KAVA Token Sale Details On Binance Launchpad – How To Join And Buy KAVA Token?
What Is KAVA?
KAVA is a cross-chain DeFi platform offering collateralized loans and stablecoins to users of major crypto assets, including BTC, XRP, BNB, ATOM, etc. Users can collateralize their crypto assets in exchange of USDX, Kava’s stablecoin. KAVA is the governance and staking token responsible for securing the network and voting on key parameters.
The Kava platform has two types of tokens, the KAVA token and the USDX stablecoin. The KAVA token is the native token of the KAVA blockchain integral in the security, governance and the mechanical functions of the platform.
The Kava blockchain is secured by a Proof-of-Stake consensus with a native staking token (known as “KAVA”) which gives token holders the ability stake and earn block rewards as well as participate in the governance of the platform
There are three main use cases for the KAVA token:
- Security – Blocks are validated by the top 100 nodes by weighted bonded stake in KAVA tokens. Economic incentives for validators come in the form of earning KAVA as block rewards, in transaction fees, and face losing KAVA based on strict slashing conditions such as failing to ensure high up time and double signing transactions.
- Governance – KAVA is used for proposals and voting on key parameters of the collateralized debt position (“CDP”) system.This includes but is not limited to the global debt limit of the system, types of supported collateral, their debt limits, collateral ratio, fees, and the savings rate for USDX.
- Lender of Last Resort – KAVA functions as a reserve currency in situations where the system is undercollateralized. In such cases new KAVA is minted and used to buy USDX off the market until USDX becomes safely overcollateralized.
There are three main use cases for the USDX token :
- Margin Trading / Leverage – Users that receive USDX from the platform primarily use it to purchase additional crypto effectively leveraging their exposure to crypto assets.
- Hedging with Interest – Traders can hold USDX as a stable asset when seeking to limit exposure to volatile crypto assets. Holders can bond their tokens and receive accumulate interest equal to the current USDX savings rate.
- Stablecoin Payments – The quick blocktimes and fast finality of the Kava blockchain enables USDX to be used for general payment use cases.
Kava aims to be the de facto DeFi platform by providing a decentralized lending platform and stablecoins compatible with major crypto assets.
Key Features And Highlights
Multi-collateral Debt Positions: The Kava platform supports lending against crypto assets from other networks such as BTC, XRP, BNB, and ATOM.
“No Counterparty” Lending: The Kava platform enables users to ‘self-issue’ loans, minting new USDX based on their deposited collateral and destroying USDX when users close out their debt positions.
Decentralized Loans & Leverage: Kava provides the users of major cryptocurrencies with open access to loans, leverage, and stablecoins for hedging.
Algorithmically Maintained Stablecoin: Using price oracles, Kava automatically auctions ‘at-risk’ collateralized debt positions that fall below the required debt-to-collateral ratio in order to maintain the price peg of USDX to USD.
Stablecoin Hedging with Interest: Kava’s USDX stablecoin can be bonded, providing holders of USDX with a yield.
Economically Incentivized Governance: Stakers of the KAVA token earn block rewards and fees paid by users but risk slashing and act as the lender of last resort if the system is not maintained properly.
Extensible Synthetics & Derivatives: Kava is capable of growing to support a wide range of new crypto assets and offering new synthetics and derivative products.
|Roadmap & Achievements|
|2019:Q2||Release of working MVP of Kava CDP system||Medium|
|2019: Q2||Release of public testnet 1.1||Medium|
|2019: Q2||Kava Founder Rewards Program to incentivize users to run validator nodes||Github|
|2019: Q2||Release of public testnet 2000||Github|
|2019: Q4||Release of public testnet 3000||The final public testnet before mainnet|
|2019: Q4||Mainnet launch||N/A|
|2019: Q4||Release of Beta CDP System||Available for developers to use at HackAtom DeFi in San Francisco|
|2019: Q4||Implement on-chain vesting for validators||Github Pull Request|
|2020: Q1||Public testnet 4000 with Beta CDP system and Bug Bounty Program||First cross-chain assets integrated into CDP system on testnet|
|2020: Q2||Cross-chain assets in CDP system on mainnet||N/A|
|2020: Q2||Integrate custodial BTC Peg into CDP system testnet||N/A|
|2020: Q3||Integrate both custodial and non-custodial BTC Peg into CDP system mainnet||N/A|
Since 2017, the Kava Labs team has used its blockchain expertise to provide solutions to Ripple, Tendermint/Cosmos, Tezos, MakerDao, and many other leading blockchain projects.
