What are Kava platform and KAVA coin? KAVA coin, as one of the important components of the 2021 bull market, has aroused the curiosity of many investors. So what do you need to know?
What is Kava?
Kava is an innovative blockchain platform that combines the best features of Cosmos and Ethereum technologies, allowing people to borrow without banks or other financial institutions.
By using different types of digital currencies, the platform allows users to securely lock their assets and receive loans in return. Kava is one of the DeFi (decentralized finance) projects, aiming to make financial transactions more convenient and flexible by providing alternatives outside the traditional financial system.
On the other hand, Kava’s infrastructure is different from Ethereum, but is based on Tendermint Core technology provided by Cosmos. This technology provides Kava with additional functionality and further enhances the platform. Kava users can lock their cryptocurrencies through special smart contracts on the platform, and obtain Kava’s own digital currency USDX as a loan.
What is Kava coin?
KAVA is the native cryptocurrency of Kava platform. When users use cryptocurrency as collateral to generate USDX, KAVA’s main function is to allocate weekly rewards to users according to the amount of USDX generated by collateral on the platform and the type of collateral used.
For example, miners who use BNB as collateral will receive a share of 74,000 KAVA released by the platform every week.
What is the role of Kava coin?
KAVA is a utility token that provides security, governance and other important functions for KAVA platform.
KAVA has three main use cases: security, governance and incentives. For security purposes, KAVA uses weighted sub-denominator, so that the top 100 nodes verify blocks and earn a portion of network transaction fees.
In governance, KAVA is used to propose and vote on key parameters of Kava network. In terms of incentives, a part of KAVA’s emission is allocated as incentives for network expansion, which are directly distributed to the top 100 projects on both chains.
What is KAVA project?
Kava’s project is to establish a digital banking system that allows cryptocurrency holders to easily obtain loans with their assets.
Kava platform has a fully digitalized credit system, where users can protect their cryptocurrencies and receive digital currencies pegged to the dollar USDX as a reward. This process does not require banks or financial institutions, transactions are automated, and provided by blockchain technology.
Kava leverages Cosmos’s interoperability and Ethereum’s extensive developer ecosystem to provide this unique service. The combination of these two technologies makes Kava a flexible platform that provides fast and reliable transactions, while also supporting various popular cryptocurrency assets, from Bitcoin to Ethereum to Ripple.
The main goal of the project is to provide opportunities for more audiences who want to benefit from the potential of crypto, and to make financial transactions easier to achieve by making them simpler, faster and safer. This approach provides important opportunities, especially for those who cannot fully benefit from banking services or have limited access to them.
What is the highest point KAVA coin has seen?
KAVA coin reached a historical high of $9.19 on September 9, 2021.
What is the lowest point KAVA coin has seen?
KAVA coin’s historical low was recorded on March 13, 2020, at $0.30.
What is the supply of KAVA?
Circulation: The circulation of KAVA coin is 1,082,861,778 KAVA.
Total supply: The total supply of KAVA coin is also 1,082,861,778 KAVA.
Maximum supply: KAVA coin has no maximum supply limit, which means the maximum supply is set to ∞ (infinity).
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