Ho Chi Minh City, Vietnam, 22nd March, 2023, Chainwire
Since its launch in 2021, Arbitrum has been identified as one of the most promising Layer 2 solutions, enabling users to make faster and cheaper transactions.
On March 16, Ethereum Layer 2 Scaling Solutions Arbitrum announced a distribution of $ARB (a new governance token) to eligible recipients as part of the project’s transition to self-executing governance.
This airdrop is expected to be available on March 23, with the possibility of the largest crypto airdrop to date.
KyberSwap was one of the protocols bridged to Arbitrum, allowing users to conduct swaps and become eligible for the $ARB Airdrop.
KyberSwap, a decentralized exchange (DEX), aggregator, and liquidity platform, will announce the launch of the first $ARB token liquidity pools, as well as liquidity mining and trading campaigns. Across the Arbitrum Chain. These moves represent important steps forward for KyberSwap to increase liquidity and create more opportunities for earning in the ever-expanding market of the Arbitrum ecosystem.
With the launch of the $ARB liquidity pool, KyberSwap users now have more trading pairs and liquidity options. Liquidity providers will now have greater opportunities to earn fees or rewards by participating in liquidity mining programs and adding liquidity to $ARB pools.
The following ARB pools are eligible for liquidity mining reward:
Token Pairs
- ARB-ETH (2%)
- Apr ARB-ETH (5%)
- ARB-USDT (2%)
- ARB-USDT (2%)
- ARB-KNC (5%)
As a reward incentive, an estimated sum of 70,000 KNC has been allocated.
*Incentives may continue to be used after the duration expires. This will be confirmed at another date.
Greater Flexibility With New Fee Tiers
With these highly anticipated yield farms, KyberSwap has introduced new fees tiers of 2% and 5%, which is higher than their current highest offer of 1%. These new fee tiers give $ARB farmers the opportunity to benefit from the high volatility and high trading volume expected during the price discovery phase after the airdrop. These pools offer superior returns, in addition to the farming benefits, and are seamlessly integrated by multiple DEXs or aggregators, and KyberSwap has the ability to meet the needs of the entire chain in a way unmatched by any other competitors.
“We are delighted to launch the first ever $ARB liquidity mining pools,” said Victor Tran, CEO and Co-Founder of KyberSwap. “These farms will mark the beginning of an extensive Arbitrum-focused campaign that KyberSwap has planned, and we will soon announce more rewards and activities for both LPs and traders. Additionally, traders can set their prices to buy or sell $ARB with our limit order function and swap at the optimised rates with our aggregator.”
Other Arbitrum Yield Farms On KyberSwap
In addition to the ARB farms, KyberSwap.com offers yield-based farms on Arbitrum:
Depending on the success of the $ARB trading volume, KyberSwap will offer liquidity providers and traders additional rewards, such as $ARB or $KNC airdrops and commemorative rewards.
According to Nansen, Arbitrum is one of the fastest growing blockchains in 2022, with more than $1.1 million locked in its ecosystem and one of the most valuable.