Kava Labs Swap Testnet Competition - DropsEarn
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Kava Labs Swap Testnet Competition

Kava Labs Swap Testnet Competition

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Reward pool

up to $130,000

equal in KAVA

Expected profit

$100 - 10,000

equal in KAVA

Max participants

No limit

DropsEarn score

Neutral

Normal, Low Risks

Detailed information 

Before the testnet starts:

  • Users can check this list to confirm their address is registered.
  • Make sure your TrustWallet or Ledger is ready for connecting to the testnet.
  • If you are using a ledger for the first time, please complete this configuration.

How to access the testnet:

  • Visit app.swap-testnet.kava.io (coming soon) and connect your TrustWallet or ledger.
  • When the testnet launches on July 28th @ 17:00PST, all users will already have the same starting balance. Unlike past testnets, there is no need to get coins from a faucet
  • All users will start with an equal amount of coins, totaling ~10k USD. Users will receive a combination of all available coins on Kava platform ( KAVA, HARD, USDX, BUSD, BTCB, BNB, and XRPB)

 


Swap Between Different Coins

 


Add Liqudity to an Existing Pool

 


Create a New Pool and Set the Initial Prices

What to watch for when the testnet starts:

  • Initially, there will be no pools, so pools will be created by contestants after the launch. Any user can create a pool (must be quick to act), or wait for them to appear in the web app.
  • Users will be able to swap between coins, add/remove liquidity from an existing pool, or create a new pool.
  • Be vigilant for arbitrage opportunities when pools are created — these could be a great opportunity to increase the USD value of testnet funds. Frequently check asset prices on testnet to take advantage of arbitrage opportunities.
  • At launch, all pools will have the same SWP rewards. After launch, Kava Labs alter the APYs at random intervals, so check the web app to maximize your SWP reward earnings.
  • Post launch, Kava Labs will also cause price dislocations in the pools. This will lead to profitable arbitrage opportunities for those who are watching closely.
  • USDX minting will be included in the testnet — that is another option to consider in attempt to maximize SWP rewards.

Payouts 

  • Users can only win one prize:
  • Tier 1 — top 1% of participants are entered in random drawing for one of five 10,000 USD prizes
  • Tier 2 — top 5% of participants get entered in random drawing for one of twenty 2,500 USD prizes
  • Payouts will be priced 14 days (12:00 UTC) after successful Kava Swap mainnet launch and distributed the following business day.

Bonus

Up to 3 additional $10,000 prize pools will be awarded to the next 100 top-performing users for each additional 5,000 participants beyond 30,000.

  • 30,000 Registrants: $110,000 total, 125 winners
  • 35,000 Registrants: $120,000 total, 225 winners
  • 40,000 Registrants: $130,000 total, 325 winners

More

About

The finishing touches are being put on Kava Swap — a cross-chain Autonomous Market Making (AMM) Protocol that leverages Kava’s DeFi infrastructure, cross-chain bridges, and security, allowing users to safely access crypto’s largest products and services in one safe and seamless integration. Before Kava Swap launches on mainnet, the Kava community needs to test Kava Swap and earn up to $130,000 in the incentivized Kava Swap Testnet competition.

Activity Type

All Activity

Date

29 Jul 2021 03:00(UTC+3) - 5 Aug 2021 03:00(UTC+3)

Registrition

Closed

Event Status

You can't participate (Event ended)