Georgetown, Cayman Islands, July 12, 2023, Chainwire
Kava, a layer 1 blockchain that mixes the event energy of Ethereum with the velocity and interoperability of Cosmos has launched the Kava 14 improve. This improve deploys “inner bridge” expertise to transform clear native Cosmos belongings to and from Ethereum’s ERC20 token normal.
Kava 14 is a part of a gaggle of milestones within the making. In early July, Tether introduced its resolution to make Kava the gateway for issuing native USD on Cosmos. With the launch of Kava 14, USDt can now be minted and simply transformed on Cosmos, to – and from – USDt on all different L1s with native USDt, together with: Bitcoin (Omni & Liquid protocol), Ethereum, TRON networks, and extra.
“Within the first few days after the launch of Kava’s official Tether integration, extra USD was issued on Cosmos than on Polkadot and Close to mixed,” mentioned Scott Stuart, co-founder of Kava. “It’s clear that folks need USDt on the interchain. I’m optimistic that having a local stablecoin and a secure and dependable approach to convert it throughout chains by way of the Kava 14 improve will lastly unlock the wonderful expertise that the Cosmos ecosystem has constructed.
Kava is gaining momentum
Following Tether’s announcement in July, Kucoin now helps Kava’s Cosmos and EVM networks, offering dependable CEX for person transactions throughout the Cosmos ecosystem. In the meantime, Curve Finance’s launch of a USDt liquidity pool provides a decentralized various for energy customers. In parallel, Stargate, a superior omnichain liquidity layer, is anticipated to launch on Kava, anticipating elevated utilization and liquidity. This enlargement follows a governance proposal that plans to broaden the scope of the Kava Rise incentive fund.
The Kava 14 improve is a leap ahead for Cosmos DeFi builders and customers, offering a safer, safer, and extra dependable technique to transform belongings to and from the Cosmos ecosystem.
Comply with @KAVA_CHAIN on Twitter for extra information and updates on the Kava 14 mainnet launch.
About kava
Kava is a safe and super-fast Layer 1 blockchain that mixes the event energy of Ethereum with the velocity and interoperability of Cosmos in a single, scalable community. Dedicated to driving innovation and development, Kava is a trusted alternative for builders and customers in all places.
For extra updates, observe Kava on Twitter.
Disclaimer
This press launch will not be a suggestion to promote or the solicitation of a suggestion to purchase USDt or KAVA tokens.
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