ava is a Layer 1 blockchain that was first launched in 2018 with the primary mission to combine the best features of Ethereum and the Cosmos network. The mix could be lethal enough to wipe out most leading Layer 1 blockchains…
Speed, scalability and security are the ultimate three features that every blockchain should prioritise. Kava accomplishes this by running on a unique network architecture called, Co-Chain. How does it work exactly?
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How does Kava work?
Co-Chain Architecture simply enables developers to build or launch dApps with either the Cosmos Software Development Kit (SDK) or the Ethereum Virtual Machine (EVM). The best part is that dApps are compatible with each other, whether built using Cosmos SDK or the EVM.
To put it into perspective, the network can connect to over 35 different blockchains and over $60B of the Cosmos ecosystem. This is thanks to the IBC protocol (Inter-Blockchain Communication) which links every blockchain within the Cosmos ecosystem.
Kava Products (aka Kava DeFi)
The Kava blockchain is home to its own products which provide the network and the KAVA token with more utilities. We will go into more detail on the token utilities shortly, but for now, here is a quick overview of the Kava products:
Kava Swap
Firstly, we have Kava Swap which is the go-to DEX on the network which of course allows you to swap between compatible assets and you can also participate in Liquidity Pools. The protocol has also implemented liquid staking which entitles you to over 22.36% APY!
Kava Mint
Second up, we have Kava Mint which allows you to borrow USDX (Stablecoin) so you can use your Crypto as collateral! Once you’ve borrowed assets, the platform will allow you to see and manage your positions. You will be able to keep an eye on the liquidation price and track the borrow limit ratio!
Kava Lend
Next, is Kava Lend which is a borrowing & lending platform for cross-chain assets. It works exactly like Aave! Believe it or not, the platform has over $103M in TVL which is amazing, considering the current market climate.
As of yet, only $5.2M has been borrowed. There is a wide range of assets, so I can only presume that more users will eventually join the club!
Kava Earn
Finally, Kava Earn which is possibly one of the most popular dApps is used to increase your yield by either supplying BUSD or KAVA tokens to the platform. All rewards are paid out in KAVA tokens!
Right now, these are the current returns:
BUSD - 18% APY
KAVA - 22.66% APY
If you want to enhance those earnings, you can earn undefined% APY on the Curve 3pool. The link can be found on the Earn platform.
Kava Ecosystem
Currently, there are over 125 dApps within the Kava ecosystem and that includes native, EVM-compatible and IBC-enabled protocols! You will recognise many large ones such as Curve, Osmosis, SushiSwap and many more!
Beefy Finance
Most will recognise this multi-chain Yield Optimiser from many EVM Networks. For those who don’t know, Beefy is a platform that allows users to earn compound interest!
Follow me over to Beefy Finance, here!
CryptoBlades
A Play-to-Earn (P2E) NFT RPG game that is available across 9 different blockchains!
Come and join me for a game of CryptoBlades!
Metapoly
Think of a Metaverse Land Bank where you can deposit NFTs and then use them to borrow other assets! Cool right?
Meet me in the Metapoly Metaverse!
We could go on forever, but if you want to explore the ecosystem, I would recommend going through it yourself.
Kava Network Statistics
With such a powerful network, Kava has achieved so much in its time of existence. So far there are 100 Validators securing the network, over $625M is on the network, 120M Staked KAVA tokens and a whopping $2.5B of bridged asset volume!
The best part, gas fees (aka transactional fees) average at about $0.0001 which blows many other Layer 1 networks out of the water!
KAVA Token
The KAVA token is the driving force behind the entire network. It is used for securing the network, participating in Governance, Incentives for top projects and of course utilising some of Kava’s native products.
How To Buy KAVA
If you’re looking to buy KAVA, it is very easy to obtain. KAVA is available on the most popular centralised exchanges as well as certain blockchains.
We have broken down the two ways of buying the KAVA token:
Option 1- Centralised Exchange
Here are some Centralised Exchanges we recommend for you to buy or trade the KAVA token:
- Binance - The most popular CEX in the world
- ByBit - EARN UP TO $30K in DEPOSIT BONUSES
- BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
- Cryptocom - Official Fifa 2022 World Cup Sponsor
It is always recommended not to store your crypto on a centralised exchange due to the various risks it may hold. That is why we recommend option 2.
Option 2 - DeFi Wallet & Decentralised Exchange
To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):
Those who are buying KAVA through their DeFi wallet, will need to have their wallet set up, which can either be on Metamask or we would recommend using a Keplr wallet as it is native to the Cosmos ecosystem. (Youtube Tutorial Below)
If you haven’t set up Metamask, you can buy KAVA on either Ethereum, the BNB Chain and/or Polygon. Here, you can follow step-by-step tutorials on YouTube:
Remember it is always recommended to use a Defi wallet or better yet a hardware wallet like Trezor to store your cryptocurrencies.
Conclusion
At the time of writing, the KAVA token is priced at $0.62 with a market cap of over $513M. KAVA once reached an ATH of around $9.19 and exceeded a market cap of over $940M. Does KAVA have the power to reach its previous ATH?
It is possible, we will have to see when the next bull run arrives… How exciting!
Official Kava Links
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