Kava – KAVA
Kava, merging the best of both worlds – Ethereum & Cosmos.
It’s only right that we take a deep dive…
This is a Project Review on KAVA.
Kava is a Layer 1 blockchain that was first launched in 2018 with the primary mission to combine the best features of Ethereum and the Cosmos network. The mix could be lethal enough to wipe out most leading Layer 1 blockchains…
Speed, scalability and security are the ultimate three features that every blockchain should prioritise. Kava accomplishes this by running on a unique network architecture called, Co-Chain. How does it work exactly?
Co-Chain Architecture simply enables developers to build or launch dApps with either the Cosmos Software Development Kit (SDK) or the Ethereum Virtual Machine (EVM). The best part is that dApps are compatible with each other, whether built using Cosmos SDK or the EVM.
To put it into perspective, the network can connect to over 35 different blockchains and over $60B of the Cosmos ecosystem. This is thanks to the IBC protocol (Inter-Blockchain Communication) which links every blockchain within the Cosmos ecosystem.
The Kava blockchain is home to its own products which provide the network and the $KAVA token with more utilities. We will go into more detail on the token utilities shortly, but for now, here is a quick overview of the Kava products:
Firstly, we have Kava Swap which is the go-to DEX on the network which of course allows you to swap between compatible assets and you can also participate in Liquidity Pools. The protocol has also implemented liquid staking which entitles you to over 22.36% APY!
Second up, we have Kava Mint which allows you to borrow $USDX (Stablecoin) so you can use your Crypto as collateral! Once you’ve borrowed assets, the platform will allow you to see and manage your positions. You will be able to keep an eye on the liquidation price and track the borrow limit ratio!
Next, is Kava Lend which is a borrowing & lending platform for cross-chain assets. It works exactly like Aave! Believe it or not, the platform has over $103M in TVL which is amazing, considering the current market climate.
As of yet, only $5.2M has been borrowed. There is a wide range of assets, so I can only presume that more users will eventually join the club!
Finally, Kava Earn which is possibly one of the most popular dApps is used to increase your yield by either supplying $BUSD or $KAVA tokens to the platform. All rewards are paid out in $KAVA tokens!
Right now, these are the current returns:
BUSD – 18% APY
KAVA – 22.66% APY
If you want to enhance those earnings, you can earn undefined% APY on the Curve 3pool. The link can be found on the Earn platform.
Currently, there are over 125 dApps within the ecosystem and that includes native, EVM-compatible and IBC-enabled protocols! You will recognise many large ones such as Curve, Osmosis, SushiSwap and many more!
Most will recognise this multi-chain Yield Optimiser from many EVM Networks. For those who don’t know, Beefy is a platform that allows users to earn compound interest! – beefy.com
A Play-to-Earn (P2E) NFT RPG game that is available across 9 different blockchains! – https://www.cryptoblades.io/
Think of a Metaverse Land Bank where you can deposit NFTs and then use them to borrow other assets! Cool right? https://www.metapoly.org/
We could go on forever, but if you want to explore the ecosystem, here is the link!
Ecosystem Link – https://www.kava.io/ecosystem
With such a powerful network, Kava has achieved so much in its time of existence. So far there are 100 Validators securing the network, over $625M is on the network, 120M Staked $KAVA tokens and a whopping $2.5B of bridged asset volume!
The best part, gas fees (aka transactional fees) average at about $0.0001 which blows many other Layer 1 networks out of the water!
The $KAVA token is the driving force behind the entire network. It is used for securing the network, participating in Governance, Incentives for top projects and of course utilising some of Kava’s native products.
If you’re looking to buy $KAVA, it is very easy to obtain. $KAVA is available on the most popular centralised exchanges as well as certain blockchains.
We have broken down the two ways of buying the $KAVA token:
Here are some Centralised Exchanges we recommend for you to buy or trade the $KAVA token:
It is always recommended not to store your crypto on a centralised exchange due to the various risks it may hold. That is why we recommend option 2.
To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):
If you are buying $KAVA through your DeFi wallet, you will need to have your wallet set up, which can either be on Metamask or we would recommend using a Keplr wallet as it is native to the Cosmos ecosystem. (Youtube Tutorial Below)
If you haven’t set up Metamask, you can buy $KAVA on either Ethereum, the BNB Chain and/or Polygon. Here, you can follow step-by-step tutorials on YouTube:
Remember it is always recommended to use a Defi wallet or better yet a hardware wallet like Trezor to store your cryptocurrencies.
At the time of writing, the $KAVA token is priced at $0.79 with a market cap of over $453M. $KAVA once reached an ATH of around $9.19 and exceeded a market cap of over $940M. Does $KAVA have the power to reach its previous ATH?
It is possible, we will have to see when the next bull run arrives… How exciting!
Twitter – @KAVA_CHAIN
Website – https://www.kava.io/
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