By Tyler S - Wallet Specialist - 03-11-2021
The decentralised money market platform, Kava, has grown exponentially since its release to the public back in 2018. The platform started as a small application built using blockchain technology, and now Kava has upgraded to a large ecosystem with a large variety of native assets. Despite seeing major growth in recent years, the Decentralised Finance (DeFi) initiative is already on its way to further expanding its network.
Kava is a DeFi platform with a layer-1 network. Kava is highly secure as the platform has integrated institutional-grade security. With a goal to become mainstream, Kava looks to build its platform up to become streamlined with preparations to expand further and worldwide. Kava houses a few native cryptocurrencies such as KAVA, HARD, and USDX. Within the Kava Lend (HARD) protocol, the lending and borrowing ecosystem allows tokens to be used for specific purposes for platform users. Users can buy Kava Lend HARD at popular crypto exchange platforms including BC Bitcoin. HARD can be obtained through the platform's reward program to contribute toward governance and validation. KAVA is mainly used as an incentive for borrowers, and USDX is used to borrow against the user's locked crypto assets.
Kava aims to provide platform users with an experience that's safe and smooth running. The network plans to help users who want to capitalise on their passive income through their crypto market investments. Kava initially started as Kava Mint, a blockchain with just one protocol that helps users apply for Collateralised Debt Positions (CDPs). Once Kava Mint gained some traction, the platform added Kava Lend, allowing users to lend and borrow, then Kava Swap, allowing users to access decentralised trading and mining.