Target Amount: 500,000 USDT
Mode: Super Invest
Benchmark Price: 0.4USDT
Time: 14:00 Oct. 24 – 14:00 Oct. 25
Accepted Coin: USDT (wallet account)
Token to Receive: KAVA (future token)
Minimum Investment: 100 USDT
Maximum Investment: 2,000 USDT
Qualification: KYC completed; VIP 2 or above
Listing Arrangement: At 20:00 on Oct. 25, KAVA/USDT trading will be enabled
What is Super Invest?
Different from common fundraising rules, Super Invest ends when the time is due, rather than when reaches the target amount. Users are still able to participate when exceeded the target. When the fundraising closes, users get their shares based on a certain percentage and the extra coins will be returned to their account.
- KAVA is a future token that is not open to deposit or withdrawal until it is converted to spot token.
- If KAVA official adjusted the vesting rules, Hoo will make changes accordingly. Please stay tuned for the announcement.
- Any digital currency investment is risky. Please be prudent while participating.
Introduction to KAVA
Kava is a cross-chain DeFi platform offering collateralized loans and stablecoins to users of major crypto assets (BTC, XRP, BNB, ATOM, etc.). It is supported by over 100+ business entities around the world, including prominent crypto funds and major crypto projects like Ripple and Cosmos. The platform features two tokens: KAVA, a governance and staking token responsible for securing the network and voting on key parameters; and USDX, an algorithmically maintained stablecoin backed by crypto asset collateral.
Key Features and Highlights
Multi-collateral Debt Positions: The Kava platform supports lending against crypto assets from other networks such as BTC, XRP, BNB, and ATOM.
“No Counterparty” Lending: The Kava platform enables users to ‘self-issue’ loans, minting new USDX based on their deposited collateral and destroying USDX when users close out their debt positions.
Algorithmically Maintained Stablecoin: Using price oracles, Kava automatically auctions ‘at-risk’ collateralized debt positions that fall below the required debt-to-collateral ratio in order to maintain the price peg of USDX to USD.
Economically Incentivized Governance: Stakers of the KAVA token earn block rewards and fees paid by users but risk slashing and act as the lender of last resort if the system is not maintained properly.
According to the official rules, when the KAVA main-net goes live, 50% of the KAVA tokens will be vested in 6 months, and the rest will be vested quarterly over two years.
Hoo will take a snapshot of our users holding KAVA future token before the KAVA project vests 50% of the token for the first time. When the token is officially vested, we will convert the 50% KAVA future token into KAVA spot token. In the meanwhile, the KAVA future token will be renamed to FKAVA in order to differentiate. The FKACA/USDT is a future token trading pair, while the KAVA/USDT is a spot token trading pair, which will be open to deposit and withdraw at the same time.
Hoo will convert the FKAVA into KAVA spot tokens within two years according to official rules. After all conversions are completed, the FKAVA transaction pair will be delisted.
Oct. 23, 2019