23 Apr KyberSwap Launches on BitTorrent Chain With $1.5M in Liquidity Mining and Incentive Rewards
Kyber Network and BitTorrent have announced the integration of KyberSwap with BitTorrent Chain (BTTC) as their 11th chain integration, with more than $1.5M in 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.
Making Liquidity Mining Attractive
KyberSwap is the leading multi-chain DEX and is the best place to trade and earn the most excellent rates in DeFi. As of March 2022, KeyberSwap was the #7 DEX in terms of TVL growth and facilitated over US$8B of the trading volume. BitTorrent is an EVM cross-chain designed protocol that adopts the PoS (Proof-of-Stake) mechanism and leverages sidechains to scale smart contracts. For the next 4 months, from 21st April, users of KyberSwap and BTTC can participate in more than US$1.5M of liquidity mining incentives.
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.
Why add liquidity on KyberSwap? KeyberSwap allows liquidity providers (LPs) to maximize returns with the best trading rates, attractive incentives and yields.
Amplified Liquidity Pools have extremely high capital efficiency; fewer tokens are required to achieve better liquidity and rates than 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 shares info between non-blockchain sources and blockchain sources (central software that connects blockchain to the outside world)
With KyberSwap, BTTC users can trade and earn with the best rates and access the full spectrum of multi-chain DeFi capabilities. With monthly trading competitions, community giveaways, and an exclusive airdrop for all users who participate on-chain, KyberSwap is making it more attractive to add liquidity and maximize returns using its platform; and that’s not all! Even more integrations, features, and rewards will be coming up soon!
KyberSwap is excited about this partnership. The team is holding a sure-win trading contest with a $30,000 KNC reward pool to kick things off! Winning is straightforward; just follow the steps:
Step 1: Visit kyberswap.com
Step 2: Ensure you are on the BitTorrent Chain and have some BTT tokens in your wallet for gas fees.
Step 3: Perform ANY token swap. The minimum trade volume is $100.
All trades must be carried out on kyberswap.com. From 21st to 30th April, simply perform any token swap on BTTC to get your share of the rewards pool.
For The Love of BTTC & KyberSwap
The partnership between BTTC and KyberSwap brings attractive incentive campaigns for all users who love the two platforms. BitTorrent will be enhancing liquidity on KyberSwap with a $1.5 million liquidity mining campaign. Over the next four months, starting from April 21st SGT, liquidity providers can add any liquidity to the 13 eligible pools on KyberSwap on BTTC; to unlock their share of $1.5M in BTT and KNC rewards.
BTTC farms on KyberSwap will be allocated over $1.5M in BTT and KNC rewards over four4 months. The following farms listed below will go live on Thursday, April 21st, 2022, at 20:00 GMT+8, and other farms to be announced.
Saving the best for last and putting the cherry on top of this fantastic partnership, in their upcoming Gleam Campaign, there’s also $200 KNC to give away to five lucky winners! You have to follow some simple tasks, and five lucky winners will be selected at random to win $200 each in KNC!
Full details will be announced later, so stay tuned to the announcements to avoid missing out!
How to Start Liquidity Mining With BTTC
In order to start farming $BTT and $KNC all you have to do is:
Step 1: Visit kyberswap.com
Step 2: Make sure you are on the BTTC network and have some BTT tokens for gas transaction fees.
Step 3: 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.
Step 4: 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. There is no vesting period!
Make sure to check out the Kyber Network’s Medium post on the matter for the full details and explanations.
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