Kava Launches Rebranded Product Portfolio
For DeFi to grow, it must evolve. Access to growth does not need to mean increased exposure to risks.
Update: Kava successfully launched its Kava 9 mainnet upgrade at 16:00 UTC on January 19, 2022. The upgrade implemented Cosmos’ IBC protocol, enabling the use of several IBC assets in the Kava ecosystem. In addition, users can now transfer native Kava assets to other chains.
Kava 9 also implements several core infrastructural changes, paving the way for EVM support in H1 2022 and a launchpad for driving liquidity for new projects on the network, supported by a new suite of developer tools.
Read more about the Kava 9 upgrade here: kava.io/kava-9
For over four years, Kava Labs has been contributing to building a portfolio of decentralized products and services that allow users to gain access to all of the benefits of DeFi, but without the risks present in the current marketplace. With each launch and upgrade, Kava Labs continues to deliver on the promise of constructing an open and scalable institutional-grade platform that provides the same level of trust, security and ease of use as main street financial products.
Starting today, when a user lands on Kava, they will see a new product naming structure that reflects institutional-grade architecture — a suite of protocols whose names align with the actions and results they enable — built on DeFi’s safest technology platform.
Introducing the Kava Mint, Kava Lend, and Kava Swap Protocols
The Kava Platform is a decentralized network purpose built for scalability and security. It provides access to high yield earning opportunities, inclusivity and no-limits in a de-risked DeFi model. At the center of this is a safe, intuitive and complete user experience that creates the base layer for financial service applications.
The new protocol names will help users and the market more clearly understand the features, capabilities and value of each application and the value they create both as independent applications and by using them together.
- Kava CDP is now Kava Mint and allows users to take out $USDX stablecoin loans using their assets as collateral
- Hard is now Kava Lend and allows users to earn rewards by supplying and borrowing assets from money markets
- Swap is now Kava Swap and allows users to buy and sell tokens across the Kava Blockchain, and earn rewards by providing liquidity to pools.
All of these 3 protocols are built on the Kava Platform and come complete with interoperable cross-chain tooling, secure price feeds and institutional-grade safety and reliability.
Governance
The new naming structure will also provide for a clearer understanding of each protocol, what products they govern and how and when token holders can directly participate in the shaping of their future development. With the launch of onchain governance for all protocols on August 30th, token holders will now have access to direct voting participation within each of the following tokens.
- The Kava Platform runs on the Kava Blockchain and is governed by the $KAVA token
- Kava Mint protocol runs on the Kava Platform and is governed by the $KAVA token
- Kava Lend protocol runs on the Kava Platform and is governed by the $HARD token
- Kava Swap protocol runs on the Kava Platform and is governed by the $SWP token
Select Use Case Examples
The three protocols can be used independently, and they function in combination with each together as well.
1️⃣ User loads an asset to the Kava Blockchain
2️⃣ Supplies that asset in Kava Mint and borrows $USDX
3️⃣ Supplies that USDX to Kava Lend to earn $KAVA and $HARD rewards
4️⃣ Delegate vesting $KAVA rewards to a validator to earn liquid rewards
5️⃣ Borrows $BTC from Kava Lend and adds to a Kava Swap pool to earn $SWP rewards
The Kava Product Roadmap
The launch of Kava 5 and Hard V2 earlier this year completed the vision of the two original protocols and transitioned Kava from a single application blockchain to an industry-leading DeFi platform. Building on this, the launch of Kava Swap extends the value generating capabilities of the Kava portfolio by enabling seamless swapping between assets of different blockchains and giving users the ability to deploy capital into market-making pools to earn returns.
The next focus is to expand the Kava Platform’s scale, performance and liquidity. Looking forward to the next six months, the roadmap allows Kava to unlock the world’s largest cryptocurrencies and ecosystems through the development of strategic bridges including enabling IBC. In addition, Kava Labs will continue to add financial protocols and services by expanding the Kava Grants program to increase engagement and earning opportunities, strengthen safety and provide a complete institutional-grade product portfolio to the marketplace.
Stay in touch!
- Follow us on Twitter: https://twitter.com/kava_labs
- Join the conversation on Telegram:
- Kava: https://t.me/kavalabs
- Hard: https://t.me/hard_protocol
- Swap: https://t.me/KavaSwap - Checkout our code: https://github.com/kava-labs
- Subscribe to our YouTube: https://www.youtube.com/c/Kavalabs/videos
Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making investment decisions.
