Kava Labs DeFi Lending Platform Goes Live With Collateral Support From Binance Coin (BNB), USDX Stablecoin Loans

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Kava decentralized finance (DeFi) The lending platform went live on June 10, 2020. It includes Binance Coin (BNB) guarantees, USDX loans, and allows network participants to earn rewards.

the Kava labs the team noted:

“With this … launch, Kava [aims to] open the doors of DeFi to the BNB community and soon it [plans to] do the same for the larger crypto space.

The Kava developers have confirmed that they have completed work on the core modules required for the platform’s DeFi lending platform. The team will now focus on adding support for new types of collateral and integrating USDX, Kava’s crypto stablecoin, into new online wallets, digital asset exchanges and various applications.

The latest upgrade from the Kava team includes cross-chain functionality between Kava and Binance Chain. He also implemented Chainlink Oracles on the Cosmos-SDK and the base code for Kava’s lending functionality.

As Explain From the developers of Kava Labs:

“The launch of the lending feature enables the first strike of the USDX stablecoin and includes the full implementation of the incentives in the protocol for USDX hitters…. Kava Growth Fund incentives for BNB holders [aim to] accelerate USDX adoption and early integrations [will] start to take place [in the coming months.]”

As the Kava team noted, all code deployed on the Kava mainnet (mainnet) is subject to internal testing and review, peer testing and analysis, audits. third parties and a review and adoption of governance.

If and when these steps are successfully completed, Kava Network Validators finally upgrade the software, which may include new features.

Kava is a multi-asset DeFi platform that provides stablecoins, loans, and various other financial services to users invested in Bitcoin (BTC), XRP, Binance Coin (BNB), and Cosmos (ATOM).

The developers of the Kava platform created the native KAVA token and the USDX stablecoin. As its developers explain, the KAVA token is “integrated into the security, governance and mechanical functions of the platform.”

Users can guarantee their digital assets in exchange for Kava’s USDX stablecoin.

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