Trava Finance Alpha Lending Pool and The Early Experience Version
Trava Finance will bring out the best experience to users, Trava will allow the Community to experience lending and borrowing in the Alpha version of Trava Lending Pool. Moreover, we will offer two reward programs for users in the Alpha Lending Pool version: The Program of Early Experiences (2E) and the Program of Bug Bounty (2B). The Alpha Lending Pool is running on BSC Testnet, a marvelous preparation for users to get acquainted with the Mainnet version of our lending pool ecosystem in the future.
The Alpha Lending Pool and 02 Reward Programs will be started at the same time from 3:00 PM UTC Aug 13th to 3:00 PM UTC Aug 18th.
The Program of Early Experiences (2E)
How to get rewards?
As mentioned above, as we run the Alpha Lending Pool on BSC Testnet, you would make sure your Metamask or Trust Wallet is connected to the BSC Testnet.
Step 1:
- Go to the link: https://app.trava.finance/faucet to get the budget of $1000 for the game. You can use all of this budget to buy the arbitrary number of our supported tokens and join the lending game.
- For BNB, go to the link: https://testnet.binance.org/faucet-smart to faucet BNB on BSC Testnet
- Connect MetaMask to BSC Testnet:
Open your Metamask and click on the button near the top of the app.
Click on “Custom RPC” if you have not previously added the BSC testnet information.
Enter in the BSC testnet details as follows:
Network Name: BSC Testnet
New RPC URL: https://data-seed-prebsc-2-s1.binance.org:8545/
ChainID: 97
Symbol: BNB
Block Explorer URL: https://explorer.binance.org/smart-testnet
Then press “Save”
Step 2:
After getting tokens, you can start executing lending and borrowing business processes, including 4 functions: deposit, borrow, withdraw, and repay. A detailed guide for 4 functions could be found here.
Rewards Formula
The Prize will be assessed based on your points gained during the 2E program. As calculating your points, we take into account 2 main factors: your Credit Score Rank and your Gained Reward (in $TRAVA-test token, which is a version of $TRAVA on our BSC testnet)
Trava Team applies a different reward coefficient for each rank, at 1.00; 1.05; 1.10; and 1.15, corresponding to Conqueror, Hero, Master, and Legendary, respectively.
Note that the Credit Score is calculated based on data from BSC Mainnet only. We do not take into account the data from actions executed on MVP version on BSC testnet to evaluate Credit Score of players. To learn more about Credit Score and have a glimpse at how to improve your Credit Score on BSC mainnet, read this Credit Score introduction article.
Gained Reward for one participant (in $TRAVA-test) is the sum of rewards he/she earns when performing Depositing and Borrowing actions. For each token:
- The total Deposit Reward is 30M TRAVA-test for all players.
- The total Borrow Reward is 30M TRAVA-test for all players.
- A specific Deposit Reward and Borrow Reward will be released for each block.
- For each block, the Deposit Reward will be distributed to all lenders based on the number of tokens they have deposited in the pool. Similarly, the Borrow Reward will be allocated to all borrowers based on the amount of token they have borrowed from the pool.
The ranking point of each player will be calculated as follows:
Based on all players’ ranking points, we will select the top 3 best players to get Prize in real $TRAVA.
The Winner: $1000 in $TRAVA
The Runner-up: $500 in $TRAVA
The Third place: $250 in $TRAVA
$250 in $TRAVA will be divided equally to the top 50 players.
NOTES: Each player is allowed to use only one wallet address. If we detect any act of cheating, the violator’s result shall be deemed invalid.
About Trava Finance
Trava Finance is the world’s first decentralized marketplace for cross-chain lending. While existing approaches provide only one or a few lending pools with their own parameters such as borrow/supply interest rate, liquidation threshold, Loan-to-Value ratio, or a limited list of exchangeable cryptocurrencies, TRAVA offers a flexible mechanism in which users can create and manage their own lending pools to start a lending business. Trava is deployed on the Binance Smart Chain and allows for lending with BSC tokens first; we then enable cross-chain lending with various tokens on Ethereum and other blockchain networks.
