Kava has just raised more than $185 million, showing that the project has great and beautiful ambitions.
With all the security issues encountered in DeFi, Kava Labs wants to focus on security in transactions.
In fact, like almost all blockchains, Kava wants to try to make the use of DeFi simpler for mass adoption. Indeed, casually, the DeFi has become sufficiently complex with a lot of chains, protocols, networks, concepts to understand, etc.
It's not easy for a beginner to get through it and understand the underlying mechanics.
So, a new arrival will certainly need to use different decentralized applications and even different tools (ever more numerous once again) to be able to use some services. Let's be clear, it quickly becomes a hodgepodge in the head of a person who discovers cryptos, as there are so many things to know.
The CEO of Kava Labs (Scott Stuart) therefore wants to build a healthy, secure and easy-to-access ecosystem.
Introducing Kava (KAVA)?
Kava has a layer 1 architecture called “co-chain” with Ethereum and Cosmos. The Kava network then combines the flexibility and speed of development of smart contracts of Ethereum with the interoperability of the Cosmos SDK in a single network. All backed by the lightning-fast Tendermint consensus. This is what makes kava special in technical terms and without going into details.
Built in part on the Cosmos blockchain, the blockchain is best known for its lending system. Kava uses a collateralized debt position system. This then ensures that loans (made in Stabelcoin) always have collateral. In the event that the borrower can no longer hold his granites, then kava will equity the collateral and send it to an auction space. In fact, Kava issued its USDX stablecoin based on dollars.
The Kava blockchain also has its native KAVA token. This utility token is also used for governance and also serves as a reserve currency in the ecosystem.
As such, the financing series closed with $185 million raised among recognized investors in the sector.
The kava blockchain wants to use funds to encourage the creation and launch of new projects to expand the ecosystem.
The team announced that they will extend the network to Ethereum via the creation of a bridge including the interoperability of the Cosmos SDK. This is planned for March 8, 2022. Yes, it's Women's Day and on a communications level, it might not make it... Yes?
We’re keeping the date, in any case 😉
- Discover le official website of the project.
- You can buy Kava on most exchange platforms like Binance, For example. Be careful, always do your research and check the course before investing!
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