Unbound has chosen the extremely capital environment friendly KyberDMM DEX for higher token liquidity on Ethereum, with ~$1M in $KNC and $UNB liquidity mining rewards
KyberDMM DEX, the newest liquidity protocol powered by Kyber Community, has introduced each excessive capital effectivity and optimized returns to Ethereum liquidity suppliers and token merchants. The Kyber Community neighborhood (through KyberDAO) has additionally been voting on promising tasks on Ethereum to drive adoption and improve each the quantity and liquidity of key token-pair swimming pools on KyberDMM in addition to incentivize them with engaging yield via the ‘Rainmaker’ liquidity mining campaigns.
These initiatives with widespread DeFi tasks proceed with the launch of a brand new ‘Rainmaker’ joint liquidity mining marketing campaign with Unbound with $1 Million value of incentives, beginning ~5 November 10.30am EDT/10.30pm GMT+8!
Unbound Finance is a decentralized, cross-chain liquidity protocol that’s constructing the following cash lego by unlocking the liquidity from AMMs. The protocol is the ‘First-Ever-Debt-Free Liquidity Provision System’ that collateralizes LP Tokens to generate artificial property together with the UND stablecoin (pegged to 1 USD) and uETH. The protocol costs no rates of interest and is liquidation-free. Unbound simply announced their mainnet launch!
KyberDMM DEX was chosen by Unbound Finance because it permits $UND liquidity suppliers to maximise the usage of capital through:
- Amplified Liquidity Swimming pools with extraordinarily excessive capital effectivity; much less tokens required to realize higher liquidity and charges in comparison with AMMs, particularly for extra secure pairs, so LPs can earn extra with comparatively much less capital.
- Dynamic Charges that react to market circumstances and optimize returns for LPs.
- Higher Reliability & Safety: Audited by ChainSecurity and insured as much as $20M by Unslashed Finance.
As well as, $UND merchants on KyberDMM DEX get higher charges on Ethereum in comparison with buying and selling on particular person DEXs. That is doable through our new Dynamic Trade Routing characteristic which aggregates liquidity from a number of DEXs on Ethereum together with our capital-efficient KyberDMM swimming pools!
Beginning on ~Friday, 5 November at 10:30 EDT (22:30 GMT+8), liquidity suppliers can add any quantity of liquidity to the eligible UND-KNC and UND-USDC swimming pools on the KyberDMM on Ethereum to farm and unlock their share of the rewards over the following few months!
To organize, you’ll be able to already add liquidity for USDC-USDT now to earn charges and get LP tokens that can be utilized to mint UND for the yield farms beginning at 10:30 EDT (22:30 GMT+8)!
For the primary month, KyberDMM DEX would be the solely venue on Ethereum so as to add liquidity for the UND token and farm engaging rewards!
KNC rewards obtained may be staked on KNC swimming pools or KyberDAO for extra KNC rewards or on KrystalGO for Token Sale allocations.
- UNB governance token shouldn’t be dwell but. UND-UNB pool can be arrange in a while KyberDMM.
- 60% of the minting payment that Unbound generates can be given as further rewards to the LPs of UND-KNC, UND-USDC and UND-UNB swimming pools within the type of UND.
- KyberDMM USDC-USDT LP tokens can be whitelisted on Unbound Finance on Fri, 5 November.
- Learn the KIP proposal by Unbound Finance
The marketing campaign is cut up into 3 components
2 -months LM marketing campaign with a 125K KNC(~$250K) and 60% of UND minting payment reward for the UND-KNC, UND-USDC, UND-UNB swimming pools (UND-UNB pool will come later as UNB shouldn’t be dwell but).
Reward: $250,000 in KNC + 60% of the minting payment that Unbound generates within the type of UND.
90% of the rewards are allotted to the UND-USDC pool and 10% of the rewards allotted to the UND-KNC pool.
Half B (conditional; relies on Half A)
If Half A circumstances are met, the place Unbound hits the goal TVL of $15M, KyberDMM will unlock the remaining 125K KNC for the third and 4th month.
If Half A doesn’t hit the goal TVL of $15M, the marketing campaign ends quickly after 2 months.
Reward: $250,000 in KNC + 60% of the minting payment that Unbound generates
If half A circumstances are NOT met, $250k in UNB rewards can be given to the three swimming pools talked about above for two months after completion of month 2 (Half A).
Complete LM Marketing campaign = 2+2 months till additional discover.
If half A circumstances are met, $500k in UNB rewards can be given to the three swimming pools talked about above for 4 months after completion of 4 months (Half B).
Anticipated state of affairs: Complete LM Marketing campaign = 4+4 months.
Reward: $500,000 in UNB token rewards + 60% of the minting payment that Unbound generates
Complete Rewards Abstract
- Half A: $250,000 in KNC for the primary two months
- Half B: $250,000 in KNC for the following two months if circumstances are met
- Half C: $500,000 in UNB for the following 4 months if circumstances are met
Bonus: 60% of the minting payment that Unbound generates can be given as further rewards to the LPs of UND-KNC, UND-USDC and UND-UNB swimming pools within the type of UND.
- KyberDMM’s USDC-USDT LP tokens can be utilized to mint the UND stablecoin on https://app.unbound.finance/mint; that is out there beginning Friday, 5 November!
2. Together with your freshly-minted UND tokens, go to KyberDMM
3. Be sure to are on the Ethereum community.
4. Go to the Swimming pools web page and add liquidity for the eligible UND-KNC and UND-USDC swimming pools, which have a raindrop 💧 icon (you’ll obtain LP tokens representing your pool share)
5. As soon as the Yield Farms start on 5 November, go to the Farm web page and stake your LP tokens on the eligible UND farms. You’ll begin receiving KNC rewards, which may be harvested anytime.
6. Declare all harvested and unlocked KNC rewards after 14 days (14-day vesting begins every time you harvest rewards). Your UND rewards (60% of Unbound minting charges) don’t have any vesting.
As talked about above, KNC rewards obtained may be staked on KNC swimming pools or KyberDAO for extra KNC rewards or on KrystalGO for Token Sale allocations.
You can even commerce $UND, $USDC, $USDT and different tokens at the most effective charges by navigating to the Swap page. We sit up for working intently with the Unbound Finance group on future collaborations!