Kava Labs Development Update: April 2021

Update: Kava Labs launched a rebranded product portfolio in late August 2021, and the following archived article contains outdated information. Application rebrands on the Kava Platform are as follows: Kava CDP is now Kava Mint; Hard is now Kava Lend; Swap is now Kava Swap. To learn more about the rebrand, please read the announcement.

The successful launch of Kava 5 & Hard V2 on April 8th, 2021 introduced some exciting new changes for users. In this article, we will discuss the changes that are currently available (at the time of publication) and which ones will be implemented in the near future.

Updates Currently Live:

• Kava and Hard web apps are now merged into a single application. Users can interact with both protocols without needing to reconnect.
• Users can borrow BUSD on Hard Protocol.
• The BUSD borrow limit has been increased twice, adjusting to demand from users. It is currently at 5 million BUSD.
• KAVA Rewards are now distributed per block and must be claimed by the user. Users no longer need to wait for the weekly “pay day.” This mirrors how HARD rewards are distributed and claimed.
• There is a Kava-dedicated WalletConnect Bridge for improved connection consistency for Trust Wallet users.
• Interchain swap timeouts have increased from ~2 hours to 48 hours to prevent the risk of double spending.
• Hot wallet limits for interchain transfers have increased:
  — 40,000 BNB
  — 150 BTCB
  — 3,000,000 BUSD
  — 8,000,000 XRPB
• Max Swap Sizes have increased:
  — 5,000 BNB
  — 20 BTC
  — 1,000,000 BUSD
  — 2,500,000 XRP
• System limit for BTCB has doubled from 1000 BTCB to 2000 BTCB.

Updates Coming Soon:

• All assets will be eventually be available to borrow on Hard Protocol with autonomous interest rates.. This will occur incrementally, enabling borrowing for one additional asset at a time to be sure the system is functioning as intended.
• An active price feed for USDX will be implemented when USDX becomes enabled as collateral for borrowing on Hard Protocol.
• KAVA rewards will be incrementally moved from solely minting USDX on Kava to supplying USDX to Hard. This should improve USDX price stability around $1. Read more here.
• Rewards for staking KAVA to validators will be increased to achieve a 67% bonded rate. This will increase network security. Read more here.
• Check out our roadmap to see what else we are planning for the future!

Stay in touch!

• Follow us on Twitter: https://twitter.com/kava_labs
• Join the conversation on Telegram: https://t.me/kavalabs
• Checkout our code: https://github.com/kava-labs

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.