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July 12, 2023 – Georgetown, Cayman Islands
Kava, a layer one blockchain that mixes the developer energy of Ethereum with the velocity and interoperability of Cosmos, has launched the Kava 14 improve. This improve deploys ‘inside bridge’ know-how to seamlessly convert native Cosmos belongings to and from Ethereum’s ERC20 token customary.
Kava 14 is one in every of a cluster of milestones within the making. In early July 2023, Tether introduced its choice to make Kava the gateway for issuing native USDt on Cosmos.
With the launch of Kava 14, USDt can now be minted and simply transformed on Cosmos to and from USDt on each different layer one with native USDt together with the Bitcoin (omni and liquid protocol), Ethereum, TRON networks and extra.
Scott Stuart, co-founder of Kava, mentioned,
“Inside the first few days of Kava launching the official Tether integration, extra USDt has been issued on Cosmos than on Polkadot and Close to mixed. It’s clear that individuals need USDt on the interchain. I’m optimistic that having a local stablecoin and a secure, dependable technique to convert it throughout chains by way of the Kava 14 improve will lastly unlock the unimaginable tech the Cosmos ecosystem has constructed.”
Kava good points momentum
Following Tether’s July announcement, Kucoin now helps Kava’s Cosmos and EVM networks, offering a dependable CEX for consumer transactions throughout the Cosmos ecosystem.
In the meantime, Curve Finance’s launch of a USDt liquidity pool presents a decentralized different for skilled customers.
In parallel, Stargate a prime omnichain liquidity layer is about to launch on Kava, anticipating elevated utilization and liquidity.
This enlargement comes after a governance proposal that plans to widen the scope of the Kava Rise incentive fund.
The Kava 14 improve is a leap ahead for Cosmos DeFi builders and customers, offering a safer, safer and extra dependable technique for changing belongings to and from the Cosmos ecosystem.
Observe Kava on Twitter for extra info and updates on Kava 14’s mainnet launch.
About Kava
Kava is a safe, lightning-fast layer one blockchain that mixes the developer energy of Ethereum with the velocity and interoperability of Cosmos in a single, scalable community.
Dedicated to fostering innovation and progress, Kava is a trusted alternative for builders and customers worldwide.
For extra updates, observe Kava on Twitter.
Disclaimer
This press launch isn’t a suggestion to promote or the solicitation of a suggestion to purchase USDt or KAVA tokens.
Contact
Guillermo Carandini, media supervisor of Kava
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