What is Kava? Details of the KAVA project, the 10th IEO on Binance Launchpad

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2021-03-22 06:52:40

Having never disappointed investors, Binance Launchpad has made a strong impression since 2017, with high-return token projects. Will Kava’s successor token have “hidden” potential to be expected? What do you hesitate without sitting down with CHK to find out what Kava is? How does this token work and is as successful as the previous Binance projects? Subscribe to this article!

What is Kava?

Kava is the DeFi cross-chain platform, providing mortgage loans and stablecoins that allow users to mortgage large crypto assets such as BTC, AYOM, BNB, XRP,…. Kava is supported by more than 100 business entities worldwide, including major crypto hedge funds such as Ripple and Cosmos.

What is Kava

KAVA is a token built in the lottery and airdrop format. KAVA will initially be released as a BEP2 asset on Binance Chain.

KAVA token details

  • Token code: KAVA
  • Launchpad Hard Cap: 3,000,000 USD
  • Total supply: 100,000,000 KAVA
  • Total tokens allocated to Binance Launchpad: 6,521,739 KAVA (6.52% of total supply)
  • Provide initial circulation: 13.69% of total supply
  • Token price: 1 KAVA = 0.46 USD (price in BNB will be determined before the lottery opening date)
  • Token format: lottery and airdrop
  • The maximum number of tickets to win: 15,000
  • Allocated for each winning ticket: 200 USD = 434.78 KAVA
  • The total amount of money to be airdropped: 326,087 KAVA
  • Token support: BNB

Allocation of Kava tokens

KAVA token issuance schedule

Lottery opening time

  • September 23, 2019 – October 23, 2019: Binance will record users’ BNB balances for 30 days. How to calculate average BNB balance per day is available at: https://www.binance.com/en/support/articles/360031505011
  • 06:00 AM on October 23, 2019 (UTC): lottery opening to eligible subjects during 24 hours. Before completing the lottery purchase requirement, users must sign a token purchase agreement. Note that lottery tickets can only be purchased once.
  • 06:00 AM on October 24, 2019 (UTC): close the lottery ticket claim and begin the lottery draw.
  • 08:00 AM on October 24, 2019 (UTC): announce the winning ticket and the corresponding BNB will be deducted from each winner’s account. Make sure you have enough BNB in ​​your account to be deducted within 24 hours if you win! Note: BNB on open orders, margin accounts or loan products will not be accepted for deduction.
  • 08:00 AM on October 24, 2019 (UTC): KAVA token airdrop time for those who join without winning.

Distribution of lottery tickets

Users are allowed to claim 10 lottery tickets based on average BNB holdings per day (X) for the 30 days prior to the start of the lottery draw.

For example: 50 ≤ X <100 means that your average daily BNB balance is kept between 50 and less than 100 BNB.

Average BNB balance per day (X) Lottery ticket number
50 ≤ X <100 first
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
≥ 500 ten

Note: Readers who participate need to complete their account verification and consider whether or not to participate. The regions restricted from participation include: Belarus, Democratic Republic of the Congo, Cuba, Iraq, Iran, North Korea, Sudan, Syria, the United States and its territories (U.S. Samoa, island Guam, Northern Mariana Islands, Puerto Rico and US Virgin Islands), Zimbabwe.

Method of KAVA airdrop

  • There are about 327,087 KAVA tokens being airdropped for launchpad participants without winning tickets.
  • Airdrop amount for each person who does not have a winning ticket = (Number of non-winning tickets is held by each non-winning participant / Total number of non-winning tickets of all non-winning participants) x The total amount of money to be airdropped. Note: Even having 1 winning ticket is not eligible to participate in the airdrop

For example: A has 3 tickets, of which there are only 2 winning tickets. The total number of non-winning tickets of the participants who did not win is 100 tickets. So A will receive the airdrop amount: 2/100 x 327.087 = 6.54174 KAVA.

Development partner

Partner Kava

The above article is not investment advice that CHK just wants to introduce to you to read a new product of the Binance Launchpad floor. It is necessary to study KAVA carefully and consider your eligibility before making an investment as it may affect your personal interests. Ensure there is enough capital in case of investment risks at any time.

You guys also know Binance Launchpad As the world’s top 1 token issuer, this new project is worth looking forward to. Know that the field of crypto investment always comes with many market challenges and investment risks, but not so equating everything or judging anything in advance. CHK reminds you to always consider carefully before every investment decision. Always follow the movement of the market and be skillful in choosing investment objects, everyone! If you have any questions or comments, please leave them below the comments.

Each of your comments will help CHK become more and more complete in the following articles. Thank you for always interested in and supporting the articles of CHK.

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