Kava Announces The Loan Wars: $150K IBC Testnet Competition

SAN FRANCISCO--(BUSINESS WIRE)--Kava, a Layer-1 blockchain and decentralized autonomous organization (DAO), will be hosting an 11-day testnet competition to prepare for the launch of Kava 9 and IBC.

In preparation for the launch of the Kava 9 mainnet upgrade, which includes the integration of Cosmos’ Inter-Blockchain Communication Protocol (IBC), Kava is hosting The Loan Wars, a testnet competition with $150K in prizes up for grabs.

The event will run from 17:00 PST December 15th to 17:00 PST December 26th. Contestants will be tasked with earning and claiming rewards using the Mint, Lend, and Swap protocols on Kava. Contestants will be provided with native Kava assets and a mixture of IBC assets, and will need to use IBC to transfer the assets between zones. The IBC assets available for the event will be $ATOM, $LUNA, $OSMO, and $AKT.

“This is the biggest testnet event that Kava has ever done. The IBC integration is a huge step for the Kava ecosystem, so we really want to get all the IBC communities involved to test it out.” — Scott Stuart, CEO of Kava Labs

The person with the most claimed rewards by the end of the event will be crowned Loan Wars Champion, winning $20K in a combination of $KAVA and $ATOM. The remaining $130K will be split between 210 other winners in the following prize tiers:

Fleet Command: 10 x $5K in $KAVA
Alpha Squadron: 50 x $1K in $HARD
Bravo Squadron: 150 x $200 in $SWP

Registration for the event is now open here: https://kava.io/loanwars

About Kava

Kava (https://kava.io) is a secure, highly scalable Layer-1 network and ecosystem built using the Cosmos SDK. Featuring institutional-grade security and a unique user interface, Kava was built to unlock the value of DeFi for mainstream users by providing a trusted home for best-in-class DeFi services that can scale to meet global demand.

To learn more about Kava, please visit: https://kava.io