$KNC goes live on Aave V3 Ethereum

Kyber Network has announced that its native token, $KNC, is now live on Aave V3 Ethereum. However, the announcement is pretty young, and more details about the listing and responses from the community are awaited. Kyber Network has recommended traders do their own research before executing a trade and not get distracted by the mentions of a third party since they do not constitute endorsements.

The announcement has not had a positive impact on $KNC. The token continues to slip, with the most recent one coming in at 6.55% in the last 24 hours. The value of the token was $0.6466 at the time of articulating this piece.

This is not the only development that is keeping the community on the edge of their seats. Kyber Network is simultaneously hosting the first five Elastic Farms on Scroll. Participants stand a chance to win rewards in $KNC. Scroll LPs will be rewarded from a pool of over 77k $KNC. All they have to do is add liquidity and farm to earn the fees. This is on top of the reward in $KNC.

The idea behind hosting the event is to boost the seamless farming experience. Users will be able to customize the range based on their strategy to earn. A total of six pairs have been activated:

  • USDC-ETH
  • USDC-USDT
  • USDC-DAI
  • USDT-ETH
  • WBTC-ETH
  • KNC-ETH

The event has been titled Learn to Earn #21 and is all set to happen on October 20, 2023, at 8 a.m. UTC. The topic for the event is Exploring Scroll at the Discord channel of KyberSwap. The top 20 winners will be selected for a prize pool of 500 $KNC.

$KNC has gone live on Aave V3 Ethereum days after KyberSwap announced going live on Scroll. It is now the only DEX aggregator. Users can dive into powerful aggregation capabilities while leveraging the benefits of superior swap rates, low slippage, and low price impact.

Kyber Network is coming fresh from an association with Axelar Network. The partnership is hosting the USDC-axIUSDC farms across five chains, namely Avalanche, Polygon, Arbitrum, Optimism, and Linea. Users stand a chance to earn rewards in $KNC and $AXL. A share from the pool will be rewarded provided they farm and maximize their assets with concentrated liquidity plus full-fee auto-compounding.

KyberSwap recently integrated with eZKalibur, serving as a liquidity source in its DEX aggregator routing on zkSync. This brings more liquidity to traders at competitively superior rates. Another similar partnership is with Wagmi, going on X, formerly Twitter, as PopsicleFinance. KyberSwap serves as a liquidity source on zkSync again.

As for the most recent and relevant update, $KNC is live on Aave V3 Ethereum. Kyber Network is expected to share more details about the development in the days to come. A response from the community is also awaited since the announcement is the most recent and pretty young at the time of drafting this article.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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