elastic was a protocol created to redefine liquidity protocols, giving our liquidity providers the flexibility to plan individual earning strategies based on personal risk tolerance while maximising rewards.
Liquidity providers can use Concentrated Liquidity to customise the price range and increase efficiency of liquidity in the Elastic pools. This results in better slippage, volume, and earnings, especially for stablecoin and correlated pairs. LPs can also widen the range for uncorrelated pairs to ensure liquidity during high market volatility.
KyberSwap Elastic also offers several advantageous features, including Auto-Compounding, which enables LPs to earn higher returns by automatically reinvesting fee earnings into a full range reinvestment curve tied to the same liquidity pool, as well as 10 different fee tiers for LPs to select from when providing liquidity, providing greater flexibility in choosing a fee tier that aligns best with their liquidity goals.
Important Details:
The following $PET pool(s) will be eligible for liquidity mining rewards:
Duration | Token Pair | PET Incentives |
6 Apr – 6 June | PET-ETH 1% | 60,000 |
*Incentives may continue after the designation duration is over; to be confirmed at a later date.
Farming on KyberSwap Elastic:
Depositing Liquidity | 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: | *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: | |
Unstaking: |
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:
Remember, liquidity providers on KyberSwap Elastic will only earn fees and rewards while their liquidity position remains In-Range. To maximise your earnings and prevent missing out on potential rewards, subscribe to our Notifications feature to receive alerts whenever your position moves Out-Of or back In-Range.