Earn APYs as high as 45% on Kava Lend, a decentralized money market platform built on Kava.
Kava Lend is one of the top platforms on the layer 1 blockchain platform Kava Network. Kava Network, on the other hand, is known for combining the best of both Cosmos and Ethereum into a single network. People know it as the one chain, two network platform with unlimited ways to build. The platform provides its users with the speed and scalability of the Cosmos chain. As well as the developer support and security of Ethereum.
This article covers intimate details about the Kava platform, Kava Lend, and how to harness its ATOM surge pool to earn APY as high as 45%.
Before we move on, Let’s find out more about Kava Network
More on Kava Network
Kava Network is an L-1 blockchain platform also known for its lighting fast speed, scalability, and top-notch support. The blockchain platform is a result of a combination of Ethereum and Cosmos chains. Resulting in a network that is fast, scalable, and secure. Kava also provides developers with an enabling environment and next-gen technologies to create top-notch web 3 applications.
Notably, $KAVA is the native token of the Kava ecosystem. It also serves as both governance and staking token, therefore facilitating both security and decentralization for the network.
Kava Network and its native token KAVA have some outstanding features. Some of them include;
- Interoperability – This is made possible because the network is a combination of both Cosmos and Ethereum Chain.
- Co-Chain Architecture – This provides developers with the opportunity to choose between EVM and Cosmos SDK.
- Top-notch scalability, etc
Earn Reward on Kava Lend
Kava Lend is one of the top platforms built on Kava Network. The platform is a decentralized money market designed to facilitate decentralized lending and borrowing. Kava Lend also supports cross-chain assets as well as the supply side of top cryptos like BTC, BNB, BUSD, etc.
Notably, Kava Lend also has its own unique native token known as HARD token. The token serves as a reward for liquidity mining and also has governance functions.
Interested persons can now earn APY as high as 45% on Kava Lend. Thanks to its ATOM surge pool.
Hey #IBCGang 👋
Reminder: You can still earn 45%+ APY with no Impermanent Loss on #Kava Lend.
— Kava Lend (@hard_protocol) March 31, 2022
Interestingly, it takes only a three-step process to earn rewards on Kava Lend during the surge period. The steps are outlined below;
- The first thing to do is to Connect your wallet – Both Keplr and Trust Wallet currently support $ATOM token transfers. This means that you need to have either a Keplr or a Trust wallet and connect it to the Kava Lend platform.
- Next is to Deposit $ATOM tokens via an IBC transfer. You can get $ATOM from top exchanges like Kraken, Binance, and Crypto.com.
- Lastly is to Supply your $ATOM token on Kava Lend to earn $KAVA, $ATOM, and $HARD tokens as rewards. Interestingly, rewards can be as high as 500% APY.
Source: Kava Lend
More on Kava Lend $ATOM Surge Pool
At the time of writing the surge pool has a supply reward APY of 48.48% with a total supply of $30,811,440. ATOM is the native token of the Cosmos ecosystem. It will also be the first token to be listed on Kava Lend.
So users who supply $ATOM during the surge period will receive higher APYs as a reward. APYs are, however, programmed to reduce as supply grows. This means that supplying $ATOM early in the surge pool increases users’ chances of getting higher APY rewards.
KAVA Price Outlook
At the time of writing, KAVA was trading at $4.35 with a market cap of $739,919,638 and a 24-hour trading volume of $73,613,964. The token price is also down by 0.5% in the last 24 hours.
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