Find out the way to earn high APY LP rewards on Sui DeFi with KriyaDEX campaigns in this article!
KriyaDEX is one of the early pioneer decentralized exchanges in the Sui Ecosystem. Their goal is to build an institutional-grade trading infrastructure powered by Move language. Users can swap at competitive prices using their cross-protocol router and AMM-based spot exchange. Additionally, they are one of the first few DEXs to have integrated Deepbook, Sui’s native limit orderbook. Seasoned traders can access pro features like limit orders, candlestick charts, etc. on KriyaDEX’s pro trading terminal. If you’re new to Sui DeFi, KriyaDEX also has an in-app bridge powered by Wormhole.
Their goal is to be as good as a centralized exchange on-chain, a one-stop platform to access the best of Sui DeFi. The next big release in the pipeline is leveraged perpetual. Users will be able to trade $SUI with up to 20x leverage on KriyaDEX soon.
Current Campaigns on KriyaDEX
KriyaDEX is currently running two campaigns for users to earn while trying out their DApp.
- Suinami Liquidity Campaign
- Chakra Campaign Season 1
Suinami Campaign helps users earn real-time $SUI rewards for their activity on KriyaDEX.
The Chakra Campaign on the other hand enables users to earn $KRIYA (KriyaDEX’s token) as well as WL opportunities in the KriyaDEX IDO based on their Chakra Level
How to participate?
The Suinami campaign is mainly an effort to increase liquidity on KriyaDEX. Each week, users are rewarded from a pool of $SUI tokens based on their share of the LP Pool.
For example, these are the rewards for this week (18th July 2023 - 25th July 2023):
At KriyaDEX’s current TVL, these rewards are insanely high. There is surely a good payout for being early.
For example, if a user adds 1000 USD worth of liquidity in the SUI-USDC pool on 18th July and keeps that liquidity added till 25th July, they will earn 802.43 SUI, even if the TVL doubles, a user can still earn 401.2 SUI, which is very attractive APY for parking funds for a week
Guide on adding liquidity on KriyaDEX
Step 1: Head to https://app.kriya.finance/spot/liquidity, you will see 4 pools.
Step 2: Click on the ‘+’ icon next to any pool, and the ‘Add Liquidity’ panel appears.
Step 3: Enter the number of tokens you want to supply to the pool. The second token amount will be auto-filled.
Step 4: If you don’t have both tokens, no worries, using KriyaDEX’s single-side LP feature, you can just supply 1 token and KriyaDEX will automatically swap 50% of the token and add liquidity.
Step 5: That’s it, you’re done. You can track your LP position in the ‘Portfolio’ tab https://app.kriya.finance/spot/portfolio.
Step 6: There is no need to lock your LP tokens anywhere, $SUI rewards will automatically keep getting accumulated as long as your liquidity is deployed. You can track your rewards at: https://app.kriya.finance/rewards.
Step 7: Click on the ‘Claim’ button next to your $SUI reward value. As you sign the txn, $SUI rewards will be credited to your wallet, and the value of the unclaimed rewards will reset to 0.
Now let’s explore the second campaign and what we can do to earn $KRIYA rewards.
Chakra Campaign Season 1
With Chakra Campaign, KriyaDEX is trying to boost overall activity on the platform and test the technology with high traffic. The Chakra Campaign Season 1 began on June 6th, 2023, and will probably go on till the $KRIYA IDO or till Season 2 begins, the team hasn’t confirmed yet.
In the Chakra campaign, users accrue a score based on the swap volume they generate as well as the liquidity they add in different pools. The score one earns is directly proportional to the share of the $KRIYA reward pool they get. In Season 1 of the campaign, KriyaDEX is rewarding 500,000 $KRIYA tokens (which is a healthy 0.5% of the total supply of 100M tokens).
Also, in this campaign, if a user outperforms other users massively, they will get a multiplier on their score meaning an even higher $KRIYA reward.
More details about the Chakra Scoring System can be found in the detailed blog by the KriyaDEX team here:
Participating is simple, just add liquidity as mentioned in the guide above, and generate trading volume by swapping on:
You can track your est. $KRIYA token rewards in the same rewards screen. Claim for these tokens will begin closer to IDO.
Why you should not miss these KriyaDEX campaigns?
- One of the early legit projects in Sui: KriyaDEX was one of the first few DEXs to be live on mainnet, they’ve been developing on Sui from as early as November 2022 and have partnered with many early protocols on Sui. They are audited by MoveBit as well.
- Opportunity for an airdrop: Since they’ve openly mentioned WL + Airdrop as a benefit of the Chakra Campaign, an airdrop is imminent.
- Lucrative rewards: As our calculations showed, the rewards distributed in both campaigns are very high. For users with capital, we recommend adding liquidity and earning from the Suinami Campaign while for users with less capital, we recommend swapping, generating volume, and via the Chakra Campaign.
- Opportunity to earn real-time $SUI rewards: $KRIYA rewards might take time to realize, but $SUI rewards are real and can be claimed in real-time, users can reinvest these rewards into LP pools to earn even more rewards.
- Benefits of being early: Given Sui DeFi is just getting started and KriyaDEX TVL is around ~50,000 USD, even with a small investment, a user can earn a high Return on Investment in the initial weeks. Kriya hasn’t involved a lot of market makers and is trying to grow TVL via retail participation, it is a good opportunity for early DeFi users to farm big rewards.
In conclusion, KriyaDEX offers exciting opportunities to maximize your earnings on the Sui DeFi platform. By participating in their Suinami Campaign, you can earn real-time $SUI rewards by providing liquidity. Additionally, the Chakra Campaign allows you to earn $KRIYA tokens based on your swap volume and liquidity contributions. These campaigns provide lucrative rewards, especially for early adopters in the growing Sui DeFi ecosystem. Don't miss out on the chance to be part of an early legit project and farm big rewards. Whether you have the capital to add liquidity or prefer generating volume through swaps, KriyaDEX has something for everyone. Start earning today and make the most of your Sui DeFi experience with KriyaDEX campaigns!
Important note: The information provided here is for informational purposes only and should not be construed as financial investment advice. You must conduct thorough research (DYOR - Do Your Own Research) and exercise caution before making any investment decisions.