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    Lido Finance Partners With KyberSwap Elastic With $120,000 in Liquidity Mining Rewards

    Lido Finance, a giant in the Ethereum staking world, will be enhancing liquidity on Polygon with KyberSwap Elastic.

    Press Releases

    Lido Finance Partners With KyberSwap Elastic With $120,000 in Liquidity Mining Rewards

    By BeInCrypto Team

    17 August 2022, 06:55 GMT+0000

    Updated by Vignesh Karunanidhi

    17 August 2022, 11:26 GMT+0000

    Lido Finance, a giant in the Ethereum staking world, will be enhancing liquidity on Polygon with KyberSwap Elastic.

    Lido Finance is the largest platform for liquid staking services on Ethereum. Powering DeFi and CeFi applications alike with their technology, Lido Finance empowers stakers to put their staked assets to use on their supported networks: Ethereum, Solana, Polygon, and Polkadot.

    This first phase of this joint initiative is set to bring liquidity providers over $120,000 in liquidity mining rewards, with more incentives to come in the near future.

    Sponsored Sponsored

    What is KyberSwap Elastic?

    KyberSwap’s newest protocol, dubbed Elastic, is a tick-based AMM that gives Liquidity Providers (LPs) the advantages of concentrated liquidity and the flexibility to achieve capital efficiency and manage risks.

    With concentrated liquidity, LPs have the flexibility to supply liquidity to an Elastic pool either by “concentrating” the liquidity to a narrow price range or set to a wider price range.

    Concentrated liquidity would use the pool’s liquidity more efficiently, mimicking much higher levels of liquidity and achieving better slippage, volume, and earnings for LPs while a wider range would ensure liquidity for uncorrelated token pairs such as USDC-ETH would remain active even with big price swings during high market volatility.

    Sponsored

    Sponsored

    KyberSwap Elastic also has a Reinvestment Curve, which compounds fees by automatically reinvesting the fee earnings of LPs back into the liquidity pool so LPs earn higher APYs while saving time.

    LPs on KyberSwap Elastic can also choose from multiple fee tiers to select the best-suited rates for individuals taking into consideration factors such as token volatility, individual risk appetites, etc.

    In addition, KyberSwap Elastic comes with a Just-in-Time (JIT) Attack Protection feature, which protects LP earnings from snipe attacks that would reduce the earnings of other honest liquidity providers. So LPs can earn securely while enjoying peace of mind.

    Sponsored

    Sponsored

    From August 16, 2022, liquidity providers can choose from 5 sMATIC eligible pools on KyberSwap Elastic to deepen liquidity and earn $LDO & $KNC rewards.

    With KyberSwap’s Elastic protocol, LPs can enjoy benefits such as concentrated liquidity and compounding fees, providing higher capital efficiency and optimized rewards.

    KyberSwap Elastic also has JIT (Just In Time) protection, so LPs will have their earnings better protected and enjoy better peace of mind.

    Sponsored

    Sponsored

    Lido pools on KyberSwap Elastic (Polygon)

    Eligible Pools (Fee Tier):

    stMATIC-WMATIC (0.01%)

    USDC-stMATIC (0.04%)

    stMATIC-USDT (0.04%)

    stMATIC-DAI (0.04%) stMATIC-MAI (0.04%)

    *Full list of eligible pools for Yield Farming can be viewed here.

    Sponsored Sponsored

    KyberSwap: Benefits for the Lido ecosystem

    For Traders

    Best swap rates for stMATIC through DEX aggregation, while letting users identify other tokens even before they trend/moon via on-chain metrics

    For Liquidity Providers

    Concentrated liquidity for stMATIC pairs and any other token, stables, and non-stables

    Auto-compounded LP (liquidity provider) fees

    Bonus liquidity incentives through yield farming

    Sniping/Just-in-time attack protection to protect the earnings for Lido LPs

    For Developers

    Dapps can integrate with KyberSwap’s pools and aggregation API to provide the best rates for their own users, saving time and resources.

    KyberSwap is proud to partner with Lido Finance in this initiative to enhance liquidity on Polygon for the benefit of all three ecosystems.

    KyberSwap will also be working with Lido Finance in their expansion to layer-2 scaling services.

