Jarvis Community has chosen the extremely capital-efficient KyberDMM DEX to spice up jFIATs token liquidity on Polygon, with $440,000 in JRT, UMA and KNC liquidity mining rewards.
KyberDMM (Kyber Dynamic Market Maker) is an revolutionary and capital environment friendly DEX protocol that enhances liquidity with amplified swimming pools, and optimizes returns for liquidity suppliers with dynamic charges.
Over the previous three months, the Polygon ecosystem has benefited from KyberDMM, which has introduced each capital effectivity and optimized returns to Polygon liquidity suppliers and token merchants. Polygon customers additionally loved the two-month lengthy ‘Rainmaker’ liquidity mining marketing campaign on KyberDMM, with $5.5M in rewards which incentivized strategic swimming pools within the Polygon ecosystem and resulted within the KyberDMM reaching file highs as one of many quickest rising tasks on Polygon shortly after its launch.
As a part of this strategic initiative, the Kyber Community neighborhood has been voting on promising tasks on Polygon to extend each the quantity and liquidity of key token-pair swimming pools on KyberDMM in addition to incentivize them with enticing liquidity mining campaigns (e.g with xDollar).
These joint initiatives with key Polygon tasks are persevering with with the launch of a liquidity mining marketing campaign with Jarvis Network!
We’re excited to run a joint liquidity mining marketing campaign with Jarvis Community which goals to make DeFi extra accessible to everybody by bringing extra fiat currencies into the Blockchain and by enabling a liquid on-chain Foreign exchange market.
Their first protocol, Synthereum, permits the issuance and change with out value influence of artificial fiat currencies (aka jFIAT) like jEUR, jCHF or jGBP. Due to this design, merchants can carry out arbitrage between this main market and secondary markets akin to AMMs, as a way to preserve a powerful peg.
The next KyberDMM swimming pools shall be incentivized with $AUR tokens:
AUR Token: AUR tokens are representing different tokens locked in a wise contract, referred to as the “reserve”. The AUR contract is principally an artificial asset that tracks the worth of the amount of JRT + UMA + KNC tokens within the reward contract.
KyberDMM LPs obtain AUR tokens and have the selection to promote them instantly, or wait till the tip of the 8 week-program to unlock the JRT, UMA and KNC held within the reserve contract, by burning AUR.
Quick-term farmers can promote AUR so it received’t have a promoting strain on both tokens; long run farmers can hold AUR and can declare JRT, UMA and KNC on the finish of the farming program.
AUR-USDC shall be a market so customers can purchase, promote, and do arbitrages. Arbitrageurs will make bets: what would be the value of JRT + UMA + KNC in 2 month? In the event that they suppose it can go up, shopping for AUR now could possibly be a good suggestion. The nearer we get to the tip of the 8 weeks, the nearer the worth of AUR shall be to the worth of JRT + UMA + KNC.
JRT Token: JRT is a multi-utility token which must be staked on the Jarvis Community platform to utilise its varied options.
UMA Token: UMA is used as a governance token and to satisfy value requests for the UMA protocol.
KNC Token: KNC is a governance and utility token. Holders stake and vote to obtain buying and selling charges from protocols within the community. As extra trades are executed and new protocols added, extra rewards are generated. KNC is dynamic and might be utilized by KyberDAO to higher assist liquidity and progress. Holding KNC means having a stake in all of the necessary innovation and liquidity protocols created for DeFi.
KyberDMM DEX permits jFIATs liquidity suppliers to maximise the usage of their capital by way of:
- Amplified Liquidity Swimming pools: Extraordinarily excessive capital effectivity; much less tokens required to realize higher liquidity and charges in comparison with AMMs.
- Dynamic Charges: React to market situations and optimize returns for LPs.
- Higher Reliability & Safety: Audited by Chain Safety and insured as much as $20M by Unslashed Finance.
From sixth October at ~11am EDT (11pm GMT+8), liquidity suppliers can add any quantity of liquidity to the next jEUR-USDC, jGBP-USDC, jCHF-USDC and AUR-USDC swimming pools on KyberDMM on Polygon to unlock their share of the ~$440,000 in $AUR liquidity mining rewards (comprising JRT + UMA + KNC) over the following 8 weeks.
- Begin block: 19910900 ~11am EDT (11pm GMT+8)
- Finish block: 22110000
- Reward: ~$440,000 in AUR (comprising JRT + UMA + KNC tokens)
- Marketing campaign Period: ~ 8 weeks
- Vesting: No Vesting
jFIAT contracts (Polygon)
- Go to KyberDMM DEX.
- Ensure you are on the Polygon community.
- Go to the Swimming pools web page and add liquidity for the eligible jEUR-USDC, jGBP-USDC, jCHF-USDC and AUR-USDC swimming pools, which has a raindrop 💧 icon (you’ll obtain LP tokens representing your pool share).
- Go to the Farm web page and stake your LP tokens on the jEUR-USDC, jGBP-USDC, jCHF-USDC and AUR-USDC farms. You’ll begin receiving $AUR rewards, which might be harvested and claimed anytime as there is no such thing as a vesting interval.
- You may promote $AUR tokens instantly or wait until the tip of this system to burn them to redeem the $JRT, $UMA and $KNC held within the reserve. Burning $AUR occurs on the Jarvis Yield application.
Aside from including liquidity for and farming $AUR, you might be additionally in a position to commerce jEUR, jGBP, jCHF and AUR tokens on KyberDMM DEX by navigating to the Swap page. We stay up for working carefully with the Jarvis Community group on future collaborations!