Liquidity Mining Comes to Kinesis
We are excited to announce that Kinesis Labs is beginning part 1 of its liquidity mining campaign. 99,000 Evmos will be distributed over the next two months to the DAI, USDC, and USDT pools.
What is Kinesis?
Kinesis is the native stableswap of Evmos, providing users with the lowest slippage when swapping stablecoins. Kinesis will host multiple base pools consisting of various bridged stablecoins where users can easily swap between stablecoins, bridges, and ecosystems. Through Kinesis, stablecoin interoperability can occur in the Evmos ecosystem. Kinesis will become the exchange hub for multichain assets, wrapped IBC assets, and all stablecoins from various chains and ecosystems.
Kinesis enables efficient, swift, and low-slippage swaps for traders and high-yield for liquidity providers. We believe in collaboration, in maximizing the interoperability of Kinesis, and in building the foundation for a stablecoin ecosystem for Cosmos.
What are the Rewards?
There are currently three pools with rewards.
DAI Pool
Link to Pool: https://app.kinesislabs.co/#/pools/DAI%20Pool/deposit
Pool Composition: Axelar DAI, Celer DAI, Gravity DAI
Rewards: 19k Evmos distributed over 2 months
USDC Pool
Link to Pool: https://app.kinesislabs.co/#/pools/USDC%20Pool/deposit
Pool Composition: Axelar USDC, Celer USDC, Gravity USDC
Rewards: 50k Evmos distributed over 2 months
USDT Pool
Link to Pool: https://app.kinesislabs.co/#/pools/USDT%20Pool/deposit
Pool Composition: Axelar USDT, Celer USDT, Gravity USDT
Rewards: 30k Evmos distributed over 2 months
Where do I start?
Head over to https://kinesislabs.co to get started!
If you want to learn more about the project, click the docs. If you want to begin providing liquidity or swapping stablecoins, click enter the app.
Providing Liquidity
Go to https://app.kinesislabs.co/#/pools and click Deposit on the pool you want to deposit into.
Enter in the amounts you want to provide liquidity for and click Deposit. If the slippage is too high, your transaction will revert! It is best to deposit at a even ratio at the start, ie 1000 Axelar USDC, 1000 Celer USDC, 1000 Gravity USDC, otherwise you could suffer from slippage!
The Review Deposit modal will pop up, giving a summary of LP tokens you are receiving, and also your share of the pool. Make sure to click and approve of the MetaMask notifications once you click Confirm Deposit!
Staking LP Tokens
In order to receive rewards, you need to stake LP tokens into the MiniChef contract. This is located in the Deposit Page.
Click the Stake All Button to begin staking your LP tokens, you can unstake at any time. Afterwards, approve your LP tokens and stake your LP tokens in the Metamask pop-ups.
You can claim the Evmos without unstaking your LP tokens with the Claim All button. Alternatively, you can unstake your LP tokens and claim all associated Evmos rewards with the Unstake All button.
