Kava 14 Speeds Up Expansion of the Cosmos Ecosystem

Kava 14 Speeds Up Expansion of the Cosmos Ecosystem
фото показано с : zycrypto.com

2023-7-13 23:45

The Kava 14 upgrade has been released by Kava, a Layer-1 blockchain that combines the developer capability of Ethereum with the speed and interoperability of Cosmos. ‘Internal bridge’ technology is used in this version to quickly convert native Cosmos assets to and from Ethereum’s ERC20 token standard.

One of several impending milestones is Kava 14. Tether announced its choice to use Kava as the entry point for issuing native USDt on Cosmos at the beginning of July. Since Kava 14 has been released, USDt may now be created on Cosmos and quickly converted to and from USDt on any other L1 that supports native USDt, such as the Bitcoin (Omni & Liquid protocol), Ethereum, TRON, and other networks.

“Within the first few days of Kava launching the official Tether integration, more USDt has been issued on Cosmos than on Polkadot and Near combined,” said Scott Stuart, Kava Co-Founder. “It’s clear that people want USDt on the interchain. I’m optimistic that having a native stablecoin and a safe, reliable way to convert it across chains via the Kava 14 upgrade will finally unlock the incredible tech the Cosmos ecosystem has built.”

Kava Momentum

Kucoin now supports Kava’s Cosmos and EVM networks, offering a trustworthy CEX for user transactions within the Cosmos ecosystem in response to Tether’s announcement from July. For experienced users, Curve Finance’s creation of a USDt liquidity pool provides a decentralized option. Stargate, the top omnichain liquidity layer, is preparing to launch on Kava concurrently in anticipation of rising usage and liquidity. This growth follows a governance proposal to broaden the Kava Rise incentive fund’s purview.

For Cosmos DeFi architects and users, the Kava 14 upgrade represents a significant step forward since it offers a way for transferring assets into and out of the Cosmos ecosystem that is safer, more secure, and more dependable.

For additional details and updates on the mainnet launch of Kava 14, follow @KAVA_CHAIN on Twitter.

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Источник: zycrypto.com

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