2023-06-22
On June 21, 2023, Tether Operations
Limited (Tether), the company that operate Tether stablecoin announced that it
will launch USDT on Kava, a layer-1 blockchain that design to use for Kava, a
DeFi platform.
Kava was launched in 2018. It currently
has $231 million in total valued locked. Kava provides many DeFi services
include:
-Cryptocurrrency lending such as
BTC, USDC, KAVA, ATOM, USDT, BUSD, BNB. Users need to provide collaterals in
order to get loans.
-Decentralized crypto exchange.
Trading pair such as BUSD, USDX, ATOM, KAVA.
-KAVA liquid staking.
About Kava tokens
KAVA token is governance token. Token
holders can vote for proposals. Kava aims to be a DeFi platform that runs on
multichain. So, the development team designed Kava blockchain to be a layer 1
blockchain that runs on Cosmos. KAVA has a fully diluted market cap of $556
million. It is the 70th largest crypto by market cap.
