xDollar Optimizes Liquidity for the xUSD Token on Polygon with the KyberSwap

Published in

Kyber Network

4 min readSep 17, 2021

xDollar has chosen the highly capital efficient KyberSwap for better token liquidity on Polygon, with $75,000 in $XDO and $KNC liquidity mining rewards.

Over the past three months, Polygon users have gotten to experience another DEX and liquidity source — KyberSwap, which has brought both capital efficiency and optimized returns to Polygon liquidity providers and the best rates to token traders via DEX aggregation.

Polygon users also enjoyed the two-month long ‘Rainmaker’ liquidity mining campaign on KyberSwap, with $5.5M in rewards which incentivized strategic pools in the Polygon ecosystem and resulted in the KyberSwap reaching record highs as one of the fastest growing projects on Polygon shortly after its launch.

As part of this strategic initiative, the Kyber Network community has been voting on promising projects on Polygon to increase both the number and liquidity of key token-pair pools on KyberSwap as well as incentivize them with attractive liquidity mining campaigns. These joint initiatives with key projects on Polygon are starting with the launch of a liquidity mining campaign with xDollar, via its xUSD-USDC pool.

KyberSwap allows xUSD LP’s 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 optimize returns for LPs.
Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.

xDollar’s research team has over the past few months conducted a public experiment to verify KyberSwap’s capital efficiency and dynamic fee technology. Through this experiment, the KyberSwap was proven by on-chain data to be beneficial to the xDollar community; as a capital efficient and fee-friendly DEX platform with lower slippage. With this positive outcome, xDollar and Kyber are both excited to collaborate to not only optimize xUSD liquidity, but also incentivize liquidity providers with extra rewards on top of optimized returns.

From ~September 17 at 21:00 GMT+8, liquidity providers can add any amount of liquidity to the xUSD-USDC pool on KyberSwap on Polygon to unlock their share of the $75,000 in $XDO and $KNC liquidity mining rewards over the next two months. $XDO can be staked on the XDO stacking pool on Polygon or Avalanche to earn 100% of the platform revenue proportionally. $KNC rewards can be staked on KyberDAO for additional $KNC rewards.

Important Details

Phase 1

Blocks: Start: 19204300; End: 20190300
Reward: ~$30,000 in KNC and XDO
Campaign Duration: ~1 month
Vesting: ~14 days
KNC token address (Polygon): 0x1C954E8fe737F99f68Fa1CCda3e51ebDB291948C
xUSD token address: 0x3A3e7650f8B9f667dA98F236010fBf44Ee4B2975

Phase 2

Blocks: TBA
Reward: ~$45,000 in KNC and XDO
Campaign Duration: ~1 month

How to Farm $KNC and $XDO

Visit KyberSwap.com
Switch Network from Ethereum to Polygon (Matic Mainnet).
Visit the Pools page and add liquidity for the eligible xUSD-USDC pool (you will receive LP tokens representing your pool share)
Go to the Farm page and stake your LP tokens on the xUSD-USDC farm. You will start receiving KNC and XDO rewards, which can be harvested anytime.
Claim all harvested and unlocked rewards after 14 days (14-day vesting starts each time you harvest rewards).

Besides adding liquidity for and farming $XDO, you are also able to trade the token on KyberSwap by navigating to the Swap page.

BONUS Rewards: $3,000

Kyber and xDollar are not stopping at $75,000, though! There is another exciting incentive for xUSD-USDC pool LP’s and community members.

Contest Duration:

From September 21th, 23:59 to October 5th, 23:59 GMT+8

$2,000: 4 lucky LP’s will be randomly selected to win $500 each. Just add ANY amount of liquidity in the xUSD-USDC pool. Liquidity has to remain in the pool until at least October 5th, 23:59 GMT+8 to stand a chance to win. Note: Start adding liquidity right now to be early!
$1,000: 5 lucky winners get $200 each for retweeting the contest tweet #KNCXDO and completing basic tasks on Twitter.

Follow @xdollarfi and @KyberNetwork on Twitter
Retweet the contest tweet with the hashtag #KNCXDO
Join https://t.me/xdollar_ann & https://t.me/kybernetwork/

About xDollar

An interest free lending platform built first on Polygon network for minting decentralized stablecoin against popular token assets, where you can borrow xUSD against other crypto tokens at 0% interest. Cross-chain. DAO Governance. Multi-collateral vault system.

Telegram | Discord | Website | Twitter

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.