Injective has integrated Kava to expand access into stable assets such as USDt.
This collaboration arrives on the heels of Kava’s recent announcement that it will have the backing of the Tether foundation in order to natively issue USDt within the broader Cosmos ecosystem.
The collaboration will include direct IBC bridging of USDt from Kava into Injective. In addition, the Kava community has also approved a governance proposal to incentivize the usage of USDt on Injective with Kava token rewards.
What is Kava?
Kava is a decentralized blockchain that seeks to combine the speed and interoperability of Cosmos, with the developer power of Ethereum. Natively built with the Cosmos SDK, Kava is highly interoperable and boasts an EVM-compatible execution environment that empowers Solidity developers and their dApps to quickly deploy to its network.
In a recent development, Kava collaborated with Tether to introduce native USDt to the Cosmos ecosystem, aiming to stimulate its growth and adoption. With this latest integration, Kava looks to tap into Injective’s wide financial ecosystem and community to help amplify the usage and adoption of USDt.
What Does This Integration Entail?
This integration will not only bring native USDt into Injective’s ecosystem, but it will further fortify Injective’s position as a leading L1 chain for interoperability.
Potential use cases for the integration include but are not limited to the following:
1. Exchange dApps on Injective to add Kava
Kava will be available across all exchange dApps built on Injective, allowing users to seamlessly trade Kava within the Injective network. This new listing helps to bring further diversity of assets into the Injective ecosystem, while still maintaining the fast speeds, zero gas fees, and market-leading rewards.
2. dApps on Injective to integrate USDt
Exchange dApps built on Injective will also add perpetual markets with the USDt quote asset. USDTkv will be available immediately, allowing users to leverage, hedge and more with Kava’s USDt serving as the underlying asset.
3. Rewarding the Open Liquidity Program Participants
Traders participating in Injective’s Open Liquidity Program will be able to earn rewards by actively trading on these two new perpetual markets with USDTkv. A total of 100,000 KAVA will be available as rewards per trading epoch.
How Does This Impact the Injective Community?
This collaboration between Injective and Kava represents a significant step forward in the realm of decentralized finance. It merges the strengths of both platforms to create a seamless experience for users while also further solidifying Injective’s position as leading L1 for cross-chain assets.
This integration also allows for further channels of growth for the Injective community, helping to push forward its mission to create a fully democratized financial future through decentralization.
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.