KyberSwap announces partnership with BitTorrent Chain (BTTC) to scale multi-chain DeFi, with 4 months of liquidity mining & incentive rewards.
Kyber Network and BitTorrent have announced the KyberSwap’s integration with BitTorrent Chain (BTTC) as their 11th chain integration, with more than $1.5Min liquidity mining and trading incentives available to users immediately.
The partnership will accelerate DeFi’s adoption with the combined benefits of best trading and earning rates, ease of use, security and multi-chain capabilities.
For those of you lucky enough to have tuned in with our AMA with BTTC on 16th Mar, you would’ve heard the first hand juicy details about our partnership and exciting activities we have planned to commemorate! If you’ve missed out, fret not! We’ve recorded the AMA here so that our Kyberians won’t miss a thing!
More recently, Kyber Network was also hosted on Around the Block (ATB), a podcast series by TRON DAO Youtube channel, where we chatted about the KyberSwap/BitTorrent collaboration, the present and future of multi-chain and cross-chain interoperability! Catch the replay here!
Everything a Chain Needs in 1 DEX
KyberSwap is the leading multi-chain DEX and is the place to trade and earn the best rates in all of DeFi. Pioneer of concepts such as wrapped BTC (WBTC) and Dynamic Market Making (DMM), KyberSwap is announcing its 11th chain integration with BitTorrent Chain. Existing chain integrations are Ethereum, Avalanche, Polygon, BNB, Cronos, Fantom, Arbitrum, Velas, Aurora, and Oasis Emerald. As of March 2022, KyberSwap was the #7 DEX in terms of TVL growth and facilitated over US$8B of trading volume.
As one of the first DEXs to be integrated onto BTTC, KyberSwap provides everything an interoperability chain needs in a DEX along with a comprehensive set of Liquidity Pools, eliminating the need for any other DEXs or aggregators.
Will KyberSwap become the de-facto DEX with the most liquidity and swaps on BTTC and cross-chain bridging with Ethereum, BNB chain and Tron network? The partnership certainly hopes so.
What is BitTorrent Chain (BTTC)?
Already a household name around the world, BitTorrent is an EVM cross-chain protocol designed, which adopts PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts on Ethereum, TRON and BNB Chains. For next 4 months, users of KyberSwap and BTTC can participate in more than US$1.5M of liquidity mining incentives, with monthly trading competitions, community giveaways, and an exclusive airdrop for all users who participate on-chain with KyberSwap.
To use BTTC features, users need to download/add extension wallets and connect the account address to BTTC. BTTC now supports two wallet extensions, TronLink and MetaMask. However, do take note that KyberSwap currently only supports Metamask. To learn how to connect your MetaMask Wallet to BitTorrent Chain, read this guide.
Why Add Liquidity on KyberSwap?
KyberSwap gives liquidity providers (LPs) the opportunity to maximize returns with the best trading rates and attractive incentives and yields.
- Amplified Liquidity Pools with extremely high capital efficiency; less tokens required to achieve better liquidity and rates compared to AMMs.
- Dynamic Fees that react to market conditions and optimize returns for LPs.
- Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.
- Fully Permissionless: Anyone can easily add liquidity for any token pair to KyberSwap pools, while any taker (e.g. Dapp, aggregator, or end user) can access this liquidity.
- No Centralized Oracle: No third-party or centralized price feed oracle risks. Oracles refer to a middle software that share of info between non-blockchain sources and blockchain sources (middle software that connects blockchain to the outside world)
With KyberSwap, BTTC users can trade and earn with best rates and access the full spectrum of multi-chain DeFi capabilities.
And that’s not all! Even more integrations, features, and rewards will be coming up soon!
KyberSwap SURE-WIN Trading Competition
To kick off this exciting partnership, KyberSwap is holding a Sure-Win Trading Contest with a $30,000 KNC reward pool!
From ~21st (7am UTC) to 30th Apr (11pm UTC), simply perform any token swap on BTTC to get your share of the rewards pool!
How to win:
Step 1: Visit kyberswap.com
Step 2: Ensure you are on the BitTorrent Chain and that you have some BTT tokens in your wallet for gas fees.
Step 3: Perform ANY token swap. Minimum trade volume is $100.
*All trades must be carried out on kyberswap.com.
**All traders should be aware of the risks associated with token price volatility. Some token prices may fluctuate more than others, resulting in prices differences over time.
