Trade Early for More on MojitoSwap
MojitoSwap is a decentralized exchange running on the KuCoin Community Chain, with many features that enable members to earn and win tokens. It is fast, cheap, and easily accessible to everyone.
To kick off our partnership, OpenLeverage is offering rewards for lending and margin trading pairs on MojitoSwap.
Trading and Lending Campaign
MojitoSwap created two trading pairs on OpenLeverage for the Mojito Trading and Lending Campaign:
- MJT — KCS
- MJT— USDT
OpenLeverage will offer 500,000 OLE rewards for MJT traders, which will be distributed as 350,000 OLE for the Trading Campaign and 150,000 OLE for the Lending Campaign. The MojitoSwap Trading and Lending Campaign will last from April 18, 2022, at 1 PM UTC to April 25, 2022, at 1 PM UTC.
Trade Early for More On MojitoSwap
Members who open positions with trading volume levels during the campaign will be awarded the corresponding $OLE rewards.
We will calculate the trading volume of a single transaction, not the cumulative volume. If your transaction does not meet the minimum requirement, then you will not be rewarded.
Each address can receive a maximum of 3,000 OLE rewards before dilution through the activity. When users receive 3,000 OLE rewards, the address can still trade but will not earn extra rewards.
The Trade Early for More Campaign will last for 7 days. With each new day, the rewards will be reduced by 5%, meaning the earlier you trade, the more rewards you can earn.
Undiluted rewards levels are shown below:
Day 1 (Hours 0–24)
Level 1: Trading Volume $100 (12 OLE Reward)
Level 2: Trading Volume $250 (30 OLE Reward)
Level 3: Trading Volume $500 (60 OLE Reward)
Level 4: Trading Volume $750 (90 OLE Reward)
Level 5: Trading Volume $1,000 (120 OLE Reward)
Level 6: Trading Volume $2,500 (300 OLE Reward)
Level 7: Trading Volume $5,000 (600 OLE Reward)
Level 8: Trading Volume $7,500 (900 OLE Reward)
Level 9: Trading Volume $10,000 (1,200 OLE Reward)
Day 2 (Hours 24–48)
Level 1: Trading Volume $100 (11 OLE Reward)
Level 2: Trading Volume $250 (29 OLE Reward)
Level 3: Trading Volume $500 (57 OLE Reward)
Level 4: Trading Volume $750 (86 OLE Reward)
Level 5: Trading Volume $1,000 (114 OLE Reward)
Level 6: Trading Volume $2,500 (285 OLE Reward)
Level 7: Trading Volume $5,000 (570 OLE Reward)
Level 8: Trading Volume $7,500 (855 OLE Reward)
Level 9: Trading Volume $10,000 (1,140 OLE Reward)
Day 3 (Hours 48–72)
Level 1: Trading Volume $100 (11 OLE Reward)
Level 2: Trading Volume $250 (27 OLE Reward)
Level 3: Trading Volume $500 (54 OLE Reward)
Level 4: Trading Volume $750 (81 OLE Reward)
Level 5: Trading Volume $1,000 (108 OLE Reward)
Level 6: Trading Volume $2,500 (271 OLE Reward)
Level 7: Trading Volume $5,000 (542 OLE Reward)
Level 8: Trading Volume $7,500 (812 OLE Reward)
Level 9: Trading Volume $10,000 (1,083 OLE Reward)
Day 4 (Hours 72–96)
Level 1: Trading Volume $100 (10 OLE Reward)
Level 2: Trading Volume $250 (26 OLE Reward)
Level 3: Trading Volume $500 (51 OLE Reward)
Level 4: Trading Volume $750 (77 OLE Reward)
Level 5: Trading Volume $1,000 (103 OLE Reward)
Level 6: Trading Volume $2,500 (257 OLE Reward)
Level 7: Trading Volume $5,000 (514 OLE Reward)
Level 8: Trading Volume $7,500 (772 OLE Reward)
Level 9: Trading Volume $10,000 (1,029 OLE Reward)
Day 5 (Hours 96–120)
Level 1: Trading Volume $100 (10 OLE Reward)
Level 2: Trading Volume $250 (24 OLE Reward)
Level 3: Trading Volume $500 (49 OLE Reward)
Level 4: Trading Volume $750 (73 OLE Reward)
Level 5: Trading Volume $1,000 (98 OLE Reward)
Level 6: Trading Volume $2,500 (244 OLE Reward)
Level 7: Trading Volume $5,000 (489 OLE Reward)
Level 8: Trading Volume $7,500 (733 OLE Reward)
Level 9: Trading Volume $10,000 (977 OLE Reward)
Day 6 (Hours 120–144)
Level 1: Trading Volume $100 (9 OLE Reward)
Level 2: Trading Volume $250 (23 OLE Reward)
Level 3: Trading Volume $500 (46 OLE Reward)
Level 4: Trading Volume $750 (70 OLE Reward)
Level 5: Trading Volume $1,000 (93 OLE Reward)
Level 6: Trading Volume $2,500 (232 OLE Reward)
Level 7: Trading Volume $5,000 (464 OLE Reward)
Level 8: Trading Volume $7,500 (696 OLE Reward)
Level 9: Trading Volume $10,000 (929 OLE Reward)
Day 7 (Hours 144–168)
Level 1: Trading Volume $100 (9 OLE Reward)
Level 2: Trading Volume $250 (22 OLE Reward)
Level 3: Trading Volume $500 (44 OLE Reward)
Level 4: Trading Volume $750 (66 OLE Reward)
Level 5: Trading Volume $1,000 (88 OLE Reward)
Level 6: Trading Volume $2,500 (221 OLE Reward)
Level 7: Trading Volume $5,000 (441 OLE Reward)
Level 8: Trading Volume $7,500 (662 OLE Reward)
Level 9: Trading Volume $10,000 (882 OLE Reward)