Brian Kerr – Co-founder, CEO: Former CEO of Fnatic Gear and Func, Advisor to Snowball and DMarket.io
Ruaridh O’Donnell – Co-founder, Lead Blockchain Developer: Former Engineer & Data Analyst at Levelworks, Deep Learning Specialist
Scott Stuart – Co-founder, Head of Product: Former CEO of Levelworks, Professional Poker Player.
Kevin Davis – Lead Engineer: Former Software Developer & Data Analyst at the USDA
Stan Press – Head of Marketing: Former Head of Partnerships at VY Esports, Managing Director of Gaming & Digital Strategy at Magid
Aaron Choi – Head of Business Development, Asia: Former CEO of GJ Exchange, VP of Global Partnerships at Chinapex, VP International Exchange BTCC
Sunny Aggarwal: Tendermint / Cosmos, Researcher Scientist
Terry Chen: Twine, VP of Engineering
Roderik van der Graaf: Lemniscap, Managing Partner
Rob Leshner: Compound.finance, Founder & CEO
Brian Fabian Crain: Chorus One, Co-founder & CEO
Jack Zampoline: Tendermint, Director of Product
KAVA Token Informations
– Token Name: Kava (KAVA)
– Ticker: KAVA
– Token type: KAVA will initially be issued as a BEP2 asset on Binance Chain.
– Total Token Supply: 100,000,000 KAVA
– KAVA Token Distribution:
+ Private Sale 1 tokens comprise 30.05% of total token supply.
+ Private Sale 2 tokens comprise 5.02% of total token supply.
+ Private Sale 3 tokens comprise 4.93% of total token supply.
+ Binance Launchpad Sale tokens comprise 6.52% of total token supply.
+ Kava Labs shareholders tokens comprise 25.00% of total token supply.
+ Token Treasury tokens comprise 28.48% of total token supply.
Learn More Informations At:
Whitepaper: Whitepaper Kava
– Telegram group: https://t.me/kavalabs
– Twitter channel: https://twitter.com/kava_labs
– Medium: https://medium.com/kava-labs
KAVA Token Sale Details
Private Sale 1: The Private Sale 1 was conducted from June 15th to June 30th 2019, and rased a total of $2.25 MM.
Private Sale 2: The Private Sale 2 was conducted from July 15th to July 31st 2019, and rased a total of $1.26 MM.
Private Sale 3: The Private Sale 3 was conducted from August 15th to August 31st 2019, and rased a total of $1.97 MM.
Binance Launchpad Sale:
– Launchpad Ticket Claim Time: 2019/10/23 06:00 AM (UTC) – 2019/10/24 06:00 AM (UTC)
– Hard Cap: $3,000,000
– Total Tokens Allocated to Binance Launchpad: 6,521,739 KAVA (6.52% of Total Token Supply)
– Public Sale Token Price: 1 KAVA = $0.46 (price in BNB will be determined prior to the lottery draw date)
– Token Sale Format: Lottery & Airdrop
– Max Number of Winning Lottery Tickets: 15,000
– Allocation Per Winning Ticket: $200 (434.78 KAVA)
– Maximum of Ticket for each user: 10 Ticket ($2,000)
– Total Airdrop Pool: 326,087 KAVA (approx $150,000)
– Supported Sessions: BNB only
KAVA Airdrop Details
For this Launchpad session, a pool of 326,087 KAVA tokens (approx 150,000 USD) will be split and airdropped to all launchpad participants that do not have a winning ticket.
The amount airdropped to each participant that does not have a winning ticket will be calculated as = (Number of non-winning tickets held by each non-winning participant / Total number of non-winning tickets across all non-winning participants) x Total Airdrop Pool. Please note that if you do have a winning ticket, you will not be eligible for the airdrop.
Example: User A claimed 3 tickets but did not have a winning ticket. The total amount of tickets across all users that did not have a winning ticket is 400,000 tickets. In this scenario, User A will receive an airdrop of 2.4457 KAVA (326,087 KAVA / 400,000 X 3).
