Review on Kava by Orlymar Córdova
Kava: An innovative Defi project that gives us access to a variety of financial products and services
Kava is a relatively recent Defi platform (launched in late October 2019) whose company is based in Silicon Valley. This is another of the projects that makes use of blockchain technology with the intention of providing more accessible financial services to the community, in this case providing a platform for decentralized loans with guaranteed value and stablecoins compatible with many of the main digital currencies such as Bitcoin. (BTC), Ripple (XRP), Cosmos (ATOM), Binance Coin (BNB), among others.
The Kava project is backed by more than 100 validators or entities among which are: Binance, Huobi, Okex, Ripple, Cosmos, among others. It has special characteristics such as interoperability between the different blockchains.
It has the particularity of having a dual token: On the one hand, the KAVA token, native to the project, which is used to maintain the security of the network, governance and carry out other procedures within the platform, and on the other the USDX token, a stablecoin backed by major crypto assets. KAVA currently ranks 120th on the coinmarketcap with a price tag of $ 2.10 USD. Its highest peak was on August 17 this year ($ 5.52 USD).
By way of conclusion, the Kava platform acts as a decentralized Defi center that allows the interconnection of users with a variety of products and services (stable coins, accounts, loans, among others). Although it is a recent project, it has already achieved some success in the crypto market.
Pros
- The project is backed or protected by more than 100 entities, including the most prominent in the cryptocurrency industry such as Binance, Ripple, among others.
- Kava offers loans to its users in a stable currency pegged to the US dollar.
- Kava's DeFi platform allows the use of assets on various blockchains to obtain loans in the USDX token.
- There are several wallets available to store the tokens (ledger, trust wallet, delchain)
- It has a secure, audited and verified protocol
Cons
- Considering the size of the project, it seems to me that your website is very basic and lacks a lot of relevant information.
