KyberSwap Partners with Sipher on $50 Million Liquidity Mining Campaign to Provide the Best Liquidity and Rates for the SIPHER token
By: Kyber Network
Tags: Crypto, Blockchain, English, Featured, Ethereum

KyberSwap Partners with Sipher on $50 Million Liquidity Mining Campaign to Provide the Best Liquidity and Rates for the SIPHER token

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

Kyber has been increasing both the number and liquidity of key token-pair pools on KyberSwap. One of our key initiatives is working with very promising projects such as Sipher to incentivize users and boost liquidity together!

Sipher Collaboration with $50M in Rewards

These joint initiatives with popular projects on Ethereum continue with a whopping ~$50M+ liquidity mining campaign with Sipher — one of the biggest GameFi campaigns ever!

Sipher is a MOBA and Exploration Game with an end-game goal of creating an Open World Social Game. Based on ERC-721, the 1st collection of 10,000 characters, Sipherian Surge, belongs to the SIPHER INU race, with more races to be added over time. Sipher recently raised $6.8M in a private sale and over $44M in a public sale.

Sipher’s Vision:

SIPHER Token: $SIPHER is the token at the center of Sipheria, serving important functions like the creation of new characters, payment of market transaction fees, allowing the purchase of specialty items, and more. However, its functions extend beyond that. $SIPHER will provide players with a unique opportunity to participate in the governance of the game, helping shape the future of Sipheria.

KyberSwap allows $SIPHER 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.

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 optimize returns for LPs.

that react to market conditions and optimize returns for LPs. Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.

Add liquidity on KyberSwap now!

Trade at the Best Rates on KyberSwap

KyberSwap guarantees much better rates on Ethereum for $SIPHER traders compared to trading on individual DEXs. This is possible via Dynamic Trade Routing which aggregates liquidity from multiple DEXs, including our own capital-efficient KyberSwap pools!

Liquidity providers can now add any amount of liquidity to the eligible SIPHER-ETH pool on KyberSwap on Ethereum to get liquidity provider (LP) tokens and unlock their share of the $50M in liquidity mining rewards over the next two months.

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

Important Details

Start time for KNC rewards: block 13801200. ~12:00PM GMT+7 14/12/2021

End time for KNC rewards: block 14401200 (~3 months later)

Start time for SIPHER rewards: ~12:00PM GMT+7 14/12/2021

End time for SIPHER rewards: ~12:00PM GMT+7 14/12/2022 (~1 year later)

Rewards: 150,000 KNC and 50,000,000 SIPHER (~$50M in total)

Campaign Duration: 12 months for SIPHER rewards, 3 months for KNC rewards. After 3 months (once all KNC rewards are distributed), users still have to continue staking in the KyberSwap farm to mint the staked LP token that allows them to claim SIPHER rewards on the Sipher portal.

Vesting: 14 days for KNC, 12 months for SIPHER

SIPHER-ETH Pool: https://kyberswap.com/#/pools/0x9F52c8ecbEe10e00D9faaAc5Ee9Ba0fF6550F511/ETH

SIPHER Token Address: 0x9f52c8ecbee10e00d9faaac5ee9ba0ff6550f511

SIPHER Coingecko: https://www.coingecko.com/en/coins/sipher

Campaign Structure

~12-month campaign with $50M in rewards (3 months for the KNC rewards portion)

Although the start time for yield farming rewards is ~12:00PM GMT+7 14/12/2021, liquidity providers can already start adding liquidity to the SIPHER-ETH pool now to start preparing!

How to Farm $SIPHER and $KNC

Visit KyberSwap.com Make sure you are on the Ethereum network and have some ETH tokens for gas transaction fees on Ethereum.

3. Visit the Pools page and add liquidity (deposit SIPHER + ETH tokens) into the eligible SIPHER-ETH pool, which has a green 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 SIPHER-ETH farm. Once approved, stake your LP tokens on the SIPHER-ETH farm.

You can just click MAX if you want to stake all your LP tokens. You will receive a new Kyber Staked LP Token or SLP that represents your staked LP position.

5. For KNC rewards, you will start receiving them immediately on KyberSwap.com (after the start time of ~12:00PM GMT+7 14/12/2021), and they can be harvested anytime.

6. Yield farming SIPHER rewards is a little more special. After staking your LP tokens, you will receive another Kyber Staked LP (SLP) token representing your staked SIPHER LP position. This special token can then be deposited on the Sipher portal https://sipher.xyz/stake/deposit/kyber-slp-sipher-eth to generate SIPHER rewards, which also have to be claimed there.

~$50M in liquidity incentives will be distributed in total!

Visit the Sipher portal: https://sipher.xyz/stake/deposit/kyber-slp-sipher-eth, connect your wallet and APPROVE your tokens for staking. Choose between the Flexible or Locked option. Stake your Kyber SLP tokens there to start earning SIPHER rewards!

Read more about staking Kyber Staked LP tokens (SLP) on the Sipher portal: https://atlas.sipher.xyz/sipher-staking-instructions

More details here: https://medium.com/sipherxyz/sipher-staking-instructions-b96d900a5d5c

7. After receiving KNC rewards on KyberSwap, you can Harvest your KNC rewards whenever you want. When you harvest KNC rewards, a 14-day vesting period starts, with rewards unlocking at every block.

8. Go to the Vesting tab to claim rewards once they are unlocked. Claim all unlocked KNC rewards after the vesting period of 14 days. Unlocked rewards can be claimed anytime.

9. For SIPHER rewards, they have to be claimed on the Sipher portal https://sipher.xyz/stake/deposit/kyber-slp-sipher-eth. Remember, to generate SIPHER rewards, you need to have first staked your Kyber SLP tokens (the new token you receive when you stake KyberSwap LP tokens on the KyberSwap farm) on the Sipher portal.

10. To Remove liquidity: First unstake your LP tokens on the KyberSwap 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 remove liquidity.

Watch this example video for detailed instructions on Yield Farming!

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

You can also trade $SIPHER, $USDC, $USDT, $ETH and many other tokens at the best rates by navigating to the ‘Swap’ page. Read this user guide on how to use KyberSwap! If you have questions, join our Discord.

“KyberSwap is excited to collaborate with the Sipher team to give the best token swap rates for $SIPHER and support users to start this new blockchain game more seamlessly. We expect GameFi to continue to grow at an extremely fast pace and become a driving force behind mainstream crypto adoption.” — Loi Luu, CEO and Co-Founder, Kyber Network

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

Spread the love! https://twitter.com/KyberNetwork/status/1470380012758913026

About Sipher

Sipher is a casual MOBA and Exploration Game with an end-game goal of creating an Open World Social Game. Built as ERC-721 Blockchain, the 1st collection of 10,000 characters, namely Sipherian Surge, belongs to the SIPHER INU race.

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