Kyber Network will restart farming in Elastic pools


DeFi project Kyber Network will resume the possibility of farming income using the Elastic product, which implements the concept of concentrated liquidity and autocompounding.

According to the developers, Arbitrum-based pools will be the first to start working, where rewards will be “100% increased”.

Representatives of Kyber Network stressed that early-stage liquidity providers will benefit the most.

They also assured that smart contracts have been updated, verified and include “strengthened security measures”.

For the current phase of farming, 274,000 KNC and 152,000 ARB have been allocated to reward users.

Recall that in April, the Kyber Network team recommended that liquidity providers withdraw funds from the Elastic product after discovering a potential vulnerability.

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