[Kyber Netwok] The Parallel (PRL): Add Liquidity and Trade at the Best Rates on KyberSwap
The Parallel has chosen KyberSwap DEX Aggregator and liquidity protocol for enhanced PRL liquidity on Binance Smart Chain (BSC)
KyberSwap is a next-gen DEX aggregator and liquidity protocol that achieves the best rates for traders through liquidity aggregation, while providing capital-efficient and higher returns for liquidity providers via amplified pools and dynamic fees.
We have been increasing both the number and liquidity of key token-pair pools on KyberSwap and are now collaborating with The Parallel to enhance liquidity for their PRL token together!
The Parallel — An Infinite Metaverse
The Parallel allows players to have limitless ability to create everything and anything. A magical place where players can come together to experience the unexpected, connect and earn! Players create a completely unique evolving metaverse with a dynamic and interwoven economic system.
? Website: https://theparallel.io
?Telegram Group: https://t.me/theparallelcommunity
?Tele Channel: https://t.me/theparallelofficial
PRL is used for staking, farming, transaction fees and payment in the Marketplace. It is also used for participation rewards in special events, for crafting Paragon NFTs, buying items and lands.
- Name: The Parallel
- Token Symbol: PRL
- Contract Address: 0xd07e82440A395f3F3551b42dA9210CD1Ef4f8B24
- Network: Binance Smart Chain (BEP-20 Token)
- Listed: 28th, December, 2021
KyberSwap allows $PRL LPs 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 react to market conditions and optimize returns for LPs.
- Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.
Liquidity providers can now earn fees by adding any amount of liquidity to the eligible PRL-BUSD pool on KyberSwap on BSC!
Trade at the Best Rates on KyberSwap
KyberSwap guarantees much better rates on Binance Smart Chain (BSC) for $PRL traders compared to trading on individual DEXs.
You can trade $PRL, $USDC, $USDT, $BUSD, $BNB and many other tokens at the best rates by navigating to the ‘Swap’ page. Read this user guide on how to use KyberSwap! If you have questions, join our Discord.
How to trade PRL on KyberSwap
- Prepare your Metamask (or other) crypto wallet
- Install the Metamask wallet extension here.
- Make sure you have some BNB for Binance Smart Chain gas fees.
2. Add PRL to your Metamask wallet
- Visit the official The Parallel website https://theparallel.io/
- Click on “CONNECT WALLET” to connect to your Metamask wallet.
- Click on “ADD PRL TOKEN” to add PRL tokens to your Metamask wallet.
3. Connect your Metamask wallet on KyberSwap and switch to the BSC Network
4. Visit the ‘Swap’ page and approve the PRL token
- Visit the ‘Swap’ page here.
- Search for and select the PRL token and approve it for trading
5. Start trading at PRL at the best rates on BSC!
- Simply type in the amount you wish to trade
- KyberSwap gives you the best rates on Binance Smart Chain (BSC) via DEX aggregation. On the UI you can see how much you save by using KyberSwap.
- Click Swap and Confirm
How to add liquidity for PRL on KyberSwap and earn fees
- Connect Metamask wallet
- Visit ‘Pools’ page to choose the pool to add liquidity to
- After your wallet is connected, go to the ‘Pools’ page and make sure you choose the PRL-BUSD token pair. Select the pool you wish to add liquidity to and click on the ‘+’ icon under ‘Add Liquidity’.
- Make sure you have BNB to cover Binance Smart Chain (BSC) gas fees.
3. Select how you want to add liquidity
- There are 2 options to deposit liquidity, either according to the pool ratio of the token pair (standard), or as a single token deposit. Type in the amount of tokens you want to add. This has to match the pool ratio. If this is the first time you are using these tokens, you will need to approve the use of these tokens on KyberSwap.
4. Add liquidity and earn fees
- Once ready, click ‘Confirm’. After you have added liquidity, you will receive a receipt token called Kyber Liquidity Provider Tokens (LP tokens) which represent your liquidity position.
- You will start earning fees from each trade in the pool! Fees are accumulated over time and you can receive them automatically when you remove your liquidity.
5. View your liquidity positions under ‘My Pools’ page.
For more detailed instructions, please read our user guides.
Please make sure that you are interacting with the correct PRL token contract: 0xd07e82440A395f3F3551b42dA9210CD1Ef4f8B24
Start trading or adding liquidity for PRL on KyberSwap now to get the best rates!
The Parallel is a very promising project and we look forward to working closely with them on future collaborations!
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About Kyber Network
Kyber Network is delivering a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources to provide the best token rates to Dapps, aggregators, DeFi platforms, and traders.
Through Kyber, anyone can provide 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$7 billion worth of transactions for thousands of users since its inception.
KyberSwap, the latest protocol in the liquidity hub, provides the best rates for traders and maximizes returns for liquidity providers.
The Parallel (PRL): Add Liquidity and Trade at the Best Rates on KyberSwap was originally published in Kyber Network on Medium, where people are continuing the conversation by highlighting and responding to this story.