What is The Loan Wars Competition on DeFi Kava Platform? | $150K Prizes & How It Works

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The Loan Wars On Kava

Find out what The Loan Wars is on Kava and what the rules of engagement are. There is $150k in prizes to be won this December 2021. 

It’s almost time for the Loan Wars! The Loan Wars are preparing to begin as intrepid explorers prepare their ships to travel to the Kava system and compete for the title of Loan Wars Champion. The Rules of Engagement, however, must be understood by all combatants before the contest begins.

What is The Loan Wars?

The Loan Wars is a competition happening on the Kava testnet to prepare for the upcoming IBC integration in the Kava 9 mainnet upgrade. The event will run for two weeks from December 15th to December 29th with $150K in prizes up for grabs.

During the event, competitors will need to use a mixture of testnet assets to earn and claim rewards on the Kava Platform. Whoever claims the most rewards with their testnet account by the end of the event will be crowned Loan Wars Champion!

How It Works

At the start of the event, all registrants will receive an equal amount of testnet assets deposited into their provided wallet address, split between two zones.

In Zone 1, they will receive a mixture of native Kava assets. In Zone 2, they will receive a mixture of IBC assets ($ATOM, $OSMO, $LUNA, $AKT). The goal for the competition is to transfer the assets using IBC and put them to work on Kava Mint, Lend, and Swap to earn and claim the most rewards.

Winners will be determined by the final balance of claimed rewards at 17:00 PST, December 29th. Final reward balances will be calculated using the dollar value of total claimed reward tokens ($KAVA, $HARD, $SWP) at the end of the event based on a fixed price feed.

How to Register

To be eligible to win, you must:

Prize Levels

Final reward balances at the end of the event will be used to determine the top 211 competitors. The $150K prize pool will be distributed to winners in the following structure:

Loan Wars Champion

Fleet Command

Alpha Squadron

Bravo Squadron

Rules

 

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