Kava is a cross-chain decentralized finance (DeFi) platform that offers collateralized loans and stablecoin services for mainstream digital assets such as BTC, XRP, BNB, ATOM, and more. Today, Kava is supported by over one hundred companies globally, including prominent cryptocurrency funds and blockchain projects like Ripple and Cosmos. The Kava platform supports two types of tokens: KAVA, which is the native governance token used to secure the network and for governance voting; and USDX, a stablecoin issued against digital asset collateral.
Kava is a decentralized Layer 1 hub designed to support cross-chain DeFi applications and services, providing an accessible and perpetual financial infrastructure for products and developers. The Kava CDP lending platform and the cross-chain money market HARD Protocol, both built on the Kava blockchain, form a decentralized bank for digital assets, connecting users with stablecoins, loans, interest-bearing accounts, and more, enabling them to unlock additional use cases and value from their digital assets.
Project Overview
Kava is a Layer 1 DeFi hub that enables developers to quickly create new cross-chain DeFi applications utilizing Kavas security, cross-chain bridges, and Chainlink oracles, deploying these applications to Kava’s global user base.
Built on the Cosmos SDK and operating with a Tendermint-based Proof-of-Stake (PoS) consensus mechanism, Kava has developed two applications at the application layer: the CDP lending platform and the cross-chain money market HARD Protocol. These applications provide stablecoins, loans, and interest-bearing accounts, allowing users to leverage their digital assets for increased utility and value.
The Kava ecosystem includes three tokens: KAVA, USDX, and HARD. KAVA is the native token of the Kava blockchain, essential for network security, governance, and operational functions. Users can collateralize their crypto assets to obtain the stablecoin USDX. HARD is the governance token for HARD Protocol, incentivizing early participants to contribute to the ongoing development and management of the product.