What is Binance’s Newly Listed Coin Kava?

Cointral Marketing Manager
What is Binance’s Newly Listed Coin Kava?

Binance Launchpad, the token launch platform created by Binance to introduce new projects to the market, introduced their latest two projects. These two new tokens will be listed by Binance as Kava and Cosmos. Cosmos strives to build a cross-chain decentralized finance, DeFi platform, and offers users a decentralized leverage service for leading cryptocurrencies such as Bitcoin, XRP, Cosmos (ATOM) and BNB. This allows it to offer hedging for cryptocurrencies.

What is Kava?

The Kava team allows anyone who owns Kava to use it as collateral for any asset supported by the Cosmos company. It offers a multilateral CDP, collateralized debt position. Since Binance Chain works on Cosmos, it provides CDP support to Binance’s own assets such as Kava, BTCB and BNB. Kava uses USDX stablecoin to provide users with a hedged position.

Changpeng Zhao, CEO of Binance, said in a statement:

“Kava is the first DeFi project to be supported on Binance Launchpad. Since this area facilitates the borrowing and lending process of users, we look forward to this project. We believe that this project, which does not require dependence on others, has great development potential. BNB, which is used as collateral on Kava’s platform, will have another field of use and will provide additional value for our users. ”

Kava Blockchain allows users to have a say in governance as well as the right to stake Kava and win block rewards. Proof of stake of Kava token is secured by consensus machine.

Binance Launchpad constantly updates the system to provide additional features to the community. Binance, who did not give any rewards to users without winning tickets in previous project launches, implemented an airdrop at this launch.

What is Kava Platform?

The DeFi platform provides decentralized leverage and hedge services to leading crypto currencies such as BTC, Cosmos, BNB and XRP. Working with a smart contracting system, Kava allows its users to access stablecoins supported by algorithms and cryptographic assets.

What is Binance Launchpad?

Binance Launchpad is a special launch platform that enables entrepreneurs to implement their cryptocurrency projects with the participation of Binance users all over the world. Projects decided to be implemented in Binance Launchpad are included in the Binance ecosystem and can benefit from all their support.

What is Binance? Binance is a Blockchain ecosystem aimed at increasing the freedom of cryptocurrencies, the benefits of Blockchain technology. This ecosystem, which includes various institutions, has products developed by the community such as Binance Exchange, Labs, Launchpad, Academy, Research, Charity and Trust Wallet.

Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.