Key Takeaways

  • Today, Kava launched its interoperable DeFi lending platform built on the Cosmos SDK.
  • BNB is the first asset to go live.
  • Minters of Kava’s USDX stablecoin will be eligible to receive rewards for the next year.

Share this article

Interoperable DeFi gains a further boost today as Kava launches its lending platform.

Built on the Cosmos SDK, Kava can interact with all blockchain assets. The first supported asset is Binance’s BNB, extending DeFi features to Binance Chain users.

Kava’s platform operates similarly to Maker and other DeFi lending dApps. Holders of BNB can deposit their tokens into the platform as collateral, and mint a loan in Kava’s stablecoin, called USDX. CEO and founder of Binance, Changpeng Zhao said:

SIMETRI Winning in Crypto

“We are excited that BNB users can now get access to DeFi products with Kava’s lending platform. By accepting BNB as collateral on its lending platform, Kava is creating another use case for BNB, which brings additional value for BNB users.”

The lending feature will be available via supported wallet and exchange applications, including Trust Wallet and Cosmostation.

To celebrate the launch, Kava is also running a promotion called “Crypto Payday.”

Cred - Safe and sound

Those minting USDX using their BNB as collateral are entered into a pool and will receive a share of 74,000 KAVA tokens (around $85,000 at the current price) each week. Rewards will be distributed every Wednesday at 14:00 UTC for the next year, with the first allocation taking place on June 24. The total prize pool is a whopping 3.84 million KAVA tokens, worth over $4 million at today’s prices.

Until recently, the DeFi ecosystem has been predominantly based on Ethereum. However, this comes with its own issues.

Gas fees on Ethereum can skyrocket in times of high demand, and the platform struggles with scalability.

Other projects such as Ren VM also aim to address the challenge of interoperability, helping to ensure that DeFi can thrive beyond the boundaries of Ethereum.

Share this article

13 COMMENTS

  1. Thanks for sharing your thoughts about монобанк кредитная
    карта. Regards

  2. It’s very effortless to find out any matter on net as compared to books, as I
    found this article at this web site.

  3. hello my lovely stopforumspam member

    What are the Types of Loans in Ohio depending on the purpose
    Specific purpose payday loans in Ohio. Funds received in debt may be spent only for a specific purpose specified in the loan agreement.
    Non-purpose loan. The debtor may spend the money received at his discretion.
    Most popular specific purpose payday loans in Ohio are:

    House loan. The most common, of course, is a mortgage when the purchased property acts as collateral for a loan. Sometimes a youth loan is issued, with lighter conditions for debtors. Still quite common is a housing loan that does not imply purchased housing in the form of collateral.
    Car loan – payday loans in Ohio to a car or similar vehicle. The key is often the purchased goods, making the terms of the loan better. Also, loan conditions are improved: car insurance, life and health insurance of the borrower, and receiving a salary to the account of the creditor bank.
    Land loan. To purchase a plot for construction or agricultural activities.
    Consumer. For purchases in modern supermarkets, equipment stores, you can take a personal loan right at the point of sale. Often, specialists located there can contact the bank and get a regular or fast payday loans. Borrowed funds automatically pay for the goods, and the consultant explains when and how to re-pay the debt.
    Educational loan. It is issued to students, as well as to applicants who have passed the competition, to pay for tuition at universities, colleges, etc.
    Broker loan. For the circulation of securities, payday loans in Ohio are issued to an exchange broker, se-curities are purchased securities.
    Others. Objectives not related to those listed, but agreed and approved by the creditor.

  4. Thanks for the marvelous posting! I quite enjoyed reading it, you can be a great author.I will make sure to bookmark your blog and will eventually come back later on. I want to encourage you continue your great work, have a nice morning!|

  5. I am really impressed together with your writing skills and also with the layout on your weblog. Is that this a paid theme or did you customize it your self? Anyway stay up the excellent quality writing, it is uncommon to peer a nice weblog like this one these days..|

  6. I feel that is one of the so much significant information for me. And i am happy studying your article. However should statement on few normal issues, The site taste is perfect, the articles is truly great : D. Excellent job, cheers|

  7. We are a bunch of volunteers and opening a new scheme in our community. Your website provided us with helpful info to work on. You have done an impressive task and our entire community might be grateful to you.|

  8. If some one wants expert view about blogging and site-building after that i propose him/her to go to see this website, Keep up the good work.|

  9. Hello, I would like to subscribe for this web site to take most recent updates, thus where can i do it please help.|

  10. Just wish to say your article is as surprising. The clarity in your post is simply excellent and i can assume you’re an expert on this subject. Fine with your permission allow me to grab your feed to keep up to date with forthcoming post. Thanks a million and please carry on the enjoyable work.|

  11. When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get four e-mails with the same comment. Is there any way you can remove me from that service? Thank you!|

LEAVE A REPLY

Please enter your comment!
Please enter your name here