AERGONAUTS And KLAYswap: The Great Listing: What Does This Mean For AERGONAUTS?
AERGO, one of the largest hybrid blockchains based out of South Korea, is going to be listed on KLAYswap, a decentralized crypto asset finance protocol that enables users to provide liquidity and garner rewards. KLAYswap is a complete and automated on-chain swap protocol that operates and leverages on-chain liquidity pools. Liquidity is guaranteed through automated market making mechanisms. KLAYswap enables on-chain swap services for any KLAY or KCT-type token cryptocurrency to become a liquid provider and earn passive income from transaction fee commissions. For AERGOnauts, this enables AERGO token holders to participate in a passive income paradigm simply by utilizing the KLAYswap platform. Now how does this on-chain swap work, it is enabled through a specific innovation, known as the Orbit Bridge.
On KLAYswap, ERC-20 tokens can be transferred throughout the Klaytn ecosystem via a technological innovation known as the Orbit Bridge, a transparent and immutable bridge built on Orbit Chain which in return offers yield farming with assets that were previously disconnected and unable to communicate with one another before the inception of such an innovation. KLAYswap is built on one of the most prominent and secure blockchain protocols within the realm of cryptocurrency, the Klaytn ecosystem, which was created by Kakao. Kakao is one of the most publicly traded Fin-Tech companies in South Korea and has a market capitalization of approximately 30 billion dollars. KakaoTalk is utilized by over 90% of the South Korean populace and KakaoTaxi is the most widely used transportation service throughout the country. AERGO, with a massive foothold within South Korea, has been successfully able to partner with Klaytn and through this partnership, AERGO will have increased liquidity, immutability and the ability for investors to garner passive income by participating in liquidity pools on the network.
The AERGO Listing: What This Means For AERGONAUTS and The Klay Community: The Great Airdrop
AERGO is one of the largest blockchains within South Korea, with an extremely development team that has been actively been working with KLAYswap and Orbit Bridge. Today, we’re excited to announce that AERGO will be listed on KLAYswap and an airdrop event will occur as a result of this enhancement of liquidity on KLAYswap! The KAERGO-KLAY LP will airdrop over 300,000 KAERGO tokens to all liquidity providers of the KAERGO-KLAY LP. Wallets that provide liquidity to the KAERGO-KLAY pools will be distributed KAERGO on the basis of the share ratio of that specific wallet. AERGONAUTS will notice that KAERGO is linked to the Orbit Bridge chain that enhances interoperability and communication between chains that have been integrated into the platform; this includes AERGO. KAERGO is the Klaytn version of AERGO, the native token of the AERGO platform that has been bridged over to the Klaytn ecosystem through the utilization of Orbit Bridge.
Participation In The Airdrop: Active Community Involvement: How And When To Connect To KLAYswap
The way for community members to participate in the airdrop is as follows. It is necessary to provide liquidity to the KAERGO-KLAY liquidity pool to receive the airdrop during the event period. To provide liquidity to the KAERGO-KLAY pool, you must have one of those two assets and both can be converted to Klaytn Network assets using the Orbit Bridge. The airdrop event will start on September 16th and end on October 15th and will drop 300,000 Aergo Tokens. Below is a guide to assist you with providing liquidity on the KLAYswap protocol.
Provide Liquidity To The KAERGO-KLAY Pool
This liquidity measure will depend on the coins you have in your wallet, you may choose KAERGO-KLAY as options. If you choose a singular token option, half of the deposit will automatically be converted into the other pair to be deposited into the liquidity pair. Provided below is a Medium article to assist you as well.
It is important to reference that to receive cross-chain assets on Klaytn Network, you must have a Klaytn Network based wallet such as Kaikas, which is a web based wallet, or Klip, which is a mobile based wallet.
How To Convert Via Orbit Bridge To Klaytn: Cross-Chain Management
There are a few steps one must take to convert assets through Orbit Bridge, and I wanted to create a step-by-step guide to assist AERGONAUTS in doing so.
Step 1. Select A Coin Or Validator
Step 2: Choose the base chain to convert from, and to. Enter the amount of asset, and the address to receive the assets in.
Make sure all information you plugged in is correct, if it isn’t correct and you press convert, your funds maybe lost!
Step 3: Confirm the entered information, then allow Metamask to confirm the transaction.
Check all information within the Bridge confirmation window prior to pressing “Confirm.” Afterwards, press “Confirm” within MetaMask to confirm the transaction, to complete the transfer over to Klaytn Network.
Step 4: Checking the asset deposited in a Klaytn-based wallet
To check the balance of the sent asset, use [Add Token] menu to add the asset.
To find token contract addresses, please visit the following Klaytn explorer link
Klaytn Scope (Explorer): https://scope.klaytn.com/tokens
*KLAYswap website: https://klayswap.com
*To use KLAYswap, you must have Klaytn Network-based wallet such as Kaikas (Web-based) or Klip (Mobile).
Step 5: Connecting Your Wallet
Step 6: Choose A Liquidity Pool To Deposit Into
Step 7: Use The Deposit Button After Checking All The Information
If you’re using the liquidity pool for the first time, approval maybe required. When prompted, press approval. This will automatically trigger a transaction request to Kaikas wallet, which you can verify by clicking on the “Confirm” button.
Step 8: Confirm The Deposited Asset In The Pool And How To Claim Rewards
When the deposit is complete, the applicable reward rate to the pool is distributed to the depositer in real time. The deposited assets can be checked in the “My Deposit” section while rewards can be checked with the “Claim Rewards” section.
Conclusion: An Exciting Initiative: An Expansion For AERGO and Klaytn
The AERGO team is pleased and excited to be part of one of the largest liquidity-pool-yield-farming protocols within the blockchain sphere, KLAYswap. As South Korean companies, this partnership is set to continuously foster and flourish as the two communities and chains interconnect and interact with one another resulting from this initiative. For those who own AERGO token, we cordially invite you to participate in this event to receive free KAERGO tokens. This is an exciting step for the AERGO project, and we look forward to sharing more announcements with you soon!
Disclaimer: Cryptocurrency investing and gambling requires substantial risk, do not invest or gamble more than you can afford to lose! I am not a financial adviser and I am not responsible for any of your trades. It is incumbent that you always do your own research before investing in anything!