This is the building time. We’ve said it over and over here and on all our channels. Some are just trying to hold on and survive, while others are using this time to build. The builders will be the most successful when the bull returns. Kava is one of the builders. And they have a new update.
Let’s see what it’s all about.
Introducing Kava 11
Kava has made lots of great moves in the last year. They now have a fully functioning EVM with their Ethereum Co-chain. AND compatibility with Cosmos ecosystem apps too. This is a rare combination for interoperability.
Kava 11 launched earlier this week with the goal of getting them to their target of $1 billion in TVL in their ecosystem. Here are some of the improvements you can expect.
Kava Rise = Huge Developer Growth
The $750 million developer grant program Kava Rise is doing the job. Since its announcement in late May, developers taking advantage of these incentives and the new EVM have created apps to process more than 5.5 million transactions on the EVM alone in the last 5 months. There are now more than 320,000 Wrapped Kava transactions in the ecosystem, which includes growing TVL and the importance of Curve’s 3Pool and Sushiswap.
These incentives in the Rise program are key to helping Kava grow. We also know that increased developer interest and activity is ALWAYS a leading indicator for a project and price eventually follows.
Kava Liquid is Kava’s new liquid staking protocol. They are the first to combine liquid staking and governance. Kava knows, and so do we, that if you bother with staking, it usually means you are serious about the project. And serious people have their own ideas, some of which can help the project operate better. But we’ve come to accept that if we use Lido or some other liquid staking protocol, we have to give up our vote to get the liquidity we want. Not anymore. Kava says:
- keep your vote
- don’t reassign to someone else’s validator of choice
- continue to have your say in governance matters
- and get liquidity too.
Kava Boost will work with Kava Liquid to get investors higher returns on their staked Kava, known as bKAVA. These rewards and all the new rewards from liquid staking or otherwise will be liquid immediately. No more vesting periods is an improvement in Kava 11 too.
This is a real innovation for liquid staking and one we expect to continue especially with the new Cosmos 2.0 whitepaper and its inclusion of liquid staking modules for all chains that build on Cosmos.
Kava Earn + EVM = More Assets
Kava’s yield optimizer, Kava Earn, will be able to bridge more assets from Ethereum and ERC-20 assets into the EVM Co-Chain. The first one in this new update to integrate will be USDC.
The move towards greater decentralization and community ownership continues with the creation of the new Kava Foundation. Tokens designated for the Community Pool will now go to the Foundation, which has a full, open governance structure so you can help decide how to use those funds.
Metamask Transaction Signing Easier
Without getting too technical, this last big improvement in Kava 11 will make using the platform easier for all Metamask users. The Cosmos SDK, or Software Development Kit, is one of the big reasons why projects choose to build their chains on Cosmos. The SDK is easy to use and understand. And it works. But before now, you had to deal with bridging or compatibility issues to move ERC-20 tokens into and out of Kava.
But now with Kava 11, you will be able to sign transactions directly through Metamask. So bridging to Kava, using a Kava ecosystem app, and even minting or lending tokens can all happen within Metamask and in one transaction. This convenience alone will get more people using Kava than were using it before. Many of you love Metamask so this will be a huge UX improvement for you.
As Kava themselves say,
“Kava has all elements of a top 10 DeFi network, challenging protocols like Avalanche. The developers are already here and bringing users and TVL with them. Are you ready to join #Kavalry?”
We tend to agree that they are building and making all the right moves that a top 10 protocol would have. Have you checked out Kava recently? It’s the best of Ethereum and Cosmos combined and in one place.
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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Kava. Copyright Altcoin Buzz Pte Ltd.