Review on Kava by Japheth Ayuba
Kava has changed my perspective on Decentralized Finance
Kava has really changed my perspective of Decentralized Finance Projects. Formerly, I felt that Defi projects is all about pump and Dump save for the staking rewards though, but Kava is a game changer in the world of decentralized finance today. The project has a lot of backing from reputable crypto organizations such as Binance, Huobi Global, Okex and Cosmos. Just like every other De-Fi project, users are holders who have a stake in the crypto coin and therefore has governance authority to determine new implementation or additives to the project development. There is also staking rewards for it's stakers and the project allows the providence of Collateralized Debt Position CDP by giving users who have locked their funds in the project the ability to collect loans from the project and this loans are issued from it's USDX holdings which is a stable currency pegged to the US dollars. To participate in this project, one must have Kava which is the coin issued by the project. Kava beats many other projects by being a Cross-chain Decentralized Finance Project which allows switching from BEP-2 tokens and therefore allows the interaction between different blockchains. The coin can be held on personal wallets and exchange wallets like Binance and Trust Wallet. On the site of this project, users can connect their wallet to the project and therefore stake their coins which gives them governance power and staking rewards. The kava coin is a non-mineable asset as it used the Tendermint based PoS consensus mechanism and so, if anyone wants to earn or mine this token, he can only get by staking
This project is recommendable to anyone interested in Defi projects
Pros
- The Kava project is a Decentralized Finance Project that offers Defi in a whole new way
- It uses different blockchains which makes it accessible on different network
- Backed by major reputable organizations in the Crypto world
- Holders of this coin are rewarded for staking and given an autonomous power of Governance to direct the projects development
Cons
- There is no negative comments on the project
