Kava Labs has launched Harvest, a yield-generating DeFi platform
Kava Labs has launched a yield-generating DeFi platform for BTC, XRP, BNB, BUSD, KAVA, and USDX, called Harvest, the world’s first cross-chain money market.
Welcome to https://t.co/8B63CAfZVC the world’s first cross-chain money market built on the Kava blockchain.
With Harvest you can now lend, borrow, and earn on major crypto assets including BTC, XRP, BNB, USDX, and KAVA.
Read how Harvest helps you earn:https://t.co/oirkNWmAkF
— Harvest.io (@harvest_io) September 18, 2020
Harvest is the first of what will be many applications that utilize the Kava blockchain’s security, price feed module, and cross-chain functionality to provide open and decentralized financial services to the world, according to the company’s blog.
Soon, Kava Labs plans to debut automated market makers (AMMs) like Uniswap and robo-advisors like Yearn.Finance on the blockchain as well, said Kava Labs CEO Brian Kerr.
Harvest users who borrow or lend on the app will be paid their interest and HARD tokens, the governance token of Harvest, which will also be used to incentivize liquidity on the platform.
“Harvest.io is a logical addition to the DeFi ecosystem taking shape around Kava. We think the choice it brings to investors to lend and borrow assets, not well supported by existing platforms, is really exciting — as is the ability for Kava stakers to earn HARD tokens and participate in the new platform’s governance. The Kava community is one of the most active in crypto so we look forward to joining with them to support Harvest’s launch and future growth.” — Richard Galvin, Digital Asset Capital Management said.
Kava Labs was founded in 2018 and based in San Francisco, California. Kava Labs is a developer of the Kava DeFi Platform, a blockchain solution providing DeFi services such as stable coins, bonds, and lending to crypto users across many blockchain networks. Kava token conducted an initial exchange offering (IEO) on Binance in October 2019.
Read more:
- DeFi Has Become One Of The Critical Growth Areas For Ethereum
- DeFi Pulse Data Shows That The Value Of Coins Locked In DeFi Has Surged Over $8 Billion