Bear market construction time. Some just try to hold on and survive, while others use this time to build. According to experts, builders will be the most successful when the bull market returns. The bear market star altcoin project Kava is one of these builders. And they have a new update. Crypto expert Stu L evaluates the altcoin project.
Altcoin project unveils Kava 11
As you follow on Kriptokoin.com, Kava made many successful moves last year. They now have a fully functioning EVM with the Ethereum Co-chain. And they are compatible with Cosmos ecosystem apps as well. This is a rare combination for interoperability. The developers released Kava 11 earlier this week. With this move, they aim to achieve their goal of $1 billion in TVL in their ecosystem. Here are some of the improvements you can expect.
Kava Rise = Huge developer growth
Kava Rise, the $750 million developer grant program, does the job. Since its announcement in late May, developers taking advantage of these incentives and the new EVM have built apps to handle more than 5.5 million transactions in EVM alone in the last 5 months. There are now more than 320,000 Wrapped Kava transactions in the ecosystem, including the importance of TVL and Curve’s 3Pool and Sushiswap growing.
These incentives in the Rise program are key to helping Kava grow. Increased developer interest and activity is always a leading indicator for a project. Also, we know that in the end price followed suit.
Kava Liquid
Kava Liquid is Kava’s new liquid staking protocol. They were the first to combine liquid staking and governance. Kava knows, and so do we. If you’re into staking, it usually means you’re serious about the project. And serious people have their own ideas, some of which will help the project work better. However, if you use Lido or any other liquid staking protocol, we have to give up your game to get the liquidity you want. However, not anymore. Kava says:
- Protect your game.
- Do not reassign to a validator chosen by someone else.
- Continue to have a say in governance issues.
- And get liquidity too.
Kava Boost will work with Kava Liquid to earn investors a higher return on their stake, known as bKAVA. These rewards and any new rewards from liquid staking or otherwise will be liquid instantly. The lack of more qualifying time in Kava 11 is also an improvement.
This is a real innovation for liquid staking. It’s an innovation we hope to continue, especially with the new Cosmos 2.0 whitepaper and the inclusion of liquid staking modules for all Blockchains built on Cosmos.
Kava Earn + EVM = more assets
Kava’s yield optimizer Kava Earn will connect more assets than Ethereum and ERC-20 assets to the EVM Co-Chain. The first update to be integrated in this new update will be USDC.
Kava Foundation
The movement towards greater decentralization and community ownership continues with the creation of the new Kava Foundation. Tokens designated for the Community Pool will go to the Foundation, which has a full, open governance structure so you can help decide how these funds will be used.
Easier to sign metamask transactions
This latest major improvement in Kava 11 will make the platform easier to use for all Metamask users. The Cosmos SDK, or Software Development Kit, is one of the biggest reasons why projects choose to build their Blockchain on Cosmos. The SDK is easy to use and understand. And it’s working. Before that, however, you had to deal with bridging or compatibility issues to move ERC-20 tokens in and out of Kava.
But now with Kava 11 it is possible to sign transactions directly from Metamask. Therefore, there is the possibility of creating a bridge to Kava using a Kava ecosystem application. In fact, token issuance or lending can all take place within Metamask and in a single transaction. This convenience alone will allow more people to use Kava than before. Many of you love Metamask. So this will be a huge UX improvement for you.
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