Kava.io
KAVA/VND
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Information about Kava.io (KAVA)
Kava is a cross-chain DeFi system that provides traditional financial services that are completely decentralized, secure, and transparent. Kava operates using smart contracts and not through any intermediaries. Many companies have integrated with Kava’s Decentralized Finance platform to allow users to invest, lend, and earn with cryptocurrencies.
Kava is built on top of Cosmos and works with a PoS consensus mechanism, Kava uses a CDP (Collateralized Debt Position) system to ensure stablecoin loans are always fully collateralized. If the borrower fails to maintain their collateral above the required threshold, the Kava liquidation module will seize the collateral from the failed CDPs and send it to the auction module for sale.
Kava is a token of the Kava Network ecosystem, designed with the main functions including Onchain Governance and Network Security, and is used for the following purposes:
- Used as transaction fee.
- Used to administer the mortgage debt system.
- Used as block rewards for Delegators, Validators.
News
KAVA is currently exhibiting a modest daily gain of 0.10%, trading within the range of 0.392 to 0.415. This indicates a balance of buy and sell pressure. Bullish indicators, such as a positive Balance of Power at 0.20, suggest strong buying activity.
A breakout above the resistance level of 0.415 could potentially lead KAVA to increase to 0.44. Conversely, if the price falls below 0.39, KAVA may decline further to 0.38, reflecting investor sentiment’s influence on trading trends.
Despite a market downturn, KAVA has emerged as a strong performer, gaining 21% over the past month and breaking through to a 30-day high. Its current trading trend shows it operating within an ascending parallel channel.
The bullish sentiment suggests that if buying strength persists, KAVA may breach resistance levels, potentially reaching 0.74 USD. However, should momentum decline, it could retrace back to 0.48 USD.
Stargate deploys to Kava Chain unifying Cosmos-Ethereum liquidity
Stargate, the leading omnichain liquidity layer, has now deployed on Kava Chain, the Cosmos-Ethereum interoperable Layer 1.
This integration will expand the reach of Tether’s Cosmos-native USDt issued exclusively on the Kava Chain, to the Ethereum ecosystem and beyond.
Kava (KAVA) set to receive new mainnet upgrade
Kava, a Layer 1 blockchain with unique co-chain architecture, is set to receive a new mainnet upgrade, Kava 14, on July 12, 2023.
The upgrade would enable asset conversion between the Cosmos and Ethereum ecosystems via the new internal bridge feature.
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