Launching liquidity mining campaign for Kava's HARD Protocol

Blog»Launching liquidity mining campaign for Kava's HARD Protocol
kava-liquidity-mining

Yingdan Liang

2020-11-06 · 5 min read

The BIGGEST ever liquidity mining reward pool is coming to Hummingbot Miner!

We are super excited to announce a new liquidity mining campaign for Kava’s HARD Protocol that will start on November 10th, 2020 12:00am UTC. The HARD Protocol liquidity mining campaign will distribute 10,000 USDT rewards in the first week alone, with an initial total reward pool of USDT 30,000 over 12 weeks. Both the Kava and Hummingbot communities will soon be able to participate in this BIGGEST ever reward pool by market making and contributing to the liquidity for the newly listed HARD token.

In this post, we are going to introduce the HARD Protocol to the Hummingbot community and give both the Hummingbot and Kava communities an overview of the upcoming campaign.

About Kava

Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB and ATOM to name a few. The Kava platform has two types of tokens, the KAVA token and the USDX stablecoin where the KAVA token is the native token of the Kava blockchain integral in the security, governance, and mechanical functions of the platform. Users can collateralize their crypto assets in exchange for Kava’s stablecoin, USDX. Kava’s stablecoin provides a high interest yield earning users more than they would with a traditional cash or savings account at a bank, but unlike traditional savings accounts.

About HARD Protocol

HARD Protocol is the world’s first cross-chain money market, which is built on the interoperable Kava blockchain. It aims to provide the ability to lend, borrow, and earn with a wide variety of digital assets including BTC, XRP, BNB, BUSD, KAVA, USDX, and others. Core to the HARD Protocol is the HARD token, a governance token that enables holders to have a say in the on-going management and evolution of the platform. The HARD token is used for platform governance voting, as a reward for lenders and borrowers and for KAVA token stakers on the platform.

The HARD token was initially listed on Binance.com on November 6th, 2020 6:00am UTC; learn more about the new tokens here: Binance Research and Introducing Hard Protocol (HARD) on Binance Launchpool!

Liquidity Mining Campaign for HARD Tokens

The Hummingbot team is very excited to work with Kava and the HARD Protocol because it allows us to demonstrate how Hummingbot Miner can address one of the biggest needs for market makers: price discovery for new token issuances. Typically when a new token is issued into the market, there may be some volatility as the market tries to figure out and agree on what the price and value of the new tokens should be. This process of price discovery is where we believe decentralized market making offers a lot of benefits and advantages: the more traders that are actively market making and trading the tokens, the more efficiently this process of price discovery can occur.

The liquidity mining campaign also offers a way for Kava and the HARD Protocol to reach out and market to the trader community, in particular the quant/algo traders, by offering incentives for providing liquidity and order book depth that help contribute to the tradability of the new HARD tokens.

Hummingbot Miner also creates a way for traders to get involved in the world of market making and automated trading, while earning rewards to supplement trading profits and losses. Hummingbot’s open-sourced trading bot has successfully converted hundreds of traders into quant/algo traders, introducing many traders to the fast-growing method of trading in the crypto markets.

Campaign Terms²

  • Start date: November 10, 2020 12:00am UTC

  • Total reward pool*:

    • USDT 10,000 for the 1st week (USDT 5,000 for each eligible token pair),

    • USDT 30,000 in total over 12 weeks (the allocation of rewards from the 2nd week to 12th week to be announced)

  • Eligible token pairs: HARD/BTC, HARD/USDT

  • Eligible orders: maker orders placed with spreads of 2% or lower

  • Exchange: binance.com

Join this campaign in the first week!

reward-per-week

The reward pool of this campaign is front-loaded as shown in the above figure. Make sure to participate as early as possible to share in the USDT 10,000 week 1 reward pool! Also, Kava may consider increasing the reward pool for the remaining weeks if the first week’s campaign receives great participation and strong liquidity, so even more incentive to participate early! Let’s work together to grow the pool!


*For full terms of the campaign, please see liquidity mining campaign terms.

To learn more about liquidity mining, see below:

Hummingbot Miner’s app: current liquidity mining campaigns

Hummingbot Help Center

Liquidity mining basic training video

Liquidity mining advanced training video

Getting started with Hummingbot

Hummingbot discord community


To learn more about Kava and the HARD Protocol:

Twitter: twitter.com/kava_labs

Kava Telegram Community: t.me/kavalabs

Kava News: t.me/kavaofficial

Twitter: twitter.com/hard_protocol

HARD Telegram Community: t.me/hard_protocol

HARD News: t.me/hard_official


Important notes and disclaimers

Please review the Liquidity Mining Policy for the full disclaimer, including policies related to the use of Hummingbot.

The content of this Site does not constitute investment, financial, legal, or tax advice: none of the information contained on this Site constitutes a recommendation, solicitation, or offer to buy or sell any digital assets, securities, options, or other financial instruments or other assets, or to provide any investment advice or service.

No guarantee of profit: CoinAlpha does not claim that liquidity mining and participation in liquidity mining campaigns will be profitable, however measured, for the user. Liquidity mining yields are a measure of rewards compared to assets used for liquidity mining, excluding any gains or losses incurred from the underlying trading strategy.

  1. Eligibility requirements: participation in liquidity mining is subject to eligibility requirements as specified in the liquidity mining policy.

  2. Campaign terms subject to change: terms may be modified over the course of the campaign. We will announce any changes, if any, on our discord and reddit; the most up to date terms will also be posted on the liquidity mining campaign terms and the miners app.

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