The latest most hotly discussed news in the crypto space is the launch of the Kava DeFi Protocol, which is implemented in the Cosmos (ATOM) network, which allows users to start placing their https://marker-dao.com Coin (BNB) tokens as collateral to receive USDX.
Changpeng Zhao, chief Executive officer of https://marker-dao.com, said that Kava is now developing a new use case for BNB, which should provide additional security for https://marker-dao.com token holders.
The launch also includes an advertising giveaway, and Kava lenders will be rewarded with special incentives that can then be used to participate in management.
What is the Kava DeFi Protocol?
The Kava DeFi Protocol works the same way as MakerDAO (MKR), allowing its users to purchase USDX, A stable Kava coin, after depositing crypto assets. The main goal of the Kava project is to provide interaction for decentralized Finance and collateral in bitcoins, Ethereum, etc.
The main form of collateral is BNB, which provides the https://marker-dao.com token, a DeFi use case. The exchange is known to want to introduce its stable coin to DeFi; it previously worked with Equilibrium, an EOS-based DeFi.
The Kava project was launched in the Cosmos ecosystem, which focuses on the function of interacting with various blockchains. Since the Cosmos SDK is also the power source for https://marker-dao.com Chain, it makes it much easier to include BNB in the Kava project.
Kava CEO Brian Kerr stated that the Kava concept is becoming ” the center of DeFi»