Kava Swap Testnet
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 on August 30th, the Kava community needs to test Kava Swap and earn up to $130,000 in the incentivized Kava Swap Testnet competition!
Table of Contents
Kava Swap Testnet Details
How to Participate
- 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.
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
July 28th @ 17:00PST (July 29th @ 00:00 UTC) — August 4th @ 17:00PST (August 5th @ 00:00 UTC)
Testnet Webapp: http://app.swap-testnet.kava.io/ (coming soon)
Users will need to provide a unique email address and Twitter username.
Winners will be based on a combination of tradings profits and liquidity provider (LP) rewards. Kava Labs will randomly update Reward APYs for liquidity pools and move internal pool prices by placing significant swap orders throughout competition to mimic a variety of market conditions.
- Users will receive a score for trading profits, the final market USD price of their asset balance (not including $SWP rewards).
- Users will receive a score for LP rewards, their final claimed $SWP token balance.
- These two scores will be added to create final scores and rankings.
- Faucet will supply one-time initial amount of assets for users to obtain and use in the Kava Swap exchange and liquidity pool competition. All users will start with equal amount (exact amounts TBD).
- $SWP token claims will be distributed to users who provide liquidity to different markets.
- Any wallet that is supported on mainnet can be used for testnet.
- Any protocol modules are permitted for use during the competition.
- Remember to claim any earned $SWP rewards before the end of the contest. A snapshot of claimed rewards will be taken at the end of the contest and unclaimed rewards can not be applied after that time.
Tips to WIN:
1️⃣ Adjust your asset allocation to markets to maximize $SWP claim based on adjusted $SWP rewards (from governance).
2️⃣ Monitor market prices and Kava Swap pool prices. Act fast to take advantage of arbitrage opportunities and exchange tokens at a discount.
3️⃣ Manage your positions carefully, choosing between providing liquidity, swapping tokens, or borrowing tokens using Kava & Hard protocols.
Any questions? Hop into Kava SWAP Telegram group and get them answered! https://t.me/KavaSwap
Stay in touch!
- Follow us on Twitter: https://twitter.com/kava_labs
- Join the conversation on Telegram: https://t.me/kavalabs
- Checkout our code: https://github.com/kava-labs
- Subscribe to our YouTube: https://www.youtube.com/c/Kavalabs/videos
Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making investment decisions.