Kava Labs’ Freshly Launched PoS Blockchain Will Improve The DeFi Network
Kava Labs announced the launch of Kava blockchain which the company calls the first cross-blockchain DeFi platform enabling traders to leverage and hedge using a multi-collateral CDP system and collateral-backed stablecoin (USDX).
Announcing today the Kava blockchain, the first cross-blockchain DeFi platform enabling traders to leverage and hedge using a multi-collateral CDP system and collateral-backed stablecoin (USDX). Ready for decentralized margin trading in #BTC #XRP #ATOM ?https://t.co/5PABciIdai pic.twitter.com/iMZdNs6fZr
— Kava Labs (@kava_labs) June 21, 2019
Kava Labs, a Cambridge, MA and San Francisco, CA-based company provides Interledger solutions for blockchains, wallets, and exchanges. Their solutions enable users to send and receive near-instant transactions, make cross-currency payments, and access liquidity on-demand.
By applying the company’s expertise in cross-chain settlement, they have developed a new technology set that combines the benefits and interoperable functionality of Cosmos with DeFi applications for today’s traders.
The blog post announcing the news says:
“Users can use any asset supported by Cosmos as collateral in Kava, making it accessible to more assets than any existing DeFi platform. Today, Kava’s primary goal is to bring DeFi to assets that otherwise wouldn’t have access. One of Kava Labs first initiatives is applying our cross-chain expertise to bring XRP to Cosmos and provide DeFi services to it. We will be moving to support other assets shortly thereafter and collaborating with other peg zones.”
Kava’s first products enable users to obtain decentralized leverage and hedging. Kava platform users can gain exposure on their crypto assets through margin trading and hedge using the USDX stablecoin as a stable store of value.
Now that the framework for locking collateral in multiple assets and issuing USDX is built, the company can focus on working with great validators to secure the Kava blockchain and building a community who wants to take ownership and participate in the governance of Kava.
Earlier this year Kava Labs raised $1.2 Million in funding to continue the development of their Interledger solutions for blockchain technology. The investment round was led by Lemniscap and Digital Asset Capital Management, along with other investors including Xpring of Ripple, Coil Technologies, 2020 Ventures, Arrington Capital, Hard Yaka, Robot Ventures, UniValues Associates, and a number of private investors.