This press release was orginally distributed by ReleaseWire
Hong Kong, China — (ReleaseWire) — 07/28/2021 — All the desires in the world originate from freedom, so there will be super-comprehensive technologies such as the Internet and blockchain that can empower human beings with a high degree of freedom. And now, the development context of freedom has evolved from the Internet to the blockchain, and evolved from an inherent currency to a liquid certificate. After creating the basic blockchain token, the encrypted digital currency world hopes to make financial transactions more liberalized and decentralized. This is the origin of DeFi.
DeFi (Decentralized Finance) is a blockchain application project composed of a series of smart contracts and applications. It mainly refers to the establishment of a programmable public blockchain network such as Ethereum. DeFi takes cryptocurrency value anchoring, lending, swaps and other financial activities as its functional goals. Today, DeFi has emerged as an important player in the field of encrypted digital assets. But it is no longer a new toy for speculators to play with, nor is it a more sophisticated financial tool for those who like to keep their wealth outside the control of the central authority. The potential of DeFi is constantly being tapped, and DeFi will expand from Bitcoin and Ethereum to a wider range of low-liquidity cryptocurrencies.
Kava is a “supernova” in the DeFi field. It has an over-collateralized credit mechanism similar to MakerDAO. It is a cross-chain decentralized financial platform that provides mainstream digital asset mortgage loans and stable currency services. Kava has a large number of team members, all of whom are industry elites. At present, the project has been supported by more than one hundred companies around the world, including famous digital currency funds and blockchain projects such as Ripple and Cosmos.
The Kava blockchain is based on the Cosmos SDK, which focuses on cross-chain interoperability, and enables Kava to access assets from different blockchains. Kava focuses on the intersection of two major current trends in DeFi, namely lending and cross-chain interoperability. Therefore, Kava is also a decentralized Layer1 hub that supports cross-chain DeFi applications and services based on the Cosmos SDK, and is committed to providing product applications and developers with a barrier-free permanent financial service infrastructure. The Kava CDP lending platform based on the Kava blockchain and the cross-chain currency market HARD Protocol are combined to form a digital asset decentralized bank, which connects users with stablecoins, loans, interest-bearing accounts and other products, so that users can use Digital assets gain more usage scenarios and value.
There are three types of tokens in the Kava ecosystem, Kava tokens, USDX stablecoins and HARD tokens. Kava is the native token of the Kava blockchain and is indispensable for the security, governance and mechanical functions of the platform. Users can mortgage their encrypted assets in exchange for Kava’s stable currency USDX. HARD token is the governance token of HARD Protocol, which is used to encourage early participants to participate in the continuous development and management of the product.
Kava is also quite good in security and user interaction. Kava has already tried to integrate partner applications, so users don’t have to worry about their private keys or other technical issues, and it will be more convenient to use. However, the widespread application of DeFi still has a long way to go. We should be optimistic about DeFi and decentralized lending in the long-term in terms of cost savings, trust resolution, and financial risk reduction. Based on Kava’s multiple scopes of collective applications, in the future development of the DeFi field, Kava’s important role will gradually become irreplaceable.
At present, Kava has been launched on the international exchange ZB, which is favored by another exchange, so that DeFi applications like Kava can receive more effective support and promotion.
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