[Kyber Netwok] Creator Chain and Kyber Collaborate to Optimize Liquidity for the $CTR Token
Creator Chain has chosen the highly capital efficient KyberDMM DEX for its token liquidity on BSC, with $120,000 in $CTR and $KNC liquidity mining rewards.
As of September 1, Binance Smart Chain (BSC) users now have another DEX to choose from — KyberDMM, which brings both capital efficiency and optimized returns to BSC liquidity providers and token traders. To kick off this macro initiative to bootstrap the liquidity and adoption of KyberDMM in the BSC ecosystem; KyberDMM launched a two-month long liquidity mining campaign on BSC, with $4M in rewards to incentivize strategic pools that are foundational to both trading and Dapp usage on BSC.
As part of this strategic initiative, the Kyber Network community and KyberDAO have been voting on promising projects on BSC to increase both the number and liquidity of key token-pair pools on KyberDMM as well as incentivize them with attractive yield. With the passing of KIP-15, these joint initiatives continue with the launch of a joint liquidity mining campaign with Creator Chain — a Blockchain-as-a-Service (BaaS) Platform which provides no-code smart contracts, low-code DApps and other services to empower the DeFi and NFT world.
Starting on September 22 at 21:00 GMT+8 (09:00 EDT), liquidity providers can add any amount of liquidity to the CTR-BNB pool on KyberDMM on BSC to unlock their share of the $120,000 in $CTR and $KNC liquidity mining rewards over the next two months. $CTR rewards can be used to join IDO projects on the Creator Launchpad and to open special mystery boxes in the Creator NFT Marketplace; while $KNC rewards can be added into the KNC/BNB pool for extra liquidity mining incentives, or staked on KyberDAO for additional KNC rewards.
KyberDMM DEX allows $CTR LP’s to maximize the use of capital via:
- Amplified Liquidity Pools with extremely high capital efficiency; less tokens required to achieve better liquidity and rates compared to AMMs.
- Dynamic Fees that optimize returns for LPs.
- Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.
- Starting Time/Block:
- Reward: ~$120,000 in KNC and CTR
- Campaign Duration: ~2 months
- Vesting: ~14 days
- KNC token address (BSC): 0xfe56d5892bdffc7bf58f2e84be1b2c32d21c308b
- CTR token address (BSC): 0xD6Cce248263ea1e2b8cB765178C944Fc16Ed0727
How to Farm $KNC and $CTR
- Visit KyberDMM
- Switch Network from Ethereum to BSC
- Visit the Pools page and add liquidity for the eligible CTR-BNB pool (you will receive LP tokens representing your pool share)
- Go to the Yield page and stake your LP tokens on the CTR-BNB farm. You will start receiving KNC and CTR rewards, which can be harvested anytime.
- Claim all harvested and unlocked rewards after 14 days (14-day vesting starts each time you harvest rewards).
About Creator Chain
Creator is a Blockchain-as-a-Service (BaaS) platform that provides No-Code Smart Contracts, Low-Code DApps and other services to empower the DeFi and NFT world. Creator has an incredibly friendly UI and multiple enhanced background services. By filling out some initial information and a few clicks, anyone (with or without IT/ Blockchain skills) can launch a Smart Contract or DApp. Creator’s chain is based on Polkadot/Substrate for true interoperability, user-driven network governance and customizations that focus on DeFi, Tokenization (NFT) and other Blockchain Services.
About Kyber Network
Kyber Network aims to deliver a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources (e.g. KyberDMM) to provide the best token rates to takers such as Dapps, aggregators, DeFi platforms, and traders.
Through Kyber, anyone can contribute or access liquidity, and developers can build innovative applications, including token swap services, decentralized payments, and financial Dapps — helping to build a world where any token is usable anywhere.
Kyber is powering more than 100 integrated projects and has facilitated over US$6 billion worth of transactions for thousands of users since its inception.
Creator Chain and Kyber Collaborate to Optimize Liquidity for the $CTR Token was originally published in Kyber Network on Medium, where people are continuing the conversation by highlighting and responding to this story.