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The crypto Kava Labs Inc (KAVA)
Kava is the brainchild of Brian Kerr (the company’s current CEO), Ruaridh O’Donnell and Scott Stuart and is a cross-chain DeFi lending.
The company essentially lends USDX, Kava’s stablecoin, to earn interest, and against the loan, the user receives other cryptos.
The company acts as a full-fledged lending institution and gives the option including the use of USDX, synthetics, and derivatives.
Kava was created on Cosmos and uses CDP (collateralized debt position) to ensure that loans can be repaid.
If the security standards required of the borrower do not meet the parameters Kava can reprice the CDP collateral by sending it to an auction to be liquidated.
Kava, the company’s native token, gives holders the ability to vote on internal and governance decisions; it is also recognized as a reserve currency.
Kava uses proof-of-stake (POS) on Tendermint to ensure the operation of the network.
A network of validator nodes is in charge of endorsing transactions by providing guarantees.
If validators do not perform their role as required they will be penalized.
One of Kava’s co-founders Scott Stuart recently stated:
“Kava has admired Tendermint for a long time and believes in the importance of building a blockchain framework for mass adoption. We are excited to help Cosmos extend its reach to new markets while providing the ecosystem with access to new users, liquidity, and services.”
Kava price today is worth 0.954687 euros with a slight decline of 0.34 percent on the daily.
The crypto boasts a day-on-day trading volume of €34 million with a market capitalization of €380,176,941.
crypto Polygon(MATIC) .
Polygon was founded in 2017 as Matic Network and will keep the name only for its token (MATIC).
Two years after its inception, the project has switched chains from Ethereum to its blockchain of the same name.
Polygon is a scaling for Ethereum that gives the possibility to create from scratch decentralized Apps that are secure, easy and scalable precisely, all with very little cost.
DApp creation is supported by the modular Polygon SDK framework.
Polygon is nothing more than a Layer 2 scaling that enables faster transactions.
The company is based on Proof of Stake (PoS) on Ethereum and can get on a single sidechain 65,536 transactions per block.
MATIC acts as a reward for staking tokens to validators.
MATIC touches $1.21 today losing 3.65 percent since yesterday.
Daily trading volume has reached $632.71 million for a circulating volume of nearly 9 billion MATIC.
Since the beginning of the year, the token has gained 43.51% when compared to the same period last year but is far from its value a year ago which was $1.60.