    KyberSwap x Polygon trading contest

    In addition to Lido Yield Farms, KyberSwap is also running a Trading Contest exclusively on Polygon Chain with a $28,000 USDC rewards pool for 500 winners from August 16 ~03:00 UTC to August 30 ~15:59 UTC.

    Traders need to trade a minimum of $50 to qualify and can view their ranked positions on the Trading Leaderboard. Further details can be found on the KyberSwap Campaigns page.

    About Kyber Network

    स्रोत : beincrypto.com

    Indonesian GoTo Platform Bought A Crypto Firm For $8.4M

    KyberSwap has made a name for itself in the decentralized finance (DeFi) space due to its novel offerings. Following this same path, the DeFi protocol has

    Indonesian GoTo Platform Bought A Crypto Firm For $8.4M

    by Sarah 2 weeks ago

    The cryptocurrency space seems to be increasing in leaps and bounds as more entry continues. Over the past decade, more people and businesses have joined the train of digital assets. This is primarily due to the high profitability that the assets could offer over other traditional investments.

    It’s no surprise that over the last ten years, the value of most major digital tokens saw over a 3,000% rise. Making such a long-term leap in digital assets could bring an investor a limitless line of profit. But other convention assets such as gold, silver, and even land and houses have not seen such an upward move.

    5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

    Related Reading: LG Unveils App That Enables Users To Buy, Sell NFTs Using Their Smart TV

    Indonesian Tech Leader Joins Crypto Sector

    An Indonesian tech leader, PT GoTo Gojek Tokopedia (aka GoTo), has recently jumped into the digital world. Reuters reported that GoTo’s first step into the crypto space is its acquisition of PT Kripto Maksima Koin, a crypto exchange.

    The most prominent Indonesian tech firm bought 100% of the shares of the digital platform. The payment for the acquisition was 124.84 billion rupiahs, worth about $8.4 million. GoTo noted that its new move was in synchronization, intending to be the country’s hub for diverse money management.

    Recall that 25 crypto firms received license approval from Indonesia’s Commodity Futures Trading Regulatory Agency, Bappebti. Amongst the platforms is PT Kripto Maksima Koin, which now gives GoTO the full operational license for its acquisition.

    BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

    Before now, GoTo predicted that blockchain technology would actively contribute to the future of finance. As a result, the firm embarked on a $1.1 billion fundraising through an IPO in the past few months. Presently, the company has not released any further plans for its move.

    Crypto Interest In Indonesia Is Rising

    For some time, some local Islamic organizations in Indonesia and its central bank have given cold feet to cryptocurrency. However, their stance has never succeeded in quenching the interest of citizens and residents in the digital asset sector. A survey by Gemini revealed that Indonesia is taking the lead in global crypto adoption as it shares the first position with Brazil.

    Before the move from GoTo into the crypto space, other cases of attraction to the industry have been in Indonesia.

    For example, as of 2021, Binance, the world’s crypto exchange, disclosed its partnership with the Hartono brothers, the wealthiest Indonesian family. Their agreement was centered on developing a virtual asset venture in the country.

    Crypto total market cap surges on the daily chart | Source: TradingView.com

    Subsequently, Binance entered into another collaboration with the Indonesian MDI Ventures. The firm is backed by Telkom Indonesia, the largest telecommunication provider in the country.

    Related Reading: Hackers Mess With South Korea’s YouTube Channel To Play Elon Musk Crypto Video

    Binance famous CEO Changpeng Zhao stated that their latest partnership with MDI is an excellent move in the region. He noted that it would assist them in providing leading products suitable for the local market.

    Featured image from Pexels, chart from TradingView.com

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    Sarah

    Sarah is a journalist who continues to share her passion for writing through her writing in DeFi, FinTech, and Cybersecurity.

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    KyberSwap Elastic Vs Uniswap V3: A Comparison

    Since the release of our new protocol, KyberSwap Elastic, we’ve received some commonly asked questions we’d like to address, generally regarding comparison between KyberSwap Elastic and Uniswap V3…

    KyberSwap Elastic Vs Uniswap V3: A Comparison

    KyberSwap Elastic Vs UniSwap V3 Comparison

    Since the release of our new protocol, KyberSwap Elastic, we’ve received some commonly asked questions we’d like to address, generally regarding comparison between KyberSwap Elastic and Uniswap V3 protocol.

