Kava is on track to reach initial goals of $1 billion TVL and deployment of over 100 network protocols. On October 27, Beijing time, Kava's growth engine underwent a large-scale upgrade.
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Kava Rise Developer Incentive Program Pays Off
Kava 10 mainnet upgradeThe activation of the Kava Ethereum Virtual Machine (EVM) laid the foundation for CosmosEVM, supporting all the value of the Ethereum ecosystem to flow into the Kava Network.
Developers and protocols now have all the functionality of an ERC-20 compatible network, plus over $750 million worth ofKava RiseDeveloper rewards, as well as Kava's roadmap to provide more services to users, are the fundamental reasons for Kava's continuous growth.
Although currently very limited in functionality and scope of use, the Kava EVM has grown significantly in just a few months since it was launched. Since the feature was announced in May 2022, the total number of packaged KAVAs has exceeded 320,000. In addition, the Kava Ethereum common chain has processed more than 5.5 million transactions between more than 1.89 million wallet addresses.
This is largely due to the ability to grow developers brought about by the Kava Rise incentive program. At present, more than 40 protocols have been deployed in the Kava ecosystem, and it has climbed to the top 15 on DeFiLama's DeFi TVL ranking. Kava Network has a TVL of more than 250 million US dollars, and the total potential market and available value will grow geometrically in the future.
Of all the protocols that have completed deployments, noteworthy projects include top DeFi protocols such as Curve Finance and Sushi. The TVL of Kava 3pool on Curve Finance exceeded 14 million US dollars in the first few days after the KAVA reward went live, making Curve a leader in the TVL protocol on Kava, second only to Kava Mint and Lend, learn more《Curve Finance has officially launched Kava》
Shortly after Curve integrated Kava, Sushi completed its deployment on the Kava EVM. Now users provide liquidity to the wKAVA/USDC pool to get double rewards of KAVA and SUSHI.
Sushi’s deployment will also launch its most popular dApps — Trident, Furo, BentoBox, and Onsen — in conjunction with the Kava co-chain. Starting with Trident, all Sushi dApps deployed on Kava will be eligible for a distribution of Kava Rise rewards. With these deployments, Sushi is becoming Kava's first DEX, read more《Sushi was successfully deployed to Kava and launched a new UI interface for the first time》
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Announcing the Kava Incentive Program 2.0
The next Kava upgrade will be accompanied by several major updates that will improve the way users earn on Kava. Both mature DeFi users and new users looking for high-yield opportunities will benefit from Kava's ease of use and profitability.
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Kava Liquid
Kava Liquid is the first-ever fully convertible liquid staking protocol dedicated to unlocking all staked KAVA (bKAVA) for use in DeFi protocols on the Kava Network.
All other liquid staking providers like Lido retain the voting power of users, so if 100% of staked ETH is through Lido, all voting power will be controlled by Lido. In contrast, Kava supports users to choose validators and retain your voting rights while staking with Liquid, so even if users pledge 100% of KAVA through Liquid, Kava Network will still remain sufficiently decentralized.
Furthermore, unlike staked ETH, all staked KAVA is always 100% convertible to KAVA tokens at any time, and unlike staked Lido derivatives, all bKAVA in Kava Liquid is always 100% convertible to staked KAVA at any time.
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Kava Earn
Kava Earnis a revenue optimizer for the most commonly used Ethereum tokens and stablecoins in the Kava Network. Kava Earn follows the integration of Multichain and supports users to transfer assets from Ethereum mainnet, BNB chain, Avalanche, Polygon and Cronos across chains to Kava EVM. Starting with USDC, future releases will integrate multiple ERC-20 assets (USDT, WETH, DAI, WBTC, etc.) into the network.
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Kava Boost
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Kava Foundation
Kava Network is forming a foundation to secure future network development. The Kava Foundation will enhance network security, help network infrastructure evolve, and create new avenues for growth and innovation through community-owned liquidity.
The Kava Foundation formalizes the Kava Community Pool, an on-chain pool of funds managed by KAVA delegators. The community fund pool has been established for nearly three years and currently manages approximately $200 million in assets.
As part of the formalization process, KAVA token inflation will go to the Foundation. Unlike other community pools, the use of these funds will be governed by a comprehensive KAVA governance vote by KAVA delegators. This is Kava's contribution to security and decentralization.
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Sign the SDK transaction in Metamask
The last feature upgrade of the Kava 11 mainnet is the ability to directly interact with the Kava App through MetaMask and sign Cosmos SDK transactions, starting with USDC.
Complicated transactions and ERC-20 incompatibility issues will no longer exist. Users will soon be able to interact with MetaMask after transferring their Kava.cosmos account funds from EVM to Cosmos.
This upgrade condenses all three message signings into one event via MetaMask: cross-chain assets to Kava’s CosmosEVM co-chain, supply to Kava Earn (on the Cosmos SDK side), and supply to Mint&Lend, all in one transaction Finish.
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Cancel the lock-up period for new rewards
Based on the above new functions, Kava also canceled the lock-up period for new claim rewards after the launch of the Kava 11 mainnet. These include Curve, Sushi, Kava internal protocols, and other rewards for all tokens!
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The Kava 11 mainnet will launch staking derivatives to retain voting rights and create more income opportunities.
In addition, the development of Kava Earn and the launch of Boost will simplify the earnings of Kava Network. Users can directly sign SDK transactions through MetaMask, optimizing the operation process of pledgers. Finally, removing the reward lockup period unlocks all future claimed rewards.
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About Kava
Kava (kava.io) is a highly secure, lightning-fast Layer-1 blockchain that combines the two most commonly used permissionless execution environments of the Ethereum and Cosmos ecosystems into a single, scalable , Developer optimized network.