The Trade Early for More Campaign will have a maximum of 350,000 OLE rewards. When the number of rewards earned exceeds 350,000 OLE rewards, all rewards will be diluted according to the formula below:
diluted rewards = undiluted reward * (350,000 / earned total reward)
For example: On Day 1, Alice makes a $1,000 trade and earns 120 OLE. On Day 2, she makes another $1,000 trade and earns 114 OLE. At the end of the Trade Early for More Campaign, the total prize pool generated 700,000 OLE. Using the formula above, Alice earned 128 OLE after dilution:
128 = (120 + 114) * (350,000/700,000)
Please note that volume count only includes opening positions, but not closing positions. Each address can receive a maximum of 3,000 OLE rewards from this campaign.
Lend to Get Rewards
During the campaign period, you can lend assets to MJT — KCS and MJT — USDT pairs and receive lending rewards based on the amount and length of lending.
The total reward for the lending campaign is 150,000 $OLE. The following formula will be used to calculate the reward for each user:
Referral Program and Invitation League
Invite your friends to get on the Invitation League, where 46.6% of the trading fees will be distributed to the 3 top referrers at the end of each epoch. Of the pool, first place will receive 50%, second place will receive 30%, and third place will receive 20%.
The Referral Program is also live, where you can get up to 25% of your friend’s rewards. For example, if your friends earn 100 OLE tokens, you can earn 25 OLE tokens. Your friends earn and you can get rewarded, too.
Invite your friends to maximize your rewards and start trading here.
How To Trade or Lend MJT On OpenLeverage
1. Open the OpenLeverage website and click on “Go to App.”
2. Connect your MetaMask wallet by clicking on the “Connect Wallet” button at the top right corner. Select Network “KuCoin Community Chain”.
3. On the left menu, click on “Margin Trade” and select MJT/KCS or MJT/USDT to trade.
The middle of the dApp is the chart of the trading pair, and the right side is the margin trading operation panel. You can adjust the conditions of the trade, such as long/short, leverage level, and deposit margin funds according to your risk appetite.
You can create a watchlist by clicking on the star icon next to the pair.
Select “Long MJT” or “Short MJT.”
For first-time USDT users, click “Approve USDT.” A MetaMask confirmation page will pop up. Review the information and click “Confirm” once you are comfortable giving the protocol permission to access your USDT.
4. View your trade by clicking “My Positions” in the menu bar.
To close your position, you may click “Close.” You can choose to partially close your position by entering a number in “Input Amount” or selecting a percentage.
To avoid having your position liquidated, an additional margin may be added by clicking “Add Margin” and specifying a number or percentage of your available wallet collateral.
Click “History” on the top right corner to view historical margin trades and liquidation status.
5. Click on the left menu button “Lend To Earn,” select MJT Pools, select MJT — USDT to lend your MJT/USDT
Click “Deposit,” enter the amount you want to lend, and then click “Deposit” to authorize the transaction. MetaMask transaction confirmation will pop up automatically. Click the “Confirm” button, and wait until the transaction completes successfully.
About MojitoSwap
MojitoSwap adopts AMM mechanisms to provide users with a KRC20 token exchange service. You can swap mainstream assets such as ETH, KCS, MJT, USDC, and USDT.
The service provided by MojitoSwap is decentralized. The difference between DEX and centralized exchanges is that users can complete the exchange of crypto assets without registering or logging in. Compared with Ethereum and Bitcoin networks, MojitoSwap has lower gas fees and faster transaction speed.
About OpenLeverage
OpenLeverage, a permissionless lending and margin trading protocol, is deployed on Ethereum and the BNB Chain, with future multi-chain deployments planned. The permissionless design of the protocol allows users to launch a leverage trading market for arbitrary trading pairs, integrating with the liquidity provided on decentralized exchanges. OpenLeverage provides a permissionless, decentralized, scalable, and secure leveraged trading facility that serves the long tail and fast-growing DeFi market.
Since their successful launch on Ethereum mainnet in December 2021, the BNB Chain in February 2022, and more recently onto KCC in April 2022, OpenLeverage has been improving the protocol and interface in the best interest of their community. OpenLevereage currently has grown to more than $185 million trading volume, $12 million in TVL, with thousands of active addresses.
