Jarvis Network Enhances jFIATs Token Liquidity on Polygon with KyberSwap

Jarvis Network has chosen the highly capital-efficient KyberSwap DEX to boost jFIATs token liquidity on Polygon, with $440,000 in JRT, UMA and KNC liquidity mining rewards.

Published in

Kyber Network

5 min readOct 6, 2021

KyberSwap (previously known as DMM) is an innovative and capital efficient DEX aggregator that gives traders the best rates, while enhancing liquidity with amplified pools and optimizing returns for liquidity providers with dynamic fees.

Over the past three months, the Polygon ecosystem has benefited from KyberSwap, which has brought both capital efficiency and optimized returns to Polygon liquidity providers and token traders. 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 (e.g with xDollar).

These joint initiatives with key Polygon projects are continuing with the launch of a liquidity mining campaign with Jarvis Network!

Rainmaker Liquidity Mining: Jarvis Network

We’re excited to run a joint liquidity mining campaign with Jarvis Network which aims to make DeFi more accessible to everyone by bringing more fiat currencies into the Blockchain and by enabling a liquid on-chain Forex market.

Their first protocol, Synthereum, allows the issuance and exchange without price impact of synthetic fiat currencies (aka jFIAT) like jEUR, jCHF or jGBP. Thanks to this design, traders can perform arbitrage between this primary market and secondary markets such as AMMs, in order to maintain a strong peg.

The following KyberSwap pools will be incentivized with $AUR tokens:

jEUR-USDC
jGBP-USDC
jCHF-USDC
AUR-USDC

AUR Token: AUR tokens are representing other tokens locked in a smart contract, called the “reserve”. The AUR contract is basically a synthetic asset that tracks the price of the quantity of JRT + UMA + KNC tokens in the reward contract.

KyberSwap LPs receive AUR tokens and have the choice to sell them immediately, or wait until the end of the 8 week-program to unlock the JRT, UMA and KNC held in the reserve contract, by burning AUR.

Short-term farmers can sell AUR so it won’t have a selling pressure on either tokens; long term farmers can keep AUR and will claim JRT, UMA and KNC at the end of the farming program.

AUR-USDC will be a market so users can buy, sell, and do arbitrages. Arbitrageurs will make bets: what will be the price of JRT + UMA + KNC in 2 month? If they think it will go up, buying AUR now could be a good idea. The closer we get to the end of the 8 weeks, the closer the price of AUR will be to the price of JRT + UMA + KNC.

JRT Token: JRT is a multi-utility token which needs to be staked on the Jarvis Network platform to utilise its various features.

UMA Token: UMA is used as a governance token and to fulfill price requests for the UMA protocol.

KNC Token: KNC is a governance and utility token. Holders stake and vote to receive trading fees from protocols in the network. As more trades are executed and new protocols added, more rewards are generated. KNC is dynamic and can be utilized by KyberDAO to better support liquidity and growth. Holding KNC means having a stake in all the important innovation and liquidity protocols created for DeFi.

KyberSwap enables jFIATs liquidity providers to maximize the use of their capital via:

Amplified Liquidity Pools: Extremely high capital efficiency; less tokens required to achieve better liquidity and rates compared to AMMs.
Dynamic Fees: React to market conditions and optimize returns for LPs.
Better Reliability & Security: Audited by Chain Security and insured up to $20M by Unslashed Finance.

From 6th October at ~11am EDT (11pm GMT+8), liquidity providers can add any amount of liquidity to the following jEUR-USDC, jGBP-USDC, jCHF-USDC and AUR-USDC pools on KyberSwap on Polygon to unlock their share of the ~$440,000 in $AUR liquidity mining rewards (comprising JRT + UMA + KNC) over the next 8 weeks.

Important Details

Start block: 19910900 ~11am EDT (11pm GMT+8)
End block: 22110000
Reward: ~$440,000 in AUR (comprising JRT + UMA + KNC tokens)
Campaign Duration: ~ 8 weeks
Vesting: No Vesting

jFIAT contracts (Polygon)

jEUR: 0x4e3decbb3645551b8a19f0ea1678079fcb33fb4c
jCHF: 0xbD1463F02f61676d53fd183C2B19282BFF93D099
jGBP: 0x767058F11800FBA6A682E73A6e79ec5eB74Fac8c
CoinGecko: https://www.coingecko.com/fr/pi%C3%A8ces/jarvis-reward-token

How to Farm $AUR (comprising JRT + UMA + KNC)

Visit KyberSwap.com
Make sure you are on the Polygon network.
Visit the Pools page and add liquidity for the eligible jEUR-USDC, jGBP-USDC, jCHF-USDC and AUR-USDC pools, which has a raindrop 💧 icon (you will receive LP tokens representing your pool share).
Go to the Farm page and stake your LP tokens on the jEUR-USDC, jGBP-USDC, jCHF-USDC and AUR-USDC farms. You will start receiving $AUR rewards, which can be harvested and claimed anytime as there is no vesting period.
You can sell $AUR tokens right away or wait till the end of the program to burn them to redeem the $JRT, $UMA and $KNC held in the reserve. Burning $AUR happens on the Jarvis Yield application.

Apart from adding liquidity for and farming $AUR, you are also able to trade jEUR, jGBP, jCHF and AUR tokens on KyberSwap by navigating to the Swap page. We look forward to working closely with the Jarvis Network team on future collaborations!

Learn more about Jarvis Network

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.