#Table of Contents

On April 18th, it was announced that the DEX aggregator Kyber Network will suspend mining and mining rewards from 00:00 on April 19th, while deploying upgraded KyberSwap Elastic smart contracts. All existing rewards received by CyberSwap users will not be affected. After deploying a new smart contract, mining will restart. Kyber Network reminds users to remove their working capital and collect mining rewards before 16:00 UTC (00:00 Beijing time on April 19). Any liquidity that has not been removed at that time will be processed under emergency withdrawal, and liquidity will be returned to the original wallet of LP, but unclaimed mining rewards will be confiscated.

Kyber Network will deploy the upgraded Elastic contract tomorrow at 00:00, reminding users to remove their working capital as soon as possible and receive mining rewards

1. Introduction
2. What are DEX Aggregators?
3. Kyber Network’s Mining Suspension and Contract Upgrade
4. What Does This Mean for KyberSwap Users?
5. How Can Users Collect Their Mining Rewards?
6. Emergency Liquidity Withdrawal
7. Conclusion
8. FAQs
# On April 18th, Kyber Network Announced Mining Suspension and Upgraded Smart Contracts
The world of decentralized finance (DeFi) is constantly evolving, with new projects and updates coming out all the time. One such project, Kyber Network, recently announced that it would suspend mining and mining rewards while upgrading its KyberSwap Elastic smart contracts.

What are DEX Aggregators?

Before we dive into what this announcement means, it’s important to understand what DEX aggregators are. DEX is short for decentralized exchange, which is a type of crypto exchange that operates on a blockchain network rather than a centralized server. DEX aggregators, like Kyber Network, use smart contracts to access liquidity from multiple DEXs and provide users with the best rates for their trades. By using a DEX aggregator, users can save time and money by not having to search for the best rates across multiple exchanges.

Kyber Network’s Mining Suspension and Contract Upgrade

On April 18th, Kyber Network announced that it would suspend mining and mining rewards from 00:00 on April 19th. This is due to the deployment of upgraded KyberSwap Elastic smart contracts. This upgrade will improve the overall stability and efficiency of the platform, providing a better user experience for those using Kyber Network.

What Does This Mean for KyberSwap Users?

For users of KyberSwap, the upgrade will not have any negative impact on existing rewards received. However, users are advised to remove their working capital and collect their mining rewards before 16:00 UTC (00:00 Beijing time on April 19). Any liquidity that has not been removed at that time will be processed under emergency withdrawal.

How Can Users Collect Their Mining Rewards?

Users can collect their mining rewards by navigating to the “Reward” tab on their KyberSwap account. From there, users can redeem their rewards and transfer them to their wallet of choice.

Emergency Liquidity Withdrawal

In the event that a user does not remove their liquidity before the deadline, emergency liquidity withdrawal will be initiated. Any liquidity left on the platform will be returned to the original wallet of the LP, but any unclaimed mining rewards will be confiscated. This is why it’s important for users to act quickly and remove their liquidity before the deadline.

Conclusion

Kyber Network’s announcement regarding the suspension of mining and contract upgrades is a positive step towards improving the platform for its users. By upgrading its smart contracts, Kyber Network will be able to offer a better experience for those using KyberSwap. Users are advised to remove their working capital and collect their mining rewards before the deadline to avoid any issues with emergency withdrawal.

FAQs

1. Why is Kyber Network upgrading its smart contracts?
Kyber Network is upgrading its smart contracts to improve the stability and efficiency of the platform.
2. How can users collect their mining rewards?
Users can collect their mining rewards by navigating to the “Reward” tab on their KyberSwap account and transferring them to their wallet of choice.
3. What happens if a user does not remove their liquidity before the deadline?
Any liquidity left on the platform will be returned to the original wallet of the LP, but any unclaimed mining rewards will be confiscated.