How To Join And Buy KAVA Token?
Here’s a step-by-step guide on how to participate in KAVA Token Sale on Binance Launchpad
Step 1: Register And Verify Account On Binance Exchange: This is to ensure that token sales are being done in compliance with regulatory requirements in users’ jurisdictions.
Step 2: KAVA Token Sale Rules
The Kava token sale will follow a lottery & airdrop format, with the recording of user Binance Coins (BNB) balances already having started at 2019/09/23 00:00 AM (UTC).
To buy and hold Binance Coin (BNB): Please read tutorial at Binance Exchange Tutorial
Binance will record user BNB balances for 30 days from 2019/09/23 00:00 AM (UTC) to 2019/10/23 00:00 AM (UTC). The final BNB holding amount for each user will be determined as the average of the 30 days.
An example of the average BNB holdings calculation for each user is below.
Average BNB Holdings on each Day
|30-Day Average BNB Holdings||(100 + … + 50 + … + 100）/ 30 = 83.3 BNB|
|Total Eligible Ticket(s)||1 Ticket|
Lottery Ticket Allocation
Users will be able to claim up to a maximum of 10 lottery tickets based on their daily average BNB holdings (represented by X below) over the 30-day period leading up to the lottery draw date.
Daily Average BNB balance (X)
No. of Lottery Tickets
|50 ≤ X < 100||1|
|100 ≤ X < 150||2|
|150 ≤ X < 200||3|
|200 ≤ X < 250||4|
|250 ≤ X < 300||5|
|300 ≤ X < 350||6|
|350 ≤ X < 400||7|
|400 ≤ X < 450||8|
|450 ≤ X < 500||9|
- 2019/09/23 00:00 AM (UTC) to 2019/10/23 00:00 AM (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a 30-day period. Your final average daily BNB balance over these 30 days will determine the number of tickets that you will able to claim.
- 2019/10/23 06:00 AM (UTC): Ticket claim will open at this time for all eligible users for a 24 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to completing the ticket claim. Please note that users will only be able to claim tickets once.
- 2019/10/24 06:00 AM (UTC): Ticket claim closes and the lottery draw begins.
- 2019/10/24 08:00 AM (UTC): Winning tickets are announced and the respective BNB will be deducted from each winning users’ accounts. Please ensure you have sufficient BNB in your spot exchange account to be deducted within 24 hours if you have a winning ticket. Please note that BNB in open orders, margin accounts or lending products will not be eligible to be deducted.
- 2019/10/24 08:00 AM (UTC): After this time, we will airdrop KAVA tokens to all participants that did not have a winning ticket.
Step 3: Buy KAVA Token
– Login Your Binance account and go to the Binance Launchpad page to find the KAVA project
– Go to the KAVA project page: Each Launchpad project requires a separate Token Purchase Agreement to be signed by each use
– On 2019/10/23 06:00 AM (UTC): Ticket claim will open at this time for all eligible users for a 24 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to completing the ticket claim. Please note that users will only be able to claim tickets once.
– On 2019/10/24 08:00 AM (UTC): Winning tickets are announced and the respective BNB will be deducted from each winning users’ accounts. Please ensure you have sufficient BNB in your spot exchange account to be deducted within 24 hours if you have a winning ticket. Please note that BNB in open orders, margin accounts or lending products will not be eligible to be deducted.
– Click on ‘Ticket Claim History’ at right top corner of page to check Your Lottery Results
– Get Your KAVA Tokens soon: Within 15 days after the token sale ends, You will be credited with the respective tokens to Your Binance account.
– You will be able to either directly trade the KAVA token on Binance Exchange or withdraw the tokens to Your personal wallet once the tokens are distributed.
* Users from the following countries will not be able to participate in token sales on the Binance Launchpad platform:
Belarus, Democratic Republic of Congo,Cuba, Iraq, Iran, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe.
Risk Warning: Binance Launchpad is a high-risk investment channel. You should be sensible in Your participation and be aware of investment risks. We are not liable for Your investment gains or losses. The information we provide for You to conduct Your own research. It is not investment advice.
KAVA Token Sale Details On Binance Launchpad – How To Join And Buy KAVA Token? – Cryptokiemtien.com