The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Kava Launches Liquid Staking With Successful Mainnet Upgrade

by ChainWire
October 26, 2022
in Industry Announcements

October 26, 2022 – San Francisco, California


The Kava Network, an open-source, EVM and Cosmos IBC compatible, layer one blockchain ecosystem, successfully implemented its Kava 11 mainnet upgrade on October 26, 2022.

Kava, a layer one blockchain network connecting EVM and Cosmos through its co-chain architecture, successfully launched its Kava 11 mainnet upgrade on October 26, 2022, at 15:00 UTC. The upgrade enables many new features, especially Kava Network’s new state-of-the-art liquid staking (Kava Liquid) feature – the first-ever fully convertible liquid staking protocol.

The Kava 11 upgrade is the beginning of a new chapter for Kava. Liquid staking on Kava lays the foundation for unlocking all staked KAVA for use in DeFi protocols on the Kava Network. Kava 11 will transition a significant portion of staking rewards over to bKAVA rewards.

Converting staked KAVA to bKAVA and supplying the asset to the brand new earn (a yield optimizer integrated with multichain’s ERC-20 bridge) and boost modules will significantly increase a staking APY. One of the main benefits is that, besides benefitting some of the highest APYs in the market today, stakers will maintain their voting power in the network – a monumental step for DeFi protocols toward real decentralization.

In addition, Kava 11 enables interacting with the Kava App and signing Cosmos SDK transactions directly through MetaMask, greatly simplifying previous processes.

Scott Stuart, CEO of Kava Labs, said,

“The goal of Liquid bKAVA is to unlock the power of staked KAVA for all DeFi protocols onboarding rapidly to the Kava network.

Unlike other forms of liquid staking, which can only support a small fraction of liquid staked asset conversion, Kava Liquid can handle 100% conversion of staked KAVA to bKAVA and back again while preserving decentralization of voting power. That is an invention unique to the Kava Network and aligns with our goal to grow DeFi protocols on Kava.”

One of the most high-impact events linked to the Kava 11 launch is the creation of the Kava Foundation, an entity in which KAVA token delegators will control about $200 million in assets to safeguard network growth for the future. The Kava Foundation will enhance network security, aid network infrastructure development and create new avenues of growth and innovation via community owned liquidity.

Since 2021, more than 40 protocols have been deployed to Kava to join the network’s unique on-chain programmatic builder incentives program Kava Rise. Notable deployments include tier one DeFi protocols such as Curve Finance and Sushi, who have decided to join the initiative led by Kava Rise to launch DeFi towards mass adoption.

The Kava 3pool on Curve reached $14 million in TVL on the first day of the pool’s KAVA token rewards going live. Sushi’s deployment included integration with Sushi’s most-used DApps – Trident, Furo, BentoBox and Onsen.

To learn more about the Kava 11 upgrade and its significance for the Kava Network, visit here.

About Kava 

Kava is a secure, lightning-fast layer one blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network.

Contact

Guillermo Carandini, media manager of Kava Labs

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

 
Submit a Press Release

Industry Announcements

  • Coinfest Asia Is Back in 2023 Carrying the Theme of Web 2.5
    March 20, 2023
  • Poolz Security Incident Prompts Rapid Response and Platform Restructuring
    March 16, 2023
  • Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar To Combat Centralized Stablecoins
    March 16, 2023
  • Partnership Announcement – Oraichain x DoraHacks
    March 16, 2023
  • Wemade Announces Partnership With Space and Time To Power Blockchain and Gaming Services
    March 15, 2023
  • DAO Maker’s Degen Zoo Builds the Abandoned Logan Paul Game in 30 Days
    March 10, 2023
  • New Peer-to-Peer Chat Application Launches on the Decentralized Streamr Network
    March 9, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,310.59
$28,310.59
0.22%
Ethereum
$1,816.51
$1,816.51
1.76%
Cardano
$0.350687
$0.350687
1.77%
XRP
$0.418452
$0.418452
8.9%
Dogecoin
$0.075078
$0.075078
1.03%

Spotlight

  • Reminder: Credit Suisse Guilty of Tax Fraud and Subprime Mortgage Fraud, Accused of Aiding Clients Engaged in Torture, Drug Trafficking, and Money Laundering
    March 15, 2023
  • Four Major Crypto Exchanges Announce Support for Arbitrum (ARB) Ahead of Massive Airdrop
    March 18, 2023
  • Top Crypto Analyst Says Bitcoin Could Be Gearing Up for Parabolic Push – Here’s His Target
    March 21, 2023
  • Ethereum Creator Vitalik Buterin Sends 200 ETH to Crypto Exchange Kraken: PeckShield
    March 14, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl