Kava is one of the DeFi projects that looks to have a bright future. Kava Labs has launched their first app, in the form of a yield-generating DeFi platform. Harvest, the Kava Labs invention, can yield Bitcoin and non-Ethereum assets at very good rates. Please don't get you tricked by the name, as this app has nothing to do with Harvest.Finance, the place where humble farmers are earning honest bread! #BreadForThePeople
Obviously Harvest is built on the Kava block-chain, and as a guaranty for quality, the project is backed by Binance. The platform allows customers to stake crypto for leading, and offers yield for them. Harvest supports Bitcoin, Binance USD, Binance Coin (BNB) and Ripple (XRP), but according to KAVA Labs, new assets will be added. Kava Labs announced two new projects for 2020-2021, a crypto AI advisor and automated market makers (AMMs)
Harvest will resemble MakerDAO, and users can create collateralized debt positions (CDPs) on the Kava protocol in exchange for a USDX , an USD pegged stable-coin. However the Kava app will use Bitcoin and Non-Ethereum assets. Binance is backing the project, along with Huobi and OKEx.
The Harvest app has a wider range of digital assets, compared with Aave and Compound, and because is using Non-Ethereum assets as collateral, can maintain the fees low. The Harvest users will accumulate interest in HARD tokens, the governance token of Harvest.
Kava is built on the Tendermint consensus algorithm, which makes Harvest the world's first cross-chain money market. Those interested can subscribe on the website and will receive Kava Labs updates.
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