San Francisco, Aug. 31, 2021 — Kava Labs, an open-source and non-custodial developer of financial products and services for decentralized finance, announced the successful launch of its newest project, Kava Swap.
Kava Swap is a cross-chain autonomous market making protocol designed to provide an efficient and safe way to swap natively between the world’s largest assets. The new protocol was built on the Kava platform and will be backed by low fees, high efficiency and the ability to generate strong returns for liquidity providers. Kava Swap will give both retail and institutional users access to more than $600 million worth of on-chain liquidity on the Kava ecosystem to efficiently trade assets, extend earning opportunities and maximize yields. The new product comes as part of the Kava 8 Mainnet upgrade and has successfully completed a security audit with CertiK.
“From our inception four years ago, Kava Labs’ mission has been to build a portfolio of decentralized products and services that allow users to gain access to all of the benefits of DeFi, but without the risks present in the current marketplace,” said Scott Stuart, co-founder and head of products at Kava Labs, adding, “As we expand our ecosystem, Kava continues to deliver on the promise of constructing an open and scalable institutional-grade platform that provides the same level of efficiency, security and ease of use as main street financial products.”
Kava Swap is the third protocol built on the Kava platform and is an open and permissionless application accessible by anyone, anytime, anywhere in the world. It joins Kava Mint, which allows users to take out USDX stablecoin loans using their assets as collateral and Kava Lend, which allows users to earn rewards by supplying and borrowing assets from money markets. All three protocols come complete with interoperable cross-chain tooling, secure price feeds and institutional-grade safety and reliability. In addition, the platform’s upgrade to Kava 8 Mainnet will strengthen token holder participation and governance across all applications on the Kava platform by activating voting on its HARD and SWP tokens. This gives token investors direct access to governance over the Kava platform and the Mint protocol through the Kava token, the Kava Lend protocol through the HARD token and the Kava Swap protocol with the SWP token.
“Kava has been focused on developing the safest way for users to grow their cryptocurrency portfolios,” continued Stuart, adding, “We believe that accessing the wealth creating opportunities inside of DeFi does not need to mean increased exposure to risks. Our guiding product principle is to develop an institutional-grade DeFi ecosystem that unlocks the massive growth opportunities available in the crypto marketplace in a de-risked model that helps to evolve our marketplace into the mainstream.”
For more information please visit: https://www.kava.io.
To Access Kava Swap, please visit: https://app.kava.io.
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Contact:
Martin Allen Frosage
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