Kava Swap Testnet Award Details

Published on: 04.08.2021

Kava Swap Testnet closes on August 5 @ 00:00 UTC, so they introduced article about the score calculation for those who participated in the competition.

When Kava Swap testnet closes on August 5th @ 00:00 UTC, each participant will receive scores for the following:

1️⃣ Testnet assets = (assets supplied in Hard) + (collateral locked in Kava CDPs) + (assets supplied to Swap pools) + (assets in available balance)

2️⃣ Claimed SWP Rewards

Users will receive a ranking for each score. Final rankings are determined by averaging those two rankings. The value of assets supplied to Swap pools will be based on the pool price at the final block height of testnet. Note that KAVA/HARD rewards are not counted toward either score.

Remember to claim any earned SWP rewards before the end of the contest. A snapshot of claimed rewards will be taken at the end of the contest and unclaimed rewards can not be applied after that time. Users will be cross-checked against registration criteria before receiving competition rewards.

🔸Payouts

Users can only win one prize.
Tier 1 — top 1% of participants are entered in random drawing for one of five 10,000 USD prizes
Tier 2 — top 5% of participants get entered in random drawing for one of twenty 2,500 USD prizes
Bonus — 2 additional $10,000 prize pools will be awarded to the next 200 top-performing users
This $20,000 bonus we be drawn from 2 rounds of 100 contestants
Payouts will be priced 14 days (12:00 UTC) after successful Kava Swap mainnet launch and distributed the following business day via Discord.

🔸Random Selection of Winners

Users whose scores qualify for entry in a drawing will be given a number for the award raffle. This list of numbers will be published in an addendum to this article after the end of the contest and before the raffle takes place. The raffle will use the last 2-digits of the Kava Chain Block Hash after block height 100000 to determine the winning tickets.