DeFi Kyber Network: How to Join Fee Sharing Program and Receive Commission!
Kyber Network is a very popular on-chain defi protocol known for...
tomoyanSwap?π³
I mean KyberSwap!
You can exchange Ethreum tokens instantly.
What people don't know about is their "Fee Sharing Program". Every time token conversion occurs, you will receive commission from that transaction like this π
For(fee) example,
When someone trades 10 ETH, 0.25% of the value(fee) is paid by their reserves, and their fee share program will give you 30% of the fee (= 0.075%). Commission Fee: 0.075% of 10 ETH = 0.0075 ETH (in KNC token) which is about... Not too bad!
How to join the program?
You can use MyCrypto to join the program. Go to https://mycrypto.com/contracts/interact Copy and paste these into the form and "Access" "Contract Address": 0xECa04bB23612857650D727B8ed008f80952654ee "ABI / JSON Interface": [{"constant":false,"inputs":[{"name":"wallet","type":"address"}],"name":"registerWallet","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[],"name":"feeBurnerWrapperProxyContract","outputs":[{"name":"","type":"address"}],"payable":false,"stateMutability":"view","type":"function"},{"inputs":[{"name":"feeBurnerWrapperProxy","type":"address"}],"payable":false,"stateMutability":"nonpayable","type":"constructor"}]
"Read / Write Contract": registerWallet "wallet address": Your ETH address then connect your wallet.
Once it's connected, don't change the default values. Just click "WRITE".
And "Generate Transaction"
Finally, "Send Transaction"
Confirmation will pop up and "Send" and you will need to confirm on your wallet.
That is it!
You just joined the program. (Wait for a few minutes for the transaction to be processed. You can check the transaction status on Eth Explorers.)
They are little outdated but there are more ways to join the program. (more info MyEtherWallet, web3)
Joined the program what now?
Easiest way to receive commission is Kyber Widget. Just generate your own token swap, pay widget and paste it on your website. Make sure to use registered ETH address in here π
Every time I use it myself, I will get fees from Kyber Network.
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