This is a draft KIP. Specific details and numbers are yet to be determined and subject to changes. Please help to provide your feedback in this thread.
KyberDAO received a total of 1,158,932 ARB tokens from the Arbitrum Foundation on 24/04/2023 as a reward for KyberSwap’s various contributions to the ecosystem.
A substantial portion of the ARB has already been distributed to KyberSwap LPs (liquidity providers) as yield farming incentives on Arbitrum.
KyberSwap has since grown to be a Top 7 DEX on Arbitrum in terms of trading volume generated, and a big driver of our success is definitely the combined efforts of our valued traders and LPs!
To incentivize further growth on Arbitrum and reward active users, the KyberSwap team is proposing that % of the remaining ARB held in the KyberDAO multisig (% of ~661,394 ARB) be retroactively distributed to selected traders and LPs on KyberSwap who meet the qualifying criteria.
Since the ARB was first awarded to KyberDAO by the Arbitrum Foundation, in this KIP, KyberDAO would have the responsibility to vote on whether to Accept or Reject this proposal.
This KIP was first proposed on the governance forum here.
It is imperative to show the Arbitrum community that KyberSwap is committed to growing the ecosystem and that KyberSwap values and rewards our most active users and strongest supporters. This would in turn encourage them to recommend even more users to KyberSwap via word-of-mouth and social media channels, fostering a sense of community and long-term engagement and retention.
- ARB (% of ~661,394 ARB)
- ~2,000 addresses who meet at least 1 of the qualifying criteria on Arbitrum
- 26/03/2023 to 06/10/2023 0:00 AM SGT (GMT+8)
- A snapshot of eligible addresses during the qualifying period would be taken in advance.
The KyberSwap ARB airdrop will be distributed based on a set of qualifying criteria to ensure that only the most active and value-adding KyberSwap users are rewarded. The higher the number qualifying actions completed by the user, the greater the reward.
- KyberSwap traders on Arbitrum that completed an average of 3 swaps per month within [y] months
- KyberSwap traders on Arbitrum with a total cumulative trading volume of $
- KyberSwap LPs on Arbitrum who add a minimum of $ worth of liquidity on Elastic pools
- KyberSwap LPs on Arbitrum who earned $ amount of fees
- Note: USD equivalent of liquidity held on Arbitrum Elastic pools by the LP have to be at least $ for a minimum of [y] months in order to be eligible for the ARB reward.
KyberSwap users who qualify and receive the ARB airdrop can subsequently participate in the multiple ongoing ARB-paired farms to earn even more rewards.
This proposal is just the first of many exciting ways KyberSwap can potentially show our appreciation to loyal users and the wider Arbitrum community. As KyberSwap grows and achieves greater milestones over time, users that actively contribute and add value can expect to have a share in our success as well.