‘An Extensive Arbitrum-Centered Campaign’
Kyberswap reportedly launched the first-ever $ARB token liquidity pools, liquidity mining, and trading campaigns on the Arbitrum Chain at the time of the much anticipated $ARB token airdrop.
Ready for #ArbSeason? We are!#KyberSwap is excited to announce we’re launching the first-ever $ARB liquidity pools, liquidity mining and trading campaigns on @arbitrum🚀$ARB yield farms comes with 2% & 5% fee tiers so farmers get to earn more😉
— Kyber Network (@KyberNetwork) March 22, 2023
According to KyberSwap, the $ARB liquidity pools will provide users with more liquidity options and trading pairs.
“We are excited 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-centered campaign KyberSwap has planned, and we will announce more rewards and activities soon for both LPs and traders.”
As reported, KyberSwap’s liquidity mining programs will enable liquidity providers to earn fees and rewards by adding liquidity to $ARB pools.
The following pools are eligible for $ARB liquidity mining rewards:
New Fee Tiers and Trading Campaigns
KyberSwap introduced new fee tiers of 2% and 5% for these yield farms, which previously was 1%. As a result of these new fee tiers, KyberSwap anticipates that $ARB farmers will have opportunities to benefit from the anticipated higher volatility and trading volume during the price discovery phase after the airdrop.
Currently, the $ARB pools at the KyberSwap platform are generating considerable APRs. For instance, the ETH-ARB pair has a current APR of 1757.07%.
As part of its trading campaigns, KyberSwap has partnered with other protocols with a certain amount of rewards. By collaborating with Pomerium Trading and Bob Trading, KyberSwap launched trading campaigns with $5,000 rewards each.
The KyberSwap team plans to reward traders and liquidity providers post-launch, including $ARB and $KNC airdrops and commemorative NFTs. KyberNetwork (KNC) is trading at $0.6896, down 4.79% in 24 hours. On the contrary, Arbitrum ($ARB) is trading at $1.29 with a market cap of $1.634 billion.
What is Kyber Network:
Kyber Network is a multi-chain cryptocurrency trading and liquidity hub that connects liquidity from various sources to enable trades at the best possible rates. Kyber Network can be integrated into decentralized applications (dApps), cryptocurrency wallets, and platforms for decentralized finance (DeFi).