What is Kava?
Omni -Kava is a DeFi protocol that allows the borrowing and lending of assets without a financial intermediary.
Kava is built on Cosmos SDK in order to take advantage of its low fees, interoperability, and development.
KAVA is the network’s native cryptocurrency, which is used for staking, paying transaction fees, and network governance. Kava currently has an uncapped maximum supply of tokens.
Kava network is a Layer 1 blockchain built on Cosmos SDK, supported by Ethereum Virtual Machine, and powered by the Tendermint consensus engine. Kava is seeking to combine the permissionless Etheruem and Cosmos ecosystems into a single, scalable network. This Co-Chain architecture allows for the flexibility of Ethereum and the smart contract development of Cosmos SDK. Kava users can borrow loans (in USDX, USD pegged stablecoin) by locking crypto assets into smart contracts via Cosmos. As the prevalence and demand for DeFi services has risen, Kava has become increasingly popular as a result of its development and uncomplicated use case.
Kava Labs (the main contributing team to Kava Network) was created by co-founders Brian Kerr, Ruaridh O’Donnell, and Scott Stuart in 2018. Brain Kerr served as Kava Lab’s CEO until 2021 at which point Scott Stuart took over. During October of 2019 the initial Kava mainnet was launched. Since then ew iterations have been launched, referred to as Kava 3- Kava 10. Each of these interactions added support for new assets, gateways and bridges. Some of the most prominent being the Kava Lending Platform and support of BNB, BTC, BUSD and XRP as collateral (Kava 3), the release of the Robo Advisor service and application which enabled a direct Ethereum bridge (Kava 7), and The full launch of the Kava Network with the co-chain architecture of the Ethereum and Cosmos Co-Chains (Kava 10). Kava has a variety of network upgrades and features in store, the full roadmap can be found here.
Kava has been seeing a rise in use cases and adoption as a result of programs such as Kava Rise, implemented to spur development. Its main features include:
A developer incentive program with over 200 million KAVA in on-chain incentives.
A 60/40 distribution between developers and stakers, with 0% going to the Kava Labs team
The future of Kava looks bright as the project continues to develop and improve its network. Kava has helped to forward the goal of DeFi mass adoption as a result of its ability to incorporate two interoperable blockchains and enable the development of a growing network of dApps (the full ecosystem can be found here). Due to its simplicity, functionality and scalability, Kava is quickly becoming a favorite of DeFi enthusiasts and users.
Many Kava holders prefer to not sell their KAVA and find KAVA staking to be a great way to passively earn more KAVA. Learn more about staking and how you can earn with your KAVA.
