Note: This is a crossposted piece of content for blurt.world that I created on 10/07/20. I own and have created this content, see details below.
KAVA is the 134th largest cryptocurrency by marketcap, and was a Binance IEO released in 2019. KAVA has plenty of liquidity, and trades on Binance, the Trust Wallet Exchange, Upbit and MXC. KAVA is a cryptocurrency project that aims to provide a high-yield return on cryptocurrency staked in its lending program. KAVA won Binance's Launchpad Project of 2020 award, and is worthy of your investment. Let's dive into KAVA, a cryptocurrency project with alot of potential.
What is KAVA?
KAVA is a digital asset built on the COSMOS blockchain. It is a proof of stake (POS) cryptocurrency, and is the governance token on the KAVA system. KAVA is a COSMOS-SDK project with a working DeFi product that allows users to make passive income, hedge their positions in cryptocurrency with generated stable coins and stake their KAVA governance tokens through validators for additional income as well. KAVA also has a decentralized exchange called "Switch". The problem KAVA seeks to solve is cross-chain operability of a fully functional decentralized cryptocurrency bank. In short, it aims to be a DeFi powerhouse that makes loans, exchanges and hedges and that works well with others.
What services does KAVA have?
There are two tokens on the KAVA system. The stablecoin that acts as loan collateral is called USDX, and the governance token is called KAVA. KAVA has both collateralized loans and smart contracts on its blockchain. Users can lend their digital assets for USDX, which is the collateral for the loans. KAVA also has a great exchange that functions across blockchains called Switch.
KAVA Labs also launched a DeFi project called Harvest, which is live at Harvest.io. It is a cross-blockchain lending project as well that includes lending, borrowing and interest payments on its platform. The HARD governance token is an asset on the KAVA blockchain, and the lending platform is worth checking out for competitive interest rates.
Why should you invest in KAVA?
DeFi services and products are everywhere, so why should you invest in KAVA? KAVA is a seeking to become a decentralized bank, and has the backing, support and technology to be a DeFi leader. KAVA has been invested into and supported by Ripple, a hedge fund called Arrington Capital and is a Binance mainstay with lots of liquidity. KAVA is also a young cryptocurrency with alot of growth potential that has yet to be realized. The main selling point of KAVA is that is has the potential to become a real decentralized bank, where all kinds of cryptocurrencies may be loaned out and income may be earned. KAVA is working with Ripple in earnest on its stablecoin and further developments. The KAVA exchange protocol called "Switch" can be used by other cryptocurrencies through cross-chain contracts, and Switch is incredibly fast and easy to use.
Originally published in my blurt account at the link below:
https://blurt.blog/blurtech/@dominion01/what-is-kava-why-you-should-invest-in-this-superior-defi-cryptocurrency-project
Also published in my Steemit account at myblurtrides1 and my Publish0x account at BitcoinCrazy.
Sources:
Image from Binance Research- KAVA
https://research.binance.com/en/projects/kava
2.https://www.coingecko.com/en/coins/kava
3.https://www.securities.io/investing-in-kava-everything-you-need-to-know/