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Kyber Network Token’s (KNC) first liquidity mining program will go live this weekend on FuseSwap, rewarding Liquidity Providers on the KNC/USDC pair with 50,000 FUSE tokens over a 1-month period.
- Program Starting: Saturday 13th February at 3 pm UTC.
- Duration: 1-month.
- Liquidity Pool: KNC/USDC.
- Total Rewards: 50,000 FUSE.
- DEX: FuseSwap.
- Platform: Fuse Network
The team at Fuse is pleased to introduce a new liquidity mining program to reward KNC/USDC Liquidity Providers (LPs) on FuseSwap. A total of 50,000 FUSE will be allocated in rewards for network participants.
By incentivizing Kyber Network LPs with rewards, we aim to increase KNC/USDC liquidity on FuseSwap allowing community members to gain exposure to the top 100 coin. Increased liquidity also allows FuseSwap users to enter and exit larger positions in KNC without significant price movement or slippage.
In addition to the 0.3% trading fee commissions earned via FuseSwap, LPs will also earn their share of the 50,000 FUSE tokens, distributed proportionally based on how much is contributed to the pool.
A quick guide on how to participate in the KNC Liquidity Rewards Program on FuseSwap:
- Step 1: Transfer your KNC and USDC tokens from Ethereum to Fuse Network via the bridge on FuseSwap.
- Step 2: Provide liquidity on the KNC/USDC pool.
- Step 3: Head to rewards.fuse.io and locate the KNC/USDC program under “Fusewap Rewards”. Deposit LP tokens starting Saturday 13th February at 3 pm UTC.
- Step 4: You will receive your rewards at the end of the program when you withdraw your LP tokens and “claim”.
Additional information:
- APY is constantly changing as more people participate and new liquidity is added.
- For those purchasing KNC/USDC and transferring it to Fuse Network using the bridge, it can be helpful to track gas fees to try and find the optimal time to make these transactions. At the time of writing, average gas fees are around 120 gwei.
A tutorial is available here on how to:
- Bridge assets from Ethereum to Fuse Network.
- Add liquidity on FuseSwap.
- Deposit LP tokens to receive rewards in FUSE token.
More information on bridging assets and adding liquidity can also be found in our documentation.
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