Just came across @KairosSwap's Horizon Quest, a two-week interest rate swap trading competition running Oct 16–30 on Ethereum. $1,000 USDC in prizes, and the leaderboard still looks pretty open 👀 I've previously covered how Kairos can help DeFi users lock their borrowing costs, but this time I decided to try the trading side myself. So this time I tried longing rates on Kairos. My play: • Market: Aave's USDT borrowing rate • Notional: 1M USDT • Position: Pay fixed at 4.12%, receive variable • Duration: 1 day (will adjust based on today's performance) • Total collateral + bounty: 14.38 USDT Yes, that's $1M in notional exposure with only ~$14 posted in collateral. Essentially, I'm betting that Aave's borrowing rate will rise. If the average variable rate over my swap term exceeds my fixed rate by enough to cover costs, I profit. Otherwise, I lose money. Of course, that tiny collateral requirement comes with extremely high leverage, and I can lose my entire deposit. What's interesting is that Kairos lets you trade interest rate movements rather than just token prices. And there's more than one way to compete. The $1,000 USDC prize pool covers several categories, including Top P/L, Most Committed, long-dated holders, and a free raffle. With the leaderboard still looking relatively quiet, I thought this was a good opportunity to get some hands-on experience. If you've been curious about interest rate swaps, you can check out the competition here: https://t.co/CqBLrZhDcR