OpenLeverage Trading And Lending Campaign With MojitoSwap
MojitoSwap is a decentralized exchange running on the KuCoin Community Chain, with many features that enable members to earn and win tokens. It is fast, cheap, and easily accessible to everyone.
To kick off the partnership, OpenLeverage is offering rewards for lending and margin trading pairs on MojitoSwap.
Trading and Lending Campaign
MojitoSwap created two trading pairs on OpenLeverage for the Mojito Trading and Lending Campaign:
- MJT — KCS
- MJT— USDT
OpenLeverage will offer 500,000 OLE rewards for MJT traders, which will be distributed as 350,000 OLE for the Trading Campaign and 150,000 OLE for the Lending Campaign. The MojitoSwap Trading and Lending Campaign will last from April 18, 2022, at 1 PM UTC to April 25, 2022, at 1 PM UTC.
Trade Early for More On MojitoSwap
Members who open positions with trading volume levels during the campaign will be awarded the corresponding $OLE rewards.
We will calculate the trading volume of a single transaction, not the cumulative volume. If your transaction does not meet the minimum requirement, then you will not be rewarded.
Each address can receive a maximum of 3,000 OLE rewards before dilution through the activity. When users receive 3,000 OLE rewards, the address can still trade but will not earn extra rewards.
The Trade Early for More Campaign will last for 7 days. With each new day, the rewards will be reduced by 5%, meaning the earlier you trade, the more rewards you can earn.
The Trade Early for More Campaign will have a maximum of 350,000 OLE rewards. When the number of rewards earned exceeds 350,000 OLE rewards, all rewards will be diluted according to the formula below:
diluted rewards = undiluted reward * (350,000 / earned total reward)
For example: On Day 1, Alice makes a $1,000 trade and earns 120 OLE. On Day 2, she makes another $1,000 trade and earns 114 OLE. At the end of the Trade Early for More Campaign, the total prize pool generated 700,000 OLE. Using the formula above, Alice earned 128 OLE after dilution:
128 = (120 + 114) * (350,000/700,000)
Please note that volume count only includes opening positions, but not closing positions. Each address can receive a maximum of 3,000 OLE rewards from this campaign.
Lend to Get Rewards
During the campaign period, you can lend assets to MJT — KCS and MJT — USDT pairs and receive lending rewards based on the amount and length of lending.
The total reward for the lending campaign is 150,000 $OLE. The following formula will be used to calculate the reward for each user:
How To Trade or Lend MJT On OpenLeverage
1. Open the OpenLeverage website and click on “Go to App.”
2. Connect your MetaMask wallet by clicking on the “Connect Wallet” button at the top right corner. Select Network “KuCoin Community Chain”.
3. On the left menu, click on “Margin Trade” and select MJT/KCS or MJT/USDT to trade.
The middle of the dApp is the chart of the trading pair, and the right side is the margin trading operation panel. You can adjust the conditions of the trade, such as long/short, leverage level, and deposit margin funds according to your risk appetite.
You can create a watchlist by clicking on the star icon next to the pair.
Select “Long MJT” or “Short MJT.”
For first-time USDT users, click “Approve USDT.” A MetaMask confirmation page will pop up. Review the information and click “Confirm” once you are comfortable giving the protocol permission to access your USDT.
4. View your trade by clicking “My Positions” in the menu bar.
To close your position, you may click “Close.” You can choose to partially close your position by entering a number in “Input Amount” or selecting a percentage.
To avoid having your position liquidated, an additional margin may be added by clicking “Add Margin” and specifying a number or percentage of your available wallet collateral.
Click “History” on the top right corner to view historical margin trades and liquidation status.
5. Click on the left menu button “Lend To Earn,” select MJT Pools, select MJT — USDT to lend your MJT/USDT
Click “Deposit,” enter the amount you want to lend, and then click “Deposit” to authorize the transaction. MetaMask transaction confirmation will pop up automatically. Click the “Confirm” button, and wait until the transaction completes successfully.
About MojitoSwap
MojitoSwap adopts AMM mechanisms to provide users with a KRC20 token exchange service. You can swap mainstream assets such as ETH, KCS, MJT, USDC, and USDT.
The service provided by MojitoSwap is decentralized. The difference between DEX and centralized exchanges is that users can complete the exchange of crypto assets without registering or logging in. Compared with Ethereum and Bitcoin networks, MojitoSwap has lower gas fees and faster transaction speed.
About OpenLeverage
OpenLeverage, a permissionless lending and margin trading protocol, is deployed on Ethereum and the BNB Chain, with future multi-chain deployments planned. The permissionless design of the protocol allows users to launch a leverage trading market for arbitrary trading pairs, integrating with the liquidity provided on decentralized exchanges. OpenLeverage provides a permissionless, decentralized, scalable, and secure leveraged trading facility that serves the long tail and fast-growing DeFi market.
