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Stake KNC And Enjoy "Gasback" |
KyberSwap has implemented a gas refund program following strong community support in our governance forum and feature request page. KNC stakers are now able to enjoy gas refunds for swaps completed on Ethereum. Based on the amount of KNC staked, users will be able to recoup an increasing proportion of the gas fees incurred when trading on KyberSwap. Gas refunds are in KNC and can be claimed at the end of each 2-epoch cycle (~every 4 weeks).
The Gas Refund Program will make trading on KyberSwap even more efficient and align incentives between KNC holders and KyberSwap users. KyberSwap’s Gas Refund Program will launch in beta only on Ethereum initially, but we have plans to expand to other popular chains such as Polygon, Arbitrum, and Optimism.
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User guide: Stake KNC And Enjoy Gas Savings
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Users are required to stake a minimum of 500 KNC via the staking portal. The proportion of gas refunded from each swap is based on the user's staking tier which is in turn based on the total KNC staked.
| Staked KNC | Gas Refund |
|---|---|
| 500 KNC | 10% |
| 5,000 KNC | 15% |
| 10,000 KNC | 20% |
For a swap to qualify for gas refunds, KNC holders must continue to stake their KNC for the whole period between the first swap in the epoch and the day of gas distribution itself (i.e. ~4 weeks).
The value of each trade needs to be worth ≥USD200; calculated at the point of the trade.
- Each user has a maximum cap of $200 worth of gas refunds every 2 epochs (~4 weeks).
- Gas refund program only covers successful swaps on Ethereum. It does not cover failed swaps and gas incurred from token approvals.
- Gas refunds will be calculated in USD at the point of the swap and immediately converted to it's KNC equivalent. Gas refunds will be distributed in KNC and you can view your accumulated KNC from the utility UI.