THELOGICALINDIAN - Maker adversary Kava is amalgam BNB as accessory to excellent its built-in stablecoin USDX
Interoperable DeFi assets a added addition today as Kava launches its lending platform.
Built on the Cosmos SDK, Kava can collaborate with all blockchain assets. The aboriginal accurate asset is Binance’s BNB, extending DeFi appearance to Binance Chain users.
Kava’s belvedere operates similarly to Maker and added DeFi lending dApps. Holders of BNB can drop their tokens into the belvedere as collateral, and excellent a accommodation in Kava’s stablecoin, alleged USDX. CEO and architect of Binance, Changpeng Zhao said:
“We are aflame that BNB users can now get admission to DeFi articles with Kava’s lending platform. By accepting BNB as accessory on its lending platform, Kava is creating addition use case for BNB, which brings added amount for BNB users.”
The lending affection will be accessible via accurate wallet and barter applications, including Trust Wallet and Cosmostation.
To bless the launch, Kava is additionally active a advance alleged “Crypto Payday.”
Those minting USDX application their BNB as accessory are entered into a basin and will accept a allotment of 74,000 KAVA tokens (around $85,000 at the accepted price) anniversary week. Rewards will be broadcast every Wednesday at 14:00 UTC for the abutting year, with the aboriginal allocation demography abode on June 24. The absolute award-winning basin is a whopping 3.84 actor KAVA tokens, account over $4 actor at today’s prices.
Until recently, the DeFi ecosystem has been predominantly based on Ethereum. However, this comes with its own issues.
Gas fees on Ethereum can accelerate in times of aerial demand, and the belvedere struggles with scalability.
Other projects such as Ren VM additionally aim to abode the claiming of interoperability, allowance to ensure that DeFi can advance beyond the boundaries of Ethereum.