***All decisions by the KyberSwap team are FINAL.
Gleam Giveaway
In our upcoming Gleam Campaign, we’ve also got $200 KNC to give away to 5 lucky winners! All you have to do is follow some simple tasks and 5 lucky winners will be selected at random to win $40 each in KNC!
Full details will be announced at a later date, so stay tuned to our announcements so you don’t miss out!
Liquidity Mining with BTTC
Saving the best for last and putting the cherry on top of this amazing partnership, BitTorrent will be enhancing liquidity on KyberSwap with a $1.5M liquidity mining campaign!
Starting from ~21st April SGT, liquidity providers can add any amount of liquidity to the eligible pools on KyberSwap on BTTC to unlock their share of $1.5M in BTT and KNC rewards over the next 4 months.
BTTC farms on KyberSwap will be allocated over $1.5M in BTT and KNC rewards over a period of 4 months. The following farms listed below will go live on Thursday, April 21 2022 at 20:00 GMT+8.
PS: 8 additional BTTC farms listed below were launched on Friday, May 6 2022 at 20:00 GMT+8. Please see below for further details.
How to Bridge Assets to BTTC?
To move your assets from Ethereum, BNB chain or Tron network to BTTC, simply use the BitTorrent Bridge. The entire process is fast and simple! You may refer to this handy guide below to learn how!
As an added bonus, bridge any amount of assets using the BitTorrent Bridge and receive 300BTT! This airdrop will only be applicable ONCE per wallet.
*Do take note that gas fees on BTTC are in BTT tokens.
Important Details:
Start: ~21st April, 20:00 GMT+8
Duration: 4 months
Pools:
- USDT_t-USDT_b (AMP 200)
- USDT_t-USDT_e (AMP 200)
- TRX-USDT_t (AMP 1.5)
- WBTT-USDT_t (AMP 1.5)
- WBTT-TRX (AMP 1)
- KNC_e-ETH (AMP 2.1)
- KNC_b-USDT.b (AMP 1.5)
Additional Pools:
Start: ~6th May, 20:00 GMT+8
Duration: 4 months
Pools:
- USDC_t-USDC_b (AMP 200)
- USDC_t-USDC_e (AMP 200)
- ETH-WBTC_e (AMP 5.1)
- WBTT-BNB (AMP 1.2)
- WBTT-ETH (AMP1.5)
- USDC_e-ETH (AMP 5.1)
- USDC_t-USDT_t (AMP 200)
- USDD_t/USDT_t (AMP 200)
Vesting: No vesting
Token Glossary:
- BNB: BNB from BNB network that has been bridged to BitTorrent Network.
- BTT: BTT from TRON network that has been bridged to BitTorrent Network.
Native token gas token of BTTC. - ETH: ETH from Ethereum network that has been bridged to BitTorrent Network.
- KNC_b: KNC from BNB network that has been bridged to BitTorrent Network.
- KNC_e: KNC from Ethereum network that has been bridged to BitTorrent Network.
- TRX: TRX from TRON network that has been bridged to BitTorrent Network.
- USDC_b: USDC from BNB network that has been bridged to BitTorrent Network.
- USDC_e: USDC from Ethereum network that has been bridged to BitTorrent Network.
- USDC_t: USDC from TRON network that has been bridged to BitTorrent Network.
- USDT_b: USDT from BNB network that has been bridged to BitTorrent Network.
- USDT_e: USDT from Ethereum network that has been bridged to BitTorrent Network.
- USDT_t: USDT from TRON network that has been bridged to BitTorrent Network.
- WBTC_e: WBTC (Wrapped Bitcoin) from Ethereum network that has been bridged to BitTorrent Network.
- WBTT: Wrapped BTT on BitTorrent Network.
Value is 1:1 with BTT.
Used to interact with smart contracts.
How to Farm $BTT and $KNC:
- Visit kyberswap.com
- Make sure you are on the BTTC network and have some BTT tokens for gas transaction fees.
- 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 BTT and/or KNC rewards, which can be harvested anytime.
- Harvest your rewards whenever you want. There is no vesting period.
- Go to the Vesting tab to claim rewards once they are unlocked. 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 BitTorrent Network.
About BitTorrent Chain:
BitTorrent Chain (BTTC) is the world’s first heterogeneous cross-chain interoperability protocol, which adopts PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts. It now enables interoperability with the public chains of Ethereum, TRON and BSC
Compatible with EVM, BitTorrent Chain facilitates the seamless transfer of assets across mainstream public chains
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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 US$7 billion worth of transactions for thousands of users since its inception. Currently deployed across 11 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis and BitTorrent.
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