Joint Liquidity Mining w/ xToken on KyberDMM

Project Introduction

xToken is a DeFi protocol that wraps complicated staking and liquidity strategies into convenient and composable set-and-forget ERC20 tokens. xTokens are free-floating ERC20s that can be sent from wallet to wallet, added to liquidity pools and pledged as collateral for loans. They save users time and money, and they distill intricate token mechanics into simple buy-and-hold strategies while providing an opinionated governance option for users.

Proposal Summary, Motivation and Key Details

xToken is proposing a joint liquidity mining program with Kyber to help improve liquidity for XTK while driving volume and xToken users to the KyberDMM exchange.

During the program, liquidity providers who deposit XTK and ETH into the eligible pool will receive LP tokens that can be staked on the Yield page for additional XTK and KNC rewards. As part of the program, xToken will work jointly with Kyber to market the pools to their respective communities, and new members. On top of the KNC liquidity incentives, Kyber will help with PR and marketing activities for this joint mining campaign - offering additional KNC rewards.

As a longstanding partner with Kyber, xToken makes a strong candidate for the Rainmaker Liquidity Mining program. As Kyber staking ramps back up with the new and improved KNC token model, xKNC will once again be an active contributor to KyberDAO.
Although the incentivized pool will be an XTK-ETH pool, we believe that a rewards program would serve to strengthen the relationship between our communities while increasing participation in Kyber staking via greater visibility for xKNC’s set-and-forget model. This will ultimately drive more KNC to be staked and participating in KyberDAO.

The core xToken team is a reputable, non-anonymous group of engineers and analysts who have shown resilience building over multiple DeFi cycles. xToken has an ambitious roadmap and has been on a torrid development schedule, with TVL increasing significantly in the past month alone.

KNC amount requested

$100k in KNC incentives

Project Contribution:

xToken commits to incentivizing the pool with $200k worth of XTK for 8 weeks. The performance of this first campaign can be used as a reference for future campaigns together.



Token Pair Option



14 days vesting

Campaign start date and duration

September 1st - October 27th (8 weeks)

Project Details



xKNCa address: 0x0bfEc35a1A3550Deed3F6fC76Dde7FC412729a91

XTK address: 0x7f3edcdd180dbe4819bd98fee8929b5cedb3adeb



Thanks for putting up this proposal @AB3. Both myself and @AB3 are from the xToken team. For a little background, the very first xToken we released was xKNC, which is a wrapped version of KNC that participates in the KyberDAO governance and staking process. We’re big fans of Kyber, and have worked closely with the team over the past year to adapt our products as they rolled out the new version of KNC and the KyberDMM. We’re super excited to work with the community here, and let us know if we can answer any questions or concerns. Thank you!


xToken and Kyber has good connection from the beginning, i’m pretty happy seeing you guys join liquidity mining program with each other.

The value xToken brings to the DAO is it plays the role of largest decentralized staking pool for KNC and helps solve gas problems for small KNC stakers. On the other words, xToken helps KNC DAO a lot. In the past, I see xToken did liquidity mining as well and it got a lot of traction back then, this should be a good chance for both xToken and Kyber community to gain more traction.

Will vote Yes.


I am in favour of this proposal.

xToken is one of the few solutions that abstracts away the complexities of DAO governance by staking, claiming and distributing rewards on the behalf of users in an efficient manner. xToken also helps users save time and money with its simple buy-and-hold strategies while providing opinionated governance options. In addition, xToken has been a KyberDAO partner and a strong KNC supporter since the inception of KyberDAO. It is a natural next step for Kyber and xToken to collaborate on a joint liquidity mining campaign using the capital efficient KyberDMM!


Yes, I am in favor of this!


I’m all for this proposal! The conditions are sound and xToken has been partners with Kyber for a long time so a joint LM would be mutually beneficial to strengthen both parties. As a Dapp, xToken may be new but by the look on their website it has good potential. Those who delegate their votes to may already be more familiar with how much more efficient and cost-saving this platform can be. Hopefully this collaboration would bring forward the same convenience and advantage to the KyberDMM.


Nice to see another new joint mining campaign proposed. looks like Kyberdmm is getting more popular by the day! xToken is used by other blue chip defi projects like aave and synthetix. would be a good move by Kyber to work with them to increase awareness of Kyberdmm and KNC! Will vote yes for this


supporting this proposal! we need a lot more collabs with defi projects

1 Like

I am in favor of this proposal.

1 Like

I like this proposal and will vote for it! but with the recent exploit that occurred (unrelated to kyber), we might want to start the yield farming campaign at the end of Sep instead so that market sentiment is better

Great proposal. I agree with this.

Great! XToken has been working closely with Kyber for a long time, and I have used it for delegate voting, and the experience is very smooth. I believe that if additional LM activities are also a natural thing to happen, absolutely no problem!

It is great that the xToken team also supports it! We know about this project and would like to see it at KyberDMM! :tada: