Reserve Rebates

You are referring to the Legacy version of KyberSwap docs.

For the most updated information, please refer to:

A network fee may be charged for a Kyber trade (dependent on reserve type). The network fee percentage is determined on the KyberDAO, and may change over time.

The KyberDAO also gets to determine what happens to the network fee. It is split 3 ways:

  1. Burning of KNC

  2. Staker rewards

  3. Reserve Rebates

The motivation for reserve rebates is to reward selected reserves based on their performance (i.e. amount of trade volume they facilitate). This incentivizes reserves to provide better liquidity and tighter spreads, thereby driving greater volume, value, and network fees.

How do I specify the reserve rebate wallet for these rebates?​

Whenever a reserve is added to the network, the rebate wallet must also be specified as well.

What if I need to change the rebate wallet address?​

Notify the Kyber team / network maintainers!

Do the rebates go automatically to the rebate wallet I specified?​

No. You will have to claim them manually through the KyberFeeHandler contract(s).

How do I view the rebate amount claimable?​

Call the rebatePerWallet method of the KyberFeeHandler contract(s). Note that for gas optimizations, 1 ether wei is kept inside the contract, so the claimable amount has to be subtract by 1.

Kindly refer to the example below.

How do I claim reserve rebates?​

Call the claimReserveRebate method of the KyberFeeHandler contract(s).

Kindly refer to the example below.

Example​

Checking Rebates Claimable​

Etherscan​

  1. Navigate to the "Read Contract" tab of the Kyber Fee Handler contract in Etherscan. Example: https://ropsten.etherscan.io/address/0xe57B2c3b4E44730805358131a6Fc244C57178Da7#readContract

Get Rebates Step 1

  1. Go to the rebatePerWallet function, input your rebate wallet address, then click on the "Query" button.

Get Rebates Step 2

  1. You should be able to see the amount claimable. This is in ETH wei. Note that you have to subtract this amount by 1 wei. Example: In the image below, the amount claimable is 9288172147833692 - 1 ~= 0.00928 ETH - 1 ether wei.

Get Rebates Step 3

ethers.js​

  1. Change the REBATE_WALLET_ADDRESS to be the desired wallet address for which you would like to check the rebates claimable.

  2. Change the FEE_HANDLER_ADDRESS to the KyberFeeHandler contract address.

Claiming Rebates​

Etherscan​

Note: This method requires your wallet address to be imported into Metamask. You will have to use other methods (Eg. MyCrypto / MyEtherWallet) otherwise.

  1. Navigate to the "Write Contract" tab of the Kyber Fee Handler contract in Etherscan. Example: https://ropsten.etherscan.io/address/0xe57B2c3b4E44730805358131a6Fc244C57178Da7#writeContract

Claim Rebates Step 1

  1. Click on the "Connect to Web3" button.

Claim Rebates Step 2

  1. Go to the claimReserveRebate function, input your rebate wallet address, then click on the "Write" button. Confirm the transaction details in Metamask.

Claim Rebates Step 3

ethers.js​

  1. Change the REBATE_WALLET_ADDRESS to be the desired wallet address for which rebates can be claimed from.

  2. Change the FEE_HANDLER_ADDRESS to the KyberFeeHandler contract address.

  3. Change SENDER_ADDRESS_PRIVATE_KEY to the private key of an ETH address to send the transaction. This can be any wallet address (ie. does not necessarily have to be REBATE_WALLET_ADDRESS). Kindly ensure that this address has sufficient funds to send the transaction.

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