Surge Event On Kava Lend For Cosmos Atom With High APY
The Surge event on Kava Lend in January 2022 to offer early Cosmos Atom suppliers the chance to earn up to 1700 percent APY.
Kava announced the Surge program as part of the launch of Kava 9 and integration with IBC. As part of the surge events, Kava Lend will boost IBC assets’ reward APYs for a period, allowing holders of $ATOM to take advantage of an enhanced yield opportunity.
How The Surge Event Works
All listing proposals for IBC assets on Kava Lend will also include a temporary adjustment of the rewards distribution to initiate the Surge event. First movers will be able to earn $KAVA and $HARD rewards with huge triple-digit APYs by supplying newly listed IBC assets to Kava Lend.
Surge rewards will mean that early suppliers can take advantage of the top of the APY curve to maximize their yield. As more of the new asset is supplied, APYs will begin to level out. However, APYs remain well above the market average as supply grows.
Cosmos Atom On Kava Lend
As the flagship asset of the Cosmos ecosystem, $ATOM will be the first to be listed on Kava Lend. The proposal to enable supplying and borrowing of $ATOM will go live on January 20th and it will be added on January 27th,
During the Surge period, early $ATOM suppliers can expect to receive reward APYs as high as 1700%. Even as the supplied $ATOM approaches $10M, suppliers will be earning >170% APY.
Future IBC Assets
Following the addition of $ATOM to Kava Lend, other IBC assets will be listed in sequence with a Surge event for each one. As of writing, the order will be:
- $UST
- $LUNA
- $OSMO
- $AKT
