DeFi Project Kyber Network to Farm in Elastic Pools

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Kyber Network plans to resume the ability to earn income through farming using their Elastic product, which utilizes concentrated liquidity and auto-compounding.

Developers say the first pools to launch will be on the Arbitrum platform, where rewards will be multiplied by one hundred.

Kyber Network also states that early liquidity providers will see the most benefit and that new smart contracts have been updated and confirmed to include enhanced security.

For the current farming stage, a combined amount of 274,000 KNC and 152,000 ARB has been set aside to reward users.

This comes after the Kyber Network team advised liquidity providers to withdraw funds from Elastic in April due to possible security concerns.

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