How to farm on KyberDMM
Creator liquidity mining went live on KyberDMM on September 22, 2021 and it's still on-going.
Over the next two months, liquidity providers can add any amount of liquidity to the CTR-BNB pool on KyberDMM on BSC to earn a piece of the $120,000 in CTR and KNC token liquidity mining prizes.
This event kicked off on September 22 2021 at 09:00 PM GMT+8 (09:00 EDT) and will be running till November 22 2021 at 09:00 PM GMT+8 (09:00 EDT). and a total reward pool of $120,000 in KNC and CTR will be distributed amongst liquidity providers with a vesting period of 14 days.
About Kyber Network
Kyber Network is a blockchain-based liquidity hub that connects liquidity from a wide range of sources to power instant and secure crypto exchanges in any decentralized application. As a liquidity hub, Kyber connects liquidity from diverse sources to provide the best rates for takers such as DApps, Wallets, DEXs, Aggregators, and users. Transactions on Kyber are fully on-chain and thus fully transparent and verifiable
Here's how you can participate:
Go to https://dmm.exchange
Switch Network from Ethereum to BSC
Add Liquidity for the eligible CTR-BNB pool
First, enter the ‘Pools’ page.
Connect your wallet e.g. Metamask on the BSC network and add liquidity by depositing CTR into the eligible CTR-BNB pool (Eligible Liquidity
Stake your LP tokens on the CTR-BNB farm and start receiving incentives
You may see the matching yield farms for the qualified pools here, and if you haven’t already, add liquidity to the pool. Placing your LP tokens on the CTR-BNB farm is a good idea. If this is your first time here, you must approve the tokens. After you’ve staked, go to the ‘My Deposit’ column to see how much you’ve put in.
Following staking, you will begin to get farming incentives in CTR and KNC, as well as protocol fees. The annualized percentage yield (APY) is calculated using pool fees plus prizes.
Click on the Yield tab.
Harvest and Claim Rewards
You can see how much of your KNC awards have been claimed, locked, and unlocked since the beginning by going to the ‘Vesting’ tab. You can also look up your vesting periods, both current and previous.
ALSO DO NOTE
Pools: Eligible Rainmaker pools are labelled with the 💧 raindrop icon next to them on the left. These pools are eligible for yield farming.). You will receive DMM LP pool tokens in your wallet representing your pool share and start earning standard protocol fees for that pool.
View Liquidity Positions: On the ‘My Dashboard’ page, you can view all your liquidity positions and remove or add liquidity there. If you cannot see your liquidity position, click ‘Don’t see a pool you joined? Import it’ to add it manually.
No Lock-up for Liquidity: You can unstake your DMM LP tokens and withdraw liquidity at any time without a penalty to existing rewards received. If you unstake your LP tokens, your rewards are automatically harvested.
***Important: Please use the official KyberDMM user interface to stake LP tokens. Direct transfers to the liquidity mining pool address will result in the loss of your deposited tokens to KyberDMM.
You must harvest your KNC prizes after being assigned them (also on the ‘Yield’ tab). When you harvest rewards, a fresh 14-day vesting period begins. Harvested benefits are locked in the beginning and vested over a 14-day period, with some rewards unlocked every block.
Depending on how many times you harvest rewards, different vesting periods may occur at the same time. Every harvest and reward claim necessitates the use of gas.
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