Surge: Round 3 inbound! $ATOM, $OSMO, $LUNA, $UST, and $AKT fans get ready for boosted Reward APYs 🚀
To celebrate the successful launch of Kava 9 and the network’s IBC integration, Kava announced the Surge program on January 7, 2022.
Surge events boost APYs for newly added IBC assets in Kava Lend, and now will also be applied to new liquidity pools in Kava Swap. That means liquidity providers in Kava Swap will also have enhanced yield opportunities with the addition of new IBC asset pairs: $ATOM, $OSMO, $LUNA, $UST, and $AKT.
How It Works
The community will submit the proposal to add $ATOM, $OSMO, $LUNA, $UST, and $AKT pairs with $USDX into Kava Swap and activate Surge rewards on March 23.
Unlike previous Surge events, this proposal will be voted on by $SWP holders. Summarized below are important considerations when voting:
- Where will the APY rewards come from? If the proposal passes, $SWP rewards for this Surge event will be reallocated relatively evenly from the existing pools so that their reward APYs are still competitive. This change in incentives will attract significant fresh liquidity into the Kava ecosystem and offer a better onboarding experience for users looking to acquire new IBC assets. All rewards earned during the Surge program will be locked on the same 1 or 12-month vesting schedules as other rewards.
- How long does each surge last? There is no fixed timeline for each Surge event. However, each Surge event will last at least until the next IBC asset listing and its Surge event. That means each Surge lasts for one month at a minimum, at which point $SWP holders will have the ability to vote again on the next proposal for adding new pairs.
The Surge event will kick off on March 30 if the proposal passes. Liquidity providers will be able to immediately supply their assets to start earning rewards. The Surge Reward APYs will follow the supply (TVL) curve shown below:
Note: APYs above are estimated based on the spot price of related assets and annualized vesting schedule.
How to Participate
The Kava Swap Surge is coming soon. Here’s how you can get ready:
- Follow the Kava Swap Twitter account to keep track of the Surge program.
- Vote for the proposal to list and incentivize new IBC asset pairs.
- Get ready to supply your assets! Deposits are live on the Kava app.
- Review tutorials on setting up your Keplr Wallet and using Kava Swap.
- Add liquidity to your favorite Kava Swap pools and claim your rewards anytime.
- Is your team or project interested in listing a token on Kava Swap? Hop into the developer channel of Kava’s Discord server to get connected: discord.com/channels/704389840614981673/710227152192405569
About Kava Swap
Kava Swap is a decentralized cross-chain Automated Market Making (AMM) protocol designed to provide an efficient and secure way to swap natively between the world’s largest assets. Kava Swap supports low fees, high efficiency, and the ability to generate strong returns for liquidity providers.
Start Earning: https://app.kava.io/swap/pools
Read More: https://kavawire.com/participate-in-kava-surge-earn-triple-digit-interest-on-your-atom-by-lending-to-kava-lend/
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