What is Kava Lend? Kava Lend is a lending marketplace built on the Kava platform that offers decentralized financial products. In this article, you can find answers to frequently asked questions such as what Kava Lend is, what it offers, what is HARD, what is it for, how to get it. As Kriptokoin.com, we have compiled it for our curious readers. Let’s examine the project together.
What is Kava Lend?
Kava Lend is a decentralized finance (DeFi) marketplace where users can borrow and borrow various crypto assets. The project is built on the Kava platform, which includes various DeFi products and protocols. Additionally, borrowing products within Kava Lend are cross-chain. Users gain access to a variety of products such as cross-chain asset transfer and loan transactions through Kava Lend. Accordingly, users; It can lend different types of crypto assets such as BTC, XRP, BNB, BUSD and USDX. Users who lend their assets as loans can thus earn interest income. In addition, Kava Lend makes over-collateralized borrowing available to users. The project also has a native cryptocurrency. This cryptocurrency is the HARD token that ensures the sustainability of the network.
What is HARD? What does it do?
HARD token is Kava Lend’s native cryptocurrency. There are versions of the token created on the Ethereum and Polygon networks. HARD is critical to the operation of Kava Lend. This is because the token is used for governance purposes. Accordingly, HARD holders can participate in the management of the platform through their assets, and in this way, they can obtain various rewards. Governance includes presenting and voting on proposals. In this respect, the users holding the token are like the shareholders of the project.
Another use case of HARD is staking. Staking means locking assets into a smart contract within the platform. In this way, users verify the transactions carried out on the network and in return, they earn HARD token rewards at maturity. In addition, Kava Lend rewards users who mine liquidity on the platform with HARD. Accordingly, users who deposit Kava Lend-supported assets on the platform will receive HARD tokens.
How to get HARD?
Investors interested in DeFi project Kava Lend are looking for ways to purchase HARD tokens. To buy HARD, first of all, there must be a crypto exchange where the token is listed and you must be a member of this exchange. HARD is currently listed by Binance, MEXC, KuCoin, Gate.io and Pionex exchanges. For purchasing, you must be a full member of one of these exchanges and verify their identity. After that, you can buy HARD tokens by depositing an asset suitable for HARD parities in your wallet and placing a buy order.
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