Cryptocurrency exchange AscendEX has announced the launch of the KavaSwap liquidity mining program that will start today (Nov. 1) at 1 pm UTC and run until Nov 8. 12 am.
During that duration, AscendEX with KAVA tokens will be able to lock up their KAVA tokens to earn high yields. Users will be allowed to make deposits for the liquidity mining program either using the KAVA or USDX tokens.
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The rewards will include the basic SWP token rewards plus extra SWP tokens of the same value.
The KavaSwap Liquidity Mining program provides an inventive way for AscendEX users to enterprise their idle KAVA and USDX tokens to earn a passive income.
KAVA token trading competition starting
After the liquidity mining program ends on Nov 8, AscendEX intends to hold a KAVA trading completion starting on November 8 from 12 am UTC until November 25, 12 am.
Verified AscendEX users willing to participate in the trading completion will be competing to share an SWP tokens reward worth 15,000 USDT.
To be eligible to share the reward, participants will have to maintain a total trading volume equal to or greater than 500 USDT.
AscendEX’s support for DeFi
By launching the Kava Liquidity Mining program, AscendEX is on course as it continues to support the DeFi ecosystem’s growth.
KavaSwap is the first cross-chain DeFi hub. Through its Kava Lend product, it allows users to lock their crypto as collateral and borrow against it to earn rewards and also access more market and liquidity exposure.
In so doing, KavaSwap allows users to earn interest for supplying liquidity to the mining pools and also earn rewards for borrowing.
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