Thread by @CryptoKaduna

1/ The @KAVA_CHAIN ecosystem is heating up with the 200M $KAVA developer incentives.

@EquilibreAMM is the largest DEX on #KAVA and is essential to help the ecosystem grow.

Let's take a look at $VARA 🧵

2/ @ChadCaff did an excellent thread on $VARA. He explained how the growth of the #KAVA EVM ecosystem relies on @EquilibreAMM.

https://twitter.com/ChadCaff/status/1633608826514739200

3/ The $KAVA ecosystem is poised to explode and there is one project that is almost essential to participate.

@EquilibreAMM is a DEX native to #KAVA and offers users a place to perform swaps on the KAVA EVM chain, provide liquidity and earn rewards.

4/ Swap

@EquilibreAMM is a DEX based on Velodrome and has plans on being the go-to DEX in the $KAVA ecosystem (if not already is).

Tokens that have been whitelisted by the team are accessible and can be swapped on the platform.

5/ The trading fees are the following:

• 0.3% on volatile pairs
• 0.04% on stable pairs

A volatile pair is assets such as $KAVA and $VARA, while stable pairs are assets such as $USDC and $BUSD.

6/ Emissions/LP

Emissions recently went live on @EquilibreAMM with liquidity pairs offering great APRs.

As more people buy $VARA to provide liquidity, the TVL will increase, so therefor the $KAVA incentives the protocol receives from @KAVA_CHAIN will be higher.

Nice flywheel.

7/ Caff explained perfectly how the flywheel works.

@KAVA_CHAIN monthly ecosystem incentives are the following:

( Protocol TVL / Total TVL in kava chain ) * 1M KAVA

8/ Governance

The @EquilibreAMM protocol is governed by users who hold $veVARA which is only obtainable by locking their native token $VARA in a smart contract.

With $veVARA holders can vote for gauges & govern over VARA emissions.

9/ As a reward, holders can claim $VARA emissions plus other rewards such as stables, blue chips & partner tokens.

The more $VARA you have locked increases your voting power and hence the number of rewards that you earn.

10/ TVL

@EquilibreAMM has only been live for a very short time and has already amassed a TVL (Total Value Locked) of $36 Million which is impressive when you take into account $KAVA as a whole has a TVL of $262M.

1400% growth in TVL in 24h and 2421% in 7 days.

11/ Tokenomics

@EquilibreAMM has two tokens.

$VARA which is an ERC-20 token used mostly for rewarding LPs through emissions.

$veVARA which comes in the form of an ERC-721 #NFT and is the governance token.

12/Token Distribution

Both VARA and veVARA have been distributed to protocols and users that the team believes will be the most beneficial to the protocol and provide liquidity

33.75% airdrop is aimed at 8-12 protocols that are most likely to contribute to @EquilibreAMM success

13/ The @EquilibreAMM team was allocated 15% of the supply which will be used to vote for bribes and cover ongoing expenses and further development.

14/ $VARA is the native token and can be staked to claim $veVARA and also be rewarded in return for providing liquidity through emissions.

Price: $0.94
Market Cap: $2.9 Million
TVL: 36.7M

15/ The @EquilibreAMM team uses a lock & govern approach to incentivize liquidity on the protocol.

Locking $VARA in return rewards the holder $veVARA allowing you to have a vote in how the protocol is governed.

16/ While $veVARA is technically an #NFT it does represent the amount of $VARA that you have locked.

Additional $VARA can be added to this #NFT at any time.

17/ While most traditional Dexes have one income stream for users in the form of farming and paying out fees generated to users.

@EquilibreAMM has gone to the extent of creating 4 ways users can earn.

•Farming
•Trading Fees
•Bribes
•Rebase

18/ With @EquilibreAMM already holding a bit over 10% of the total TVL on $KAVA and many people's go-to DEX on the network there is a real chance they solidify themselves as the go-to DEX for the ecosystem.

Once @KAVA_CHAIN have fixed the RPC issue, the TVL will explode imo.

19/ One of the big selling points for @EquilibreAMM is the 4 different potential revenue streams for users.

Pair this with the fact that it is currently sitting at under a $3 Million market cap and this is a gem well worth researching.

20/ Wondering how to fund your $KAVA EVM wallet?

Here is a guide: equilibre-finance.gitbook.io/equilibre-fina…

21/ While we wait for the KAVA team fix the RPC issue, we can use @Rabby_io (DeBank's wallet) which has over 44 RPC already configurated.

Here is a guide: equilibre-finance.gitbook.io/equilibre-fina…

22/ Useful Links

Website: equilibrefinance.com/swap
Discord: discord.gg/Z8SuEE5MZf
Docs: equilibre-finance.gitbook.io/equilibre-fina…
Twitter: twitter.com/EquilibreAMM
Chart: dexscreener.com/kava/0x9bf1e3e…

23/ Who might be interested in the main dex on Kava evm chain?

@Crypt0_Andrew @CryptoDamus411 @ChadCaff @MariusCrypt0 @RomeoTrades @cryptocevo @cryptolad1256 @defiprincess_ @resdegen @LadyofCrypto1 @ViktorDefi @VirtualKenji @LouisCooper_ @TheDeFinvestor @DeFiMinty @TheDeFISaint

24/ If you enjoyed the thread, you can support me by retweeting the first post below:

https://twitter.com/CryptoKaduna/status/1633826070490402821