Friday, June 21, 2024

KavaSwap liquidity mining is now available on AscendEX

KavaSwap liquidity mining is now available on AscendEX

AscendEX recently announced the commencement of liquidity mining for Kava Swap. During the period from Nov 1 to Nov 8, users could earn a high yield by locking up their KAVA tokens.

Deposit of KAVA and USDX in the liquidity mining program will enable users to earn double rewards. This includes the SWP tokens basic rewards and additional SWP tokens of similar value.

The period from Nov 1 to Nov 8 will also be used to run a KAVA trading competition. Bonafide users with trades in KAVA or USDX with trading volume greater than 500 Tether(USDT) will be able to share SWP rewards worth 15000 USDT. AscendEX users through the Kava Swap liquidity mining now have a means of earning passive income from their idle asset holdings.

The different liquidity pools use different parameters. However, finally every liquidity pool aggregates deposited assets to generate yields for users.

AscendEX will continue to support the growth and adoption of DeFi. Liquidity farming such as Kava Swap is a step in that direction. In DeFi, liquidity pools are formed by users depositing assets into the pool. The pools permit the trading of digital assets without having to go through an order book or an exchange. Users earn trading fees in proportion to their holding in the liquidity pool.

Sometimes, liquidity providers are given LP tokens. These are representative of the users stake in the pool. These tokens can be used across money markets, and DeFi. Liquidity pools were thus far available only to users of DeFi protocols. However, the complexity of the protocols made it difficult to use.

Kava now provides a blueprint for a more accessible and global DeFi economy.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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