    In the interest of openness and transparency, which are two of our core values at Kyber, we would like to address these queries.

    First up:

    1) Uniswap was first to tackle capital efficiency with Uniswap V3.

    No.

    Uniswap V3’s whitepaper was published in March 2021, highlighting concentrated liquidity, flexible fees, etc as ways to improve capital efficiency.

    KyberSwap Classic’s (formerly known as KyberDMM) whitepaper was published in Feb 2021, focusing on our Dynamic Market Maker protocol and Amplification factor as methods to boost capital efficiency.

    Our methods are different on the surface, but our end goals are equivalent. To improve capital efficiency and mitigate the impact of impermanent loss for our LPs.

    Capital efficiency is not a new concept. Other DEXs have their own methods and protocols to increase capital efficiency for their users, such as Curve Finance which also utilizes concentrated liquidity. Kyber has been a pioneer in DeFi just like these projects and we deeply respect their innovations and contributions to the space.

    2) Is KyberSwap Elastic a fork of Uniswap V3?

    Nope!

    For a very simple reason.

    Uniswap V3 source code is under Business Source License 1.1, meaning it is not fully open source. This agreement incorporates copyright law and allows Uniswap governance to restrict unauthorised commercialisation of an entity’s source code for two years. Seeing as Uniswap V3 was announced in 2021, the earliest a dApp can fork Uniswap’s code would only be sometime in 2023.

    https://uniswap.org/blog/uniswap-v3

    So, what is KyberSwap Elastic?

    KyberSwap Elastic was developed with our own original code.

    It is similar to Uniswap V3 in a sense that both are tick-based AMMs with customizable price ranges, and use NFTs to represent liquidity positions.

    That’s all.

    KyberSwap Elastic varies from Uniswap V3 in several ways. Let’s review them:

    KyberSwap Elastic and Uniswap V3 protocol are different in their underlying technologies. Uniswap V3 controls different positions in a pool while Elastic can control different AMM curves in a pool (each AMM curve can have multiple positions).

    KyberSwap Elastic’s protocol maintains more than 1 AMM curve as the same time, in the same smart contract. In Elastic, we have two curves: The Investment Curve and the Re-investment Curve. However, the protocol allows control over multiple curves.

    It is this key difference in our technology that enables Elastic’s Fee Compoundability, which allows liquidity providers to earn more.

    Another key difference is in our Anti JIT / Snipe protection, which is something Uniswap V3 currently does not offer. KyberSwap Elastic protects our Liquidity Providers’ earnings by implementing a very short locking / vesting period (1–2 blocks)

    To sum up, here are the 2 core differences between KyberSwap Elastic and Uniswap V3’s protocol:

    1) Compoundability

    Elastic Vs Uniswap V3: Compoundability

    What Does This Mean?

    The Reinvestment Curve adds convenience for Liquidity Providers as you don’t have to add liquidity manually back into the pool. Separately compounding fees allows LPs to earn more (Fees are accumulated on top of compounded fees)

    Compounding is the process of generating earning on an asset’s reinvested earnings.

    For example, Kelvin adds $1,000 into a KyberSwap Elastic pool. After some time, he earns $100 in fees. His fees are automatically reinvested in the pool, so now he is earning fees based on a position of $1,100 (not the original position of $1,000).

    However, do note that the old Uniswap V2 does compound fees but into your original position. Similar to KyberSwap Classic.

    2) JIT / Snipe Protection

    Elastic Vs Uniswap V3: JIT/ Snipe Protection

    What Does This Mean?

    In a JIT attack, a sniper will detect a large swap incoming from the mempool. So he can “sandwich” this swap with 2 transactions to add and remove liquidity at a very narrow range within the same block. In doing so, the sniper takes almost all the fees generated in the swap while perfectly controlling the Impermanent Loss.

    KyberSwap Elastic’s JIT / Snipe Protection locks our LPs trading fee earnings and quickly vests them based on the LP’s duration of liquidity contribution. So users adding liquidity to KyberSwap Elastic will have their earnings better protected and enjoy a better peace of mind.

    स्रोत : blog.kyber.network

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