Kava is a DeFi lending platform where users can borrow and lend cryptocurrencies without the need for third parties like financial institutions. Kava applies advanced technology and is a trendy decentralized project in the DeFi sector.
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Read on to learn everything you need to know about the Kava platform and the KAVA coin.
KAVA Price and Market Cap
With a live market cap of $450,241,141 USD, CoinMarketCap now ranks KAVA #121. There are 153,999,085 KAVA coins in circulation, and the maximum supply is unknown. Kava's all-time high was $12.65. Kava is currently trading on major cryptocurrency exchanges, including Binance (the most active platform), Huobi Global, Upbit, OKEx, and it's being added to more exchanges.
The KAVA price reached an all-time high (ATH) of $12.65 on January 11th, 2018. In the following year, the KAVA price is forecasted to rise from $5.243238 to $8.475 due to the increasing demand for cryptocurrencies. Kava is an excellent project with a lot of potential and 61.64 percent long-term profitability. So, if you're looking for a great investment opportunity, Kava is worth considering.
About KAVA
Kava is a decentralized platform that offers cross-chain lending and borrowing services without the involvement of financial institutions. Kava's first use case is as a cross-chain bridge between Ethereum and Bitcoin, allowing users to borrow and lend ETH and BTC without having to trust centralized exchanges.
Kava is built on Cosmos as an underlying platform that relies on customization and interoperability and adds more functionality to the Kava protocol. The project has a two-token system with Kava and Kava-denominated USD (USDX) stablecoin. Kava is used for staking in the Kava Delegated Proof-of-Stake (DPoS) consensus model and as collateral for USDX. Kava holders can stake their tokens to become block validators and earn block rewards, or they can delegate their tokens to others in return for a share of the rewards. Users can mint the USDX stablecoin, so whenever a user deposits supported crypto as collateral, USDX is created, and other users can take loans in the form of USDX. Users who deposit their cryptocurrency are rewarded with KAVA crypto every.
Kava uses the Zerocoin protocol to provide anonymity for its users and Confidential Transactions to hide participants' balances and transaction amounts. To improve scalability, Kava also plans to use sharding, the most feasible approach for horizontally scaling blockchain systems.
KAVA tokens are the native staking tokens of the Kava blockchain and are used for governance, security, and staking purposes. KAVA is different from other digital currencies because it's not mined. KAVA is a Delegated Proof of Stake (DPoS) coin that uses a KAVA-specific cryptocurrency called KavaCoin. Kava will also offer a stablecoin (KSD) that is pegged to the US dollar.
Following several private sales and a Binance Launchpad initial exchange offering (IEO), KAVA debuted on the market in 2019. In total, 60% of KAVA tokens were sold in the private sale, with 6.52 percent of the total supply selling on Binance Launchpad for around $3 million. The remaining KAVA token supply, or 75 percent, was divided among the firm's shareholders, with 25% going to Kava Labs shareholders and the remainder (28.48%) set aside in the Kava Treasury - which will be used to grow the Kava ecosystem.
The coin is currently ranked in the top 30 digital currencies by market cap and is currently live on the main net with over US$250MM in value locked in its DeFi protocols.
Token Utility
The KAVA token has several use cases on the Kava platform and can be:
- Staked to become a validator and earn block rewards.
- Delegated to other users in return for a share of the rewards.
- Used for voting on Kava's governance proposals.
- Used as collateral for Kava's lending and borrowing.
History
Kava was founded in 2018 by Ruaridh O'Donnell and Scott Stuart, who are shareholders and founders of Kava Labs, the parent organization behind Kava. Kava's team members also include former Ripple executives Brian Kerr (President) and Ethan Kropp (CTO).
Kava is headquartered in San Francisco, California. Kava Labs has raised a total of $32M in funding over two rounds, of which the latest was $25M raised in January 2019, from a Series A round. Kava is backed by some of the most well-known names in the cryptocurrency space, including Pantera Capital, Draper Associates, and FBG Capital.
Kava's partnerships include:
- Binance - one of the world's largest cryptocurrency exchanges in trading volume
- Kusama - Polkadot's experimental network
- Cosmos - SDK for building cross-chain applications.
Kava's strategy implies forming partnerships with major cryptocurrency projects and expanding its lending and borrowing services to their communities. Kava has already formed partnerships with Binance, Cosmos, and Kusama and continues expanding its services to more users.
KAVA's Roadmap
The Kava team has released their 2019 roadmap, which outlines their plans for the year. Some of Kava's key goals include:
- Expanding to new markets, such as China and Japan
- Growing Kava's user base to over 100,000 users
- Launching Kava's stablecoin (KSD)
- Integrating with more cryptocurrencies
- Developing new lending and borrowing products.
KAVA: Latest News
Kava's latest news includes launching Kava Network 1.0. Kava released its Ethereum Co-Chain alpha version on March 8th, adding EVM developer support to the network, allowing developers and DApps from the Ethereum ecosystem to build and deploy on Cosmos. The Kava Network's objective is to combine the Ethereum and Cosmos ecosystems in a single Layer-1 blockchain to provide blockchain developers with a seamless and lucrative experience. To drive expanded usage of the new Ethereum Co-Chain and achieve its 2022 goal of being the top Layer-1 blockchain, Kava intends to introduce an innovative incentive scheme.
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