cryptonewsz.com
Lido Finance recently announced partnering with KyberSwap Elastic to bring more liquidity to Polygon. The venture offers a whopping 120,000 dollars in liquidity mining rewards to attract more users.
Known among the best Ethereum-based liquid staking firms, Lido Finance is empowering numerous CeFi and DeFi apps in its ecosystem. From August 16 onwards, liquidity providers can choose between five stMATIC eligible pools on KyberSwap Elastic for better liquidity.
In return, they will be rewarded with $KNC and $LDO tokens. With the assistance of the KyberSwap Elastic protocol, liquidity providers can enjoy compounding fees and concentrated liquidity, and it will expose them to maximize rewards and higher capital efficiency.
Kyberswap Elastic protocol allows users to provide liquidity to a pool with utmost flexibility and different fee settings. Compared to KyberSwap Classic, it differs in terms of Concentrated liquidity and Reinvestment curve. However, both protocols are based on an industry-leading decentralized exchange (DEX) aggregator and automated market maker (AMM), KyberSwap.
Here is a list of eligible pools with their fee tier:-
- stMATIC – WMATIC (0.01%)
- stMATIC – USDT (0.04%)
- USDC – stMATIC (0.04%)
- stMATIC – MAI (0.04%)
- stMATIC – DAI (0.04%)
In the official post by KyberSwap Elastic, users can find the entire list of eligible pools. To earn stMATIC, users must stake MATIC on Lido and earn the tokens while staking. Another possible way to do so is directly purchasing them on KyberSwap Polygon.
The integration brings an abundance of benefits for every party. It will help the traders to receive the best swap rates for stMATIC via decentralized exchange aggregation. At the same time, it allows users to find other tokens before they moon.
As for LPs, the integration will offer concentrated liquidity for stMATIC pairs and other tokens. It also brings auto-compounded LP fees, bonus liquidity incentives, and protection against sniping.
Besides all this, the integration will allow developers to integrate dApps with KyberSwap’s aggregation API and pools. It will enable them to save time and resources while accessing the best possible rates.