Kava will host token sale on Binance Launchpad to build cross-blockchain DeFi platform
Binance Launchpad––Binance’s token launch platform for transformative blockchain projects––has announced support for its 10th project of the year, Kava (https://www.kava.io). Kava’s team is building a cross-chain decentralized finance (DeFi) platform on Cosmos, allowing users to access decentralized leverage and hedging for major cryptocurrencies such as Bitcoin (BTC), XRP, Cosmos (ATOM) and BNB. Kava’s token sale on Binance Launchpad will follow an updated lottery format and a ticket claim period that will begin on October 23, 2019, at 06:00 UTC.
Kava’s team is launching a multi-collateral CDP (collateralized debt position) platform to allow holders to use any asset supported by Cosmos as collateral in Kava. As the BNB Chain is built on Cosmos, Kava is integrating CDP support for BNB Chain assets such as BNB and BTCB. Kava uses the USDX, a stablecoin enabling users to gain exposure on their crypto assets through leverage trading and hedging. USDX also offers users interest when staked.
“Kava is the first DeFi project that we decided to support within Binance Launchpad. We believe that this sphere has a great potential for development as it facilitates the process of borrowing and lending for users and needs no trust for that. Being used as collateral due to Kava’s platform, BNB will get another use case and also bring additional value for our users,” said Binance CEO and Founder, CZ (Changpeng Zhao).
“Kava aims to be the de facto DeFi platform for users of all major cryptocurrencies. While most DeFi applications are limited to specific blockchains, our multi-collateral debt position system will provide open access to necessary DeFi services to all the major cryptocurrencies,” said Kava Co-Founder Brian Kerr. “Kava's debut on Binance Launchpad is very strategic for us as we are excited to make BNB one of the first assets supported by our platform.”
The Kava blockchain is secured by a Proof-of-Stake consensus with a native staking token (known as "KAVA") which gives token holders the ability stake and earn block rewards as well as participate in the governance of the platform.
Binance Launchpad is constantly adjusting its system in order to provide the community with additional features. In previous projects, Binance started to split and airdrop Launchpad projects tokens to all participants who do not have a winning ticket.
Learn more about Kava in Binance Research’s in-depth report: https://info.binance.com/en/research/KAVA-2019-10-16.html
Stay tuned for the latest updates via Twitter at @Binance and Kava’s official Telegram: https://t.me/kavalabs and Twitter: https://twitter.com/kava_labs
About Kava
Kava's DeFi platform offers decentralized leverage and hedging of major cryptocurrencies such as Bitcoin (BTC), XRP, Cosmos (ATOM) and BNB. Using a system of smart contracts, Kava enables users open access to loans and algorithmically managed stablecoins backed by crypto assets. Visit Kava’s website here: https://www.kava.io
About Binance Launchpad
Binance Launchpad is the exclusive token launch platform for entrepreneurs to bring the most transformative crypto projects to life, with the help of Binance users around the world. Projects accepted to launch on Binance Launchpad will have greater access to resources and support from across the Binance ecosystem.
About Binance
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. The Binance ecosystem is comprised of Binance Exchange (the leading global cryptocurrency exchange), Labs (venture capital arm and incubator), Launchpad (token sale platform), Academy (educational portal), Research (market analysis), Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability) and Trust Wallet (Binance’s official multi-coin wallet and dApps browser), as well as BNB Chain, a blockchain software system developed by Binance and the community. For more information, visit: https://www.binance.com
Updated on July 27, 2022