Stake Capital Supports Kava on Mainnet
Stake Capital is excited to announce that we are now validating on Kava’s Mainnet, as of Tuesday, 12th November 2019. Kava enables the cross-chain leveraging of crypto assets with a first-of-its-kind cross-chain CDP mechanism.
While MakerDAO — the leading lending system in the crypto-space — is cloistered inside the Ethereum ecosystem, only able to support ERC-20 tokens (even once multi-collateral Dai is introduced), Kava brings the first dedicated DeFi blockchain, offering collateralized loans and stable coins for the major crypto asset types. Available assets will include Bitcoin (BTC), Ripple (XRP), Binance (BNB), and Cosmos (ATOM).
With a reputation as an industry leader in the DeFi space, Stake Capital is well positioned to help operate the Kava network. As a first mover in the cross-chain DeFi space, Kava aims to bring decentralized lending and stability to a segment of the more than $115 billion combined market cap of BTC and XRP. Loans issued via the Kava platform are provided via a USD-pegged stable coin called USDX.
Like the MKR token in the MakerDAO ecosystem, Kava token holders are granted the right to participate in governance proposals. Governance votes may included changes to the blockchain or system parameters, including a maximum cap on USDX issuance, accepted collateral types, the collateral-to-debt ratio, and the price of stability fees for CDPs on the platform.
However, unlike MakerDAO, the Kava token also functions as a staking asset for maintaining network security. Built on the Cosmos-SDK, Kava token holders delegate their pro-rata voting power to a set of infrastructure operators who in turn validate transactions on the Kava network. We (Stake Capital) will be operating one such validator on the Kava network.
Token holders get paid from the fees collected by transactions and from the stability fees paid by borrowers when CDPs are closed. Validators earn a percentage cut of the rewards generated by their delegators. Validators cast governance proposal votes with weight proportional to the total tokens delegated to them.
Delegation Steps
Currently Kava delegation may only be performed via the CLI. To delegate to our validator via the CLI, first configure kavacli to connect to Stake Capital’s kava node:
kvcli config node 18.197.230.170:26657
Next, make a Kava delegation by executing the following command:
kvcli tx staking delegate kavavaloper1qyc2cfl0nw8r95dsdw534x99wq0xcj9rmxpl7z 1000000000ukava --from <account-name> --gas auto --gas-adjustment 1.5 --gas-prices 0.25ukava --chain-id kava-2
NOTE: You must replace “<account-name>” with the name of your Kava wallet, you can view it via kvcli keys list. Also, the delegation amount is in ukava, which is worth a millionth (1/1,000,000) of a Kava token.
Please reach out to us on Telegram with any questions you have relating to Kava or if you need any support with delegating.
Focus on what you do best and delegate the rest to Stake Capital.
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