Review on Kava by Gabriel Medina

Name: Kava
Item: Kava
Rating: 5

October 02, 2020

DeFi decentralized financial services platform

Kava is a DeFi project or platform built on the Cosmos SDK along with the idea of a dual token. It aims to become the best DeFi platform by providing a decentralized lending platform and stablecoins compatible with major cryptocurrencies.

The first token is USDX, a stablecoin that is backed by strong crypto assets such as: ATOM, BTC, BNB, XRP.

The second token is KAVA which is the native token of the blockchain and comprehensive in the security, governance and functions of the platform.

The Kava project has some highlights as follows:

Double Token Mechanism: You have two tokens: KAVA and USDX. Kava Network has the advantage of taking advantage of the stability of the USDX.
Ecosystem scalability: It is designed by Cosmos SDK.

This is a recent project, benefiting from the great enthusiasm that has been pouring into decentralized finance.
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Pros

It has the advantage of taking advantage of the stability of the USDX.
Self-issued loans allow people to get a loan quickly.
Multi-collateral debt positions for the use of these protocols and projects to present them as collateral when you want to issue a loan.
Strong connection and association with the industry.

Cons

Loan projects are too centralized.
There is no good technical documentation and a fair investigation and information on how it works is not provided.
The team has little experience.