Welcome gamers and crypto lovers, Avaxholic is happy to share that BENQI and Yeti Finance Launches Concentrated Liquidity Yield Farming on KyberSwap. So let explore it in today’s article!
On Wednesday, August 17, KyberSwap kicks off the concentrated liquidity yield farming jointly with BenqiFinance and YetiFinance. In an effort to increase liquidity and offer the best rates for sAVAX and YUSD tokens on Avalanche, BENQI and Yeti Finance have decided to collaborate with the highly capital efficient KyberSwap.
Over $200,000 in liquidity mining awards are anticipated for liquidity providers in this collaborative initiative’s initial phase. Liquidity providers will now have access to even higher profits and more freedom to customize their earning methods thanks to our newest protocol, KyberSwap Elastic.
This is not the first time BENQI has partnered with KyberSwap for its capital efficiency benefits. For more information, visit here: BENQI Liquidity Mining on KyberSwap Continues with ~1.7M in QI & KNC Rewards.
BENQI Liquid Staked AVAX (sAVAX) is the token that users receive when staking their AVAX on BLS. It is the tokenized version of staked AVAX and accrues interest through Avalanche staking rewards. Users are able to exchange sAVAX for AVAX + staking rewards through the Unstake. AVAX holders can get $sAVAX by staking $AVAX on BENQI.
From 17th Aug, liquidity providers can add liquidity to the eligible sAVAX and YUSD pools on KyberSwap Elastic on Avalanche to get KNC, QI and YETI rewards. Don’t forget, with the Elastic protocol LPs can enjoy concentrated liquidity and compounding fees, giving you higher capital efficiency and maximizing rewards!
DEX aggregation provides the best exchange rates for sAVAX and YUSD, while on-chain indicators allow traders to spot other tokens even before they trend or moon.
For Liquidity Providers
- Concentrated liquidity for sAVAX, YUSD 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 BENQI and Yeti LPs.
The pools and aggregation API of KyberSwap can be integrated by Dapps to offer the best prices to their own users while conserving time and resources.
BENQI is a decentralized non-custodial liquidity market and liquid staking protocol built on Avalanche. The BENQI Protocol consists of:
- The BENQI Liquidity Market (BLM) protocol.
- The BENQI Liquid Staking (BLS) protocol.
For more information, visit here: What Is BENQI? How To Use BENQI For Avalanche Users
Yeti Finance is a cross-margin lending protocol on Avalanche that allows users to borrow up to 21x against their portfolio of LP tokens, staked assets such as sAVAX, and yield-bearing stablecoins in a single debt position for 0% interest.
For more information, visit here: What Is Yeti Finance? Everything You Should Know Before Investing In $YETI
Kyber Network is a Decentralized Exchange (DEX) aggregator and liquidity platform, provides the best rates for traders in DeFi and maximizes returns for liquidity providers. Currently deployed across 12 chains including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.
For more information, visit here: What Is Kyber Network (KNC)? Everything You Should Know Before Investing In KNC
That is it for today. See you next time.
All information here is for reference only, not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.
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