Kava is a DeFi cross-chain project based on Cosmos that provides users with access to secured decentralized loans and stablecoins. Unlike other DeFi platforms, it currently supports 4 cryptocurrencies, such as BTC, ATOM, XRP, BNB. And Kava's main purpose is to become the standard one offering all major crypto assets.
The KAVA token and the USDX stablecoin are the two main cryptocurrencies featured on the Kava platform. KAVA is the staking and governance native token of its own blockchain. It gives owners the opportunity to stake and receive block rewards. USDX is a synthetic US dollar stablecoin. The KAVA staking reward is around 5.5%, while the USDX has a savings rate of 4.5%. These are promising rates.
Kava was founded by Brian Kerr, CEO (who is also Snowball and DMarket.io advisor), and Ruarid O'Donnell, blockchain development lead. It happened in 2017. However, during that year there were few signs of Kava’s existence.
In 2019, they released the CDP system, which is considered to be the main Kava’s product. The Kava CDP platform allows people to use your electronic funds as collateral to obtain a loan in USDX. Once the debt is paid off, the system burns the USDX and the mortgage returns to the user.
The project team, Kava Labs, has been involved in the development of blockchain solutions for such projects as Ripple, Tezos Tendermint / Cosmos, MakerDao, etc. In March 2019, Xpring, a division of the Ripple ecosystem that allows banks, payment providers, and exchanges to leverage blockchain technology invested in Kava Labs. In 2020, Kava launched cross-chain assets in the CDP system on the main network. Now the Kava team is working on a Trust Wallet integration.
We thank you for expressing interest in the Kava project. We hope you liked the information above. Now you may want to buy KAVA and join its community. You need to take a few simple steps. We suggest you go to the SimpleSwap homepage and follow the instructions below:
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