Avalanche Doubles Down on Meme Coins: Announces $1 Million Liquidity Mining Incentives Program

March 23, 2024 Bitcoin.com

Ethereum Users Flock to Optimism for Aave Liquidity Mining Launch

August 5, 2022 The Crypto Briefing

FBI Warns Crypto Owners Not to Fall for ‘Liquidity Mining Scam’

July 26, 2022 Bitcoin.com

izumi Finance Raises $2.1M to Innovate Liquidity Mining with Uniswap V3 LP Tokens

November 10, 2021 The Crypto Briefing

Sushi Launches $12.6M Liquidity Mining Program on Celo

October 13, 2021 The Crypto Briefing

Fantom Jumps 36% on Geist Finance DeFi Launch

October 7, 2021 The Crypto Briefing

Kyber expands to Polygon, announces $30M ‘Rainmaker’ liquidity mining program

June 16, 2021 Coin Telegraph

Kyber expands to Polygon, announces M ‘Rainmaker’ liquidity mining program

Coin Telegraph

The Kyber Network is set to float a $30 million liquidity mining program on both Ethereum and Polygon pools.

Decentralized finance liquidity hub Kyber Network is set to become the next DeFi protocol to enter the expanding Polygon ecosystem.

In a statement issued on Wednesday, Kyber announced the launch of Rainmaker, a liquidity mining program on the platform’s Dynamic Market Maker protocol that will commence on June 30 to mark Kyber’s expansion to Polygon.

According to the announcement, the Rainmaker program will distribute $30 million in rewards to liquidity providers on the Kyber DMM across both Polygon and Ethereum.

Of the total reward pool, 12.6 million Kyber Network Crystal (KNC) — about $25 million — will be distributed to liquidity providers (LPs) on selected Ethereum-based amplified pools. The remaining 2.52 million KNC — about $5 million — will be for LPs on Polygon-based amplified pools.

These rewards be will in the form of KNC and of Polygon's MATIC tokens, which can also be staked to provide liquidity on KNC and MATIC pools to compound reward earnings. Rainmaker reward earners who receive KNC can also stake some on the KyberDAO to participate in governance activities thereby earning additional voting rewards.

According to the announcement, the Polygon phase of the Rainmaker liquidity mining program will run for two months, while that for Ethereum will take place over three months — starting June 30 for both.

Apart from the $5 million worth of KNC, Kyber is also contributing $500,000 in MATIC “coins” for the Rainmaker liquidity mining program.

For Kyber, Rainmaker will help to further expand Polygon’s growing liquidity. Indeed, DeFi projects continue to establish a presence on Polygon amid a broader push for multichain strategies and greater overall scalability.

Detailing the importance of the Kyber DMM and Polygon partnership, Kyber Network CEO Loi Luu told Cointelegraph: "Kyber’s vision is to deliver a sustainable liquidity infrastructure for DeFi, and this also extends to fast-growing ecosystems such as Polygon," adding:

"This Polygon partnership and the $30M Rainmaker liquidity mining program will help showcase the powerful benefits of the Kyber DMM protocol and is an important step towards greatly boosting liquidity for DeFi, as well as growing the number of users, developers, and Dapps in the Kyber and Polygon ecosystems."

Polygon usage continues to skyrocket triggering significant integration efforts by DeFi primitives. Back in May, 0x — a liquidity bridge for decentralized exchanges (DEXs) — announced an API tool for Ethereum-based DEXs like SushiSwap, mStable and Dfyn to interact with the Polygon ecosystem.

Ren — a cross-chain liquidity protocol — has also created a bridge to allow porting of Ren-based wrapped tokens to the Polygon network.

Balancer Launches Yield Farming Campaign With Latest Upgrade

May 11, 2021 The Crypto Briefing

Uniswap V3 Offers Far Higher Exposure, Lower Risk For Staking

March 23, 2021 The Crypto Briefing

Uniswap has revealed an overview of V3 of the DEX which is due to launch on May 5, described by Uniswap as “the most flexible and capital-efficient AMM ever designed.” V3 will also launch separately on the L2 Optimism solution.

User Capital Now Goes 4000 Times Farther

Uniswap accounts for 20% – 25% of all daily transactions on the Ethereum network, and V2 has handled $135 billion in volume in the year since its launch.

DeFi users have flocked to the DEX giant to stake their capital and earn rewards, and in May, they will be able to significantly raise their exposure with lower downside risk.

V3 introduces concentrated liquidity and multiple fee tiers, allowing liquidity providers (LPs) control over the price ranges their capital is allocated to as well as compensation rising with higher risks taken by LPs.

“By concentrating their liquidity, LPs can provide the same liquidity depth as v2 within specified price ranges while putting far less capital at risk.”

3/

Uniswap v3’s groundbreaking new feature is Concentrated Liquidity positions

Rather than being required to allocate capital across the entire price spectrum from 0 to infinity, each LP is given full control over what price ranges they wish to provide liquidity to pic.twitter.com/AOCm340YI9

— Uniswap Labs 🦄 (@Uniswap) March 23, 2021

LPs will be able to provide capital with up to 4000x capital efficiency compared to V2, offering low-slippage trade execution superior even to centralized exchanges, according to the announcement.

Is Uniswap V3 Cheaper to Use?

With gas fees near all-time highs, retail users have been squeezed out of Uniswap along with all other Ethereum protocols in recent months, with individual transaction fees north of $70.

The new updates were mostly focused on trade execution and capital efficiency, rather than reduced fees, as fees will ideally be reduced and stabilized by upcoming scaling solutions for the Ethereum network.

However, the Uniswap announcement states that V3 will come with “slightly” cheaper gas fees along with the other features. Transactions made on the L2 Optimism deployment, however, will be “significantly cheaper!”, according to the Uniswap team. Uniswap oracles will also be cheaper and easier to integrate.

While fees will remain high by historical levels for the near term, the new update is nevertheless a game-changer for the staking community.

Advancements such as these in Ethereum-based DeFi could well spell the beginning of the end for competing efforts being built on Binance Smart Chain and other networks.

Liquidity Mining

User Capital Now Goes 4000 Times Farther

Is Uniswap V3 Cheaper to Use?

Share this video