The world of DeFi lending is getting more popular by the day. Many blockchain enthusiast see this advancement as a way to bring decentralization to the masses. Banks have long been the masters in the game of personal finance. With DeFi lending such as KAVA, this might soon all change. What is KAVA DeFi and how to Buy KAVA?
What is KAVA DeFi?
Kava is a decentralized lending platform that seeks to break free from traditional finance. They offer a range of assets to exchange from, and lending & borrowing services. They also have two upcoming projects:
What is KAVA Crypto?
KAVA crypto is native on the Blockchain of the KAVA platform. It is used as a governance token within the whole ecosystem. In turn, users can vote on important projects using this token. Their voting power depends on how many KAVA tokens they have. In addition, KAVA tokens have 3 main functionalities:
- Security: Users stake their KAVA in order to maintain the network’s security. Only the top 100 nodes in the network validate blocks in the network. An algorithm determines those top Tokens and checks the staked KAVA tokens’ weight against the total.
- Staking Asset: Aside from security, stakers can also stake their holdings utilizing bonding curves of network validators.
- Resort Lender: KAVA functions as a last resort currency. If USDX (which is a KAVA stablecoin on the platform) is over-collateralized, the network will generate new KAVA to use in the purchase of USDX. This makes sure that the USDX coin remains a stablecoin.
Is KAVA crypto a GOOD INVESTMENT?
Looking at how the project is taking off, KAVA crypto can potentially be a very good investment. Currently, the project is on its original timeline, and they’re pushing two new services (AMM and Robo Advisor). To date, they have smashing stats that compete with the best traditional financial institutions:
- 250+ Million moves through APIs
- 100+ Million loans processed
- 250+ Thousand users
- 30+ Direct Integrations
Seeing the way this project is developing and growing, it should definitely be on any crypto investor’s radar.
Will KAVA crypto go up?
It is hard to say if any investment will go up. In fact, everything depends on the project’s sustainability. But so far, everything is going smoothly and on par with the other DeFi Lending platforms. With a total locked value of more than USD 217.4 million, there’s is definitely room for further growth.
KAVA crypto is currently priced at USD 6.26 with a market cap of USD 366 million. If KAVA steps up its game and introduces its upcoming features, an estimated market cap of USD 1 Billion is not far-fetched. Its competition such as AAVE and UNISWAP are well over this valuation. KAVA crypto will, in turn, go up to a price of USD 17.
Where to BUY KAVA crypto?
There are many exchanges where you can buy KAVA coins, the most famous and solid exchanges would definitely be Binance and Kraken. In fact, you can always send away your coins to another private wallet, but to buy, you’ll need to do that from an exchange first, or offline from a friend. NEVER send someone money expecting them to send you some KAVA in return, not even that desperate prince from Africa!
How does KAVA Work?
For now, KAVA offers two kinds of products:
- KAVA protocol: which is a lending platform for KAVA crypto
- Hard protocol: a cross-chain market that allows users to earn from other assets than KAVA.
As a platform, is pretty simple to use. The only drawback we noticed was the lack of wallet connections. You can only connect a wallet via Trust Wallet or a Ledger.
How to connect Trust Wallet to KAVA
And that’s it! Also, now you can borrow USDX (KAVA’s stable coin), lend and do other activities on the platform!
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Rudy Fares
