Trade with MojitoSwap to Win 500,000 OLE and 15,000 MJT
OpenLeverage and MojitoSwap are collaborating to encourage more members to use OpenLeverage for margin trading on KCC, by offering rewards to traders. OpenLeverage is offering 500,000 OLE, while MojitoSwap will offer 15,000 MJT for the campaign.
The Trading Campaign will be divided into two phases.
The first phase will last three days, from May 5, 2022, at 12 PM UTC to May 8, 2022, at 12 PM UTC. All users can participate in the first phase of the campaign.
The second phase will last for five days, from May 8, 2022, at 12 PM UTC to May 13, 2022, at 12 PM UTC. Addresses holding 100 $MJT (snapshot on May 9 at 12 PM UTC) are invited to participate in the second phase of the campaign.
Trading and Lending Campaign
The following 5 trading pairs are rewarded pairs for this campaign:
- USDT-MJT
- MJT-KCS
- USDT-KCS
- KCS-ETH
- KCS-BTCK
OpenLeverage will offer 500,000 OLE rewards for traders, which will be distributed as 350,000 OLE for the Trading Campaign and 150,000 OLE for the Lending Campaign. MojitoSwap will provide traders with 15,000 MJT for the Trading Campaign.
The total rewards pool is 500,000 OLE & 15,000 MJT.
In the first phase, the trading reward is 150,000 OLE and 5,000 MJT, in the second phase, the trading reward is 200,000 OLE and 10,000 MJT.
The Lending Campaign will not be split into 2 phases and it will have a separate 150,000 OLE rewards.
Lend to Get Rewards
During the campaign period, you can lend assets to the following 5 pairs and receive lending rewards based on the amount and length of lending:
- USDT-MJT
- MJT-KCS
- USDT-KCS
- KCS-ETH
- KCS-BTCK
The total reward for the lending campaign is 150,000 $OLE. The following formula will be used to calculate the reward for each user:
Trade Early for More on MojitoSwap for OLE and MJT
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.
At each phase, 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.
During the Trade Early for More Campaign, 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 here.
The Trade Early for More Campaign will have a maximum of 150,000 OLE (in the first phase) and 200,000 OLE (in the second phase). When the number of rewards earned exceeds the rewards pool, all rewards will be diluted according to the formula below:
diluted rewards = undiluted reward * (150,000 or 250,000/ earned total reward)
For example: In the first phase, on Day 1, Alice makes a $1,000 trade and earns 108 OLE. On Day 2, she makes another $1,000 trade and earns 103 OLE. At the end of the Trade Early for More Campaign, the total prize pool generated 300,000 OLE. Using the formula above, Alice earned 105.5 OLE after dilution:
105.5 = (108 + 103) * (150,000/300,000)
MJT will be distributed based on the number of OLE you have earned.
In the first phase, MJT reward = (earned OLE/total OLE pool) * 5,000 MJT
In the second phase, MJT reward = (earned OLE/total OLE pool) * 10,000 MJT
For example, in the first phase, if you have earned 1,500 OLE and the cumulative reward issued is 150,000 OLE, the amount of MJT earned will be:
50 MJT = 1,500 OLE/150,000 OLE * 5,000 MJT
MJT rewards can be claimed 3 business days after the end of the campaign. You can find the MJT claim button on the “Rewards” page.
Please note that volume count only includes opening positions, but not closing positions.
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.
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, the BNB Chain, and KCC, 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 our 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 $300 million trading volume, $12 million in TVL, with over 13,000 active addresses.
