~6 months ago, KyberSwap expanded to Optimism network. As the twelfth chain to be integrated, the L2 scaling solution provided users with another quick, affordable & safe option for on-chain transactions.
Since then, KyberSwap has welcomed many collaborations from like-minded dApps aiming to strengthen their ecosystems on Optimism. Our partnership with Lido Finance has significantly improved $wstETH tokenomics not just on Optimism, but also Aribtrum and Ethereum.
And now, we’re excited to announce KyberSwap will be strengthening tokenomics for 15 tokens with 17 yield farms on Optimism!
From 20th Jan 2023, add liquidity to any of the eligible farms on KyberSwap Elastic on Optimism and earn your share of KNC rewards!
Don’t forget, with KyberSwap Elastic liquidity providers can enjoy higher capital efficiency and optimised earnings (rewards + fees) with concentrated liquidity and auto-compounding fees.
Important Details: Eligible Pools (Fee Tier)
Active Farms (20th Jan to 20th Feb 2023)
|No.||Farming Token Pairs||KNC Reward Allocation|
Farming on KyberSwap Elastic
- 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!
- 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.
- 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: