Everstake reports interesting key insights and updates on several projects and organisations involved with its platform on Cosmos Interchain and part of the key project is #KAVA achieving notable gowths and achievements.
Let's take a look at the report of Cosmos first half of 2024 with our primary focus on #KavaChain .
Kava stands as one of the top DeFi projects with a software protocol that utilizes several cryptocurrencies to give access to users to lend and borrow assets.
Growth Statistics:
To understand more about Kava's growth, I will highlight in summary the stats :
1. Increase in the amount of Stake $KAVA from $127million to $136million
2. Delegators rose from 65k to 69k in number
USDt and WBTC
Kava Ecosystem saw more developments with the issuance of two natives $WBTC and $USDt on its platform making Kava the third chain along with #Ethereum and #TRONâ .
This was integrated in the first quarter of 2024 after Kava partnered with BitGo Trust Company to issue $WBTC and continuous provision of liquidity for the world's largest cryptocurrency exchanges including #Binance and #BitGo.
To demonstrate full security and insurance of users funds, all WBTC issued on Kava are natively backed by BitGo with $250million Insurance funds.
Kava Delegators
There are 19 Validators in Kava with more than 1,000 delegators and there is an even distribution of delegators among validators. Validators are ranked between 1 and 45 by voting power, indicating a high level of decentralization among the 100 active staking providers.
Kava 16 Upgrade
Kava Lend, the main platform of the KAVA network, has big plans for 2024. They aim to improve compatibility with Ethereum, launch cross-chain lending within the Cosmos ecosystem, and offer new yield opportunities with wBTC and Real-World Assets (RWA). Recent upgrades have set the stage for these developments.
1. Enhanced EVM compatibility
2. Interoperability
3. DeFi Tooling
KAVASCAN
This is the native Explorer of Kava Ecosystem backed by Cosmostation. Kavascan is a tool for exploring the Kava Chain, a blockchain that uses Ethereum's technology and Cosmos-SDK. Since most of Kava's activities happen on its Ethereum-like layer, where over 100 apps are running, Kavascan provides important features to help users explore this ecosystem.
Core Features of KavaScan:
1. NFT support
2. Smart contract Internal Transaction
3. Future Block Predictions
4. Contract Information
Find more information and support on #kavaHub with #SocialMining
Source links:
https://everstake.one/crypto-reports/cosmos-report-h1-2024-major-updates-interchain-growth-and-innovations
