Pegaxy Enhances Liquidity for $PGX with KyberSwap

Pegaxy has chosen the highly capital efficient KyberSwap for enhanced token liquidity on Polygon, with ~$1.3M+ in $PGX and $KNC liquidity mining rewards!

Published in

Kyber Network

5 min readNov 6, 2021

KyberSwap is an innovative and capital efficient DEX protocol that achieves the best rates for traders through liquidity aggregation, while providing higher, capital-efficient returns for liquidity providers via amplified pools and dynamic fees.

The Polygon ecosystem has greatly benefited from KyberSwap, which has brought both capital efficiency and optimized returns to Polygon liquidity providers and token traders. Polygon users previously enjoyed a $5.5M ‘Rainmaker’ liquidity mining campaign on KyberSwap, which incentivized pools on Polygon and resulted in the KyberSwap reaching record highs as one of the fastest growing projects on Polygon shortly after its launch.

The Kyber Network community has since been voting on promising projects on Polygon to increase both the number and liquidity of key token-pair pools on KyberSwap.

Pegaxy Collaboration

These joint initiatives with popular Polygon projects continue with a ~$1.3M+ (updated) liquidity mining campaign with Pegaxy! Pegaxy is an exciting play-to-earn PVP horse racing game where players compete for top 3 placement against 11 other racers. Using strategic upgrades, food and skill, players must place in the top 3 to earn the platform’s utility token, VIS (Vigorus). Pegaxy is governed through the PGX governance token. Pegaxy just completed a successful token sale for their PGX token!

KyberSwap allows $PGX LPs to maximise 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 react to market conditions and optimise returns for LPs.
Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.

Trade at the Best Rates on KyberSwap

In addition, $PGX traders on KyberSwap get much better rates on Polygon compared to trading on individual DEXs. This is possible via our new Dynamic Trade Routing feature which aggregates liquidity from multiple DEXs including our capital-efficient KyberSwap pools!

From ~6th Nov at 5pm GMT +8, liquidity providers can add any amount of liquidity to the eligible PGX-USDT pool on the KyberSwap on Polygon to unlock their share of the ~$1.3M in $PGX and $KNC liquidity mining rewards over the next two months.

PGX rewards can be added back to the PGX-USDT pool to earn even more rewards and as the governance token of Pegaxy, can be utilized in staking as well as transaction and breeding fees on the Pegaxy platform.

KNC rewards received can be staked on KNC pools or KyberDAO for additional KNC rewards or on KrystalGO for their token sale allocations.

Important Details

Start time: November 6, 5pm GMT+8
End time: January 6, 5pm GMT+8
Reward: ~$1.3M in PGX and KNC
Campaign Duration: ~2 months
Vesting: ~14 Days
PGX Token Address: 0xc1c93D475dc82Fe72DBC7074d55f5a734F8cEEAE
KNC Token Address: 0x1c954e8fe737f99f68fa1ccda3e51ebdb291948c
PGX-USDT Pool: https://polygon-info.dmm.exchange/pool/0x3f1f398887525d2d9acd154ec5e4a3979adffae6
PGX token on CoinGecko: https://www.coingecko.com/en/coins/pegaxy-stone

Campaign Structure

~2-month campaign with $100K in KNC and 5M (~$1.2M) in PGX
Bonus (Conditional): Campaign may be extended to 3 months with additional pools and bonus KNC rewards depending on the price of PGX!

How to Farm $PGX and $KNC

Visit KyberSwap
Make sure you are on the Polygon network and have some MATIC tokens for gas transaction fees on Polygon.

3. Visit the Pools page and add liquidity (deposit PGX and USDT tokens) into the eligible PGX-USDT pool, which has a raindrop 💧 icon. You will receive Liquidity Provider (LP) tokens representing your pool share after you add liquidity.

4. Next, go to the Farm page and click Approve on the PGX-USDT farm. Once approved, stake your LP tokens on the PGX-USDT farm. You will start receiving PGX and KNC rewards, which can be harvested anytime.

5. Harvest your rewards whenever you want. When you harvest rewards, a 14-day vesting period starts, with rewards unlocking at every block.

6. Go to the Vesting tab to claim rewards once they are unlocked. Claim all unlocked PGX + KNC rewards after 14 days (14-day vesting starts each time you harvest rewards). Unlocked rewards can be claimed anytime.

7. To remove liquidity, first unstake your LP tokens on the Farm page, then go to the My Pools page to view and remove your liquidity position. For more details, read this guide on how to removing liquidity.

Watch this example video for detailed instructions on PGX Yield Farming!

As mentioned above, KNC rewards received can be staked on KNC pools or KyberDAO for additional KNC rewards or on KrystalGO for Token Sale allocations.

You can also trade $PGX, $USDC, $USDT and other tokens at the best rates by navigating to the Swap page.

We look forward to working closely with the Pegaxy team on future collaborations!

Spread the love: https://twitter.com/KyberNetwork/status/1456920628749996034

About Pegaxy

Pegaxy (Pegasus Galaxy) is a racing game with futuristic mythological styling. Pega (the horses) are descendants of the mighty Pegasus. In this game, players will participate in PvP format races with randomised elemental variables to win rewards in the platform’s native utility token, VIS (Vigorus). Within the game, players are able to breed, rent, sell, and of course race their Pega to earn VIS tokens.

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.