Since the start of our Gas Refund Program beta for KNC stakers in mid-July, the Kyber team has been working hard to improve the current version. We are in the process of designing a new and more efficient program that can better match the needs of different KyberSwap traders.
The purpose of this post is to gather community feedback, improvement ideas and discussion among members. Let us know what you think of the gas refund program and suggest more ideas! We highly encourage everyone to participate in the discussion!
This new version aims to be much more competitive in terms of gas refunds, staking tiers and number of eligible chains.
First of all we plan to expand the program to ~10 chains.
KyberSwap users will soon be able to get up to 95% of their gas refunded in:
- Ethereum, Arbitrum, Optimism, Polygon, Base, ZkSync, Linea, Scroll, Avalanche and BNB Chain.
The new version will have 5 staking tiers, with each tier requiring a different amount of KNC staked in KyberDAO, giving different percentage refunds and monthly limits.
This program has been designed to match the needs of different traders on KyberSwap, from small portfolios with low trading activity to “whale” traders that have much bigger and frequent trades.
To be eligible to participate in the gas refund program, users need to:
- Stake a minimum of 500 KNC.
- Swaps on eligible chains on Kyberswap.com only.
- Keep KNC staked from the day of the eligible swap to the day of the gas refund distribution (up to ~4 weeks).
- No minimum swap value to be eligible for gas refunds.
- Except for Tier 5, there is no minimum monthly trading volume.
- Token approvals and reverted transactions are not eligible for gas refunds.
- A maximum cap of ~$70,000 worth of KNC in total gas refunds may be distributed per month on KyberSwap.
- Staking KNC and claiming gas refunds are only possible on Ethereum at this stage. We are looking into solutions to make claiming available on other chains in the future. There is no expiry date for unclaimed KNC refunds, no rush!
Community inputs are important to improve KyberDAO and KNC utility. If you have any ideas for our new Gas Refund Program or other features, feel free to share your opinion below in this forum thread.