AscendEX Launches KavaSwap Liquidity Mining

AscendEX is thrilled to announce the launch of liquidity mining for Kava Swap on AscendEX. Starting on Nov 1 at 1 p.m. and continuing until Nov 8 at 12:00 a.m UTC. Users will be able to lock up their KAVA tokens to earn high yield over time. During the event, users who deposit KAVA and USDX in the Liquidity Mining Program will get double rewards, including the basic rewards in SWP tokens and extra SWP tokens of the same value. Additionally, there will be a KAVA trading competition starting on Nov 8 and 12 a.m. UTC and ending on Nov 25 at 12 a.m. UTC. Verified users who trade KAVA or USDX and maintain total trading volume = 500 USDT during the event will be eligible to share 15,000 USDT worth of SWP rewards. Kava Swap liquidity mining provides an innovative way for AscendEX users to put their idle assets to work and earn passive income on their holdings.

Different protocols can use liquidity pools for various mechanisms in the DeFi ecosystem; lending & borrowing, swapping assets, yield vaults, and more. Although the precise intricacies of each liquidity pool use slightly different parameters, all liquidity pools aggregate deposited assets together and generate some form of yield for users.

AscendEX is thrilled to continue supporting the DeFi ecosystem’s growth and adoption by offering DeFi investment products like liquidity farming for tokens such as Kava Swap.

Liquidity mining is the process where users deposit assets into liquidity pools, a collection of capital that is automatically grouped and used to facilitate trading or lending & borrowing of assets between multiple parties.

In decentralized finance, users can participate in liquidity pools by depositing one or two assets into a given market or pool. Liquidity pools allow for digital assets to be traded without the need for a traditional order book or exchange. By extension, users then earn trading fees based proportionally on their share of the entire liquidity pool.

In some cases, liquidity providers will receive “LP tokens,” a synthetic representation of their stake in each pool. Users can then delegate these tokens across a variety of money markets and other DeFi products.

Until now, liquidity pools have been exclusively available to those who use decentralized finance protocols. However, the inherent complexities and mechanisms involved often prove too much for mainstream users trying to use DeFi protocols. Lack of complex DeFi knowledge and processes has left many crypto users out of the loop when it comes to participating in liquidity pool investment products.

Users can think about liquidity pools as high yield savings accounts where they lock up your tokens for a period of time and earn interest or yield, in this case from Kava, as a reward for providing liquidity.

Kava has developed a blueprint for scaling that goes beyond throughput to create a curated ecosystem of best-in-class services that can meet the needs of a genuinely global decentralized economy. Kava Lend allows Kava users to lock their crypto as collateral and borrow against it to earn rewards and access additional liquidity and market exposure. Users can supply and borrow various high-demand assets, earn a combination of interest in the asset they supplied, and rewards in the native HARD and KAVA tokens.

About AscendEX

AscendEX is a global cryptocurrency exchange with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.

To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About Kava Swap

Kava Labs is focused on democratizing financial services and making them openly accessible to anyone, anywhere in the world. Kava is the first cross-chain Decentralized Finance (DeFi) hub providing applications and services to the world’s largest cryptocurrencies. Kava’s platform operates as a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn more with their digital assets.

For more information and updates, please visit:

Website: https://www.kava.io/

Twitter: https://twitter.com/Kava_Swap

Telegram: https://t.me/KavaSwap

Medium: https://medium.com/kava-labs

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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

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