Singapore – Top 20 CoinMarketCap cryptocurrency exchange BiKI.com has inked another strategic partnership deal. This time it is with Kava, a cross-chain decentralized finance (DeFi) platform. The first initiative in this partnership is to list Kava’s platform token KAVA token.
The listing will be accompanied by joint KAVA giveaway campaigns by BiKi and Kava for new users and fervent supporters. This move will see both parties growing their reach during the listing launch, as they capitalize on their mutual community growth potential.
The Kava platform built by Kava Labs offers decentralized leverage and hedging of major digital assets such as BTC, BNB and ATOM,. This strategic partnership will see BiKi establishing a Node/validator setup. Kava will be providing access to a staking economy and DeFi products to BiKi’s users soon.
A DeFi Initiative
Speaking about the partnership, Southeast Asia CEO of BiKi.com Ethan Ng said, “As a strong believer in DeFi revolutionizing the blockchain industry myself, I am very pleased to have Kava listed with us and growing with us.”
“Like traditional markets, finance is the core that functions as the lifeblood of other industries,” continued Ethan Ng. “DeFi offers better opportunities for mass markets to enter. In my opinion, DeFi has to succeed in order for real progress to take place and Kava is one of the platforms allowing us to take a step closer towards this dream.”
Kava has notably been the first DeFi platform to receive formal backing from Binance Launchpad and has successfully completed its IEO with a US$3 million token sale on October 24th, 2019. Kava’s partnership network includes world-renowned blockchain industry veterans, Ripple, Arrington XRP Capital, and Tendermint, and also leading staking-as-a-service providers, StakeWith.Us and Dokia Capital. Intentions are to support ATOM and XRP as the first few assets on the Kava platform.
“We are excited to see BiKi.com support our efforts and list KAVA, the governance and staking token of our DeFi platform,” said Brian Kerr, Kava CEO and Co-Founder,.
“BiKi will help us in our mission to reach many key ‘hodlers’ of BTC, XRP, and ATOM so that they can leverage the Kava DeFi platform for staking, lending, and hedging,” said Kerr. “I’m very happy to see BiKi take a pro-DeFi stance and work with us. I believe they will play a key part in helping expand our DeFi platform’s global reach and footprint in the many months to come.”
A serial venture-backed entrepreneur, Kerr previously founded and led an esports accessory company, Fnatic Gear. Kerr grew the company from a staff of 3 in 2014 to becoming one of the most prominent forces in the industry. Besides leading Kava’s strategic direction and growth, Brian also serves as an advisor to several blockchain projects, Snowball and DMarket.io.
Bridging Gaps
The Kava team has prided itself on being “the first DeFi application built within the Cosmos ecosystem.” Kava aims to bridge the crypto economy and traditional collateralization processes through the issuance of USDX, which is a US dollar-pegged stablecoin loan in proportion to digital assets collateralized. Kava uses a system of smart contracts to enable users open access to loans and algorithmically managed stablecoins backed by crypto assets, thereby empowering digital asset owners with user-friendly DeFi services.
Users can benefit from the interest rates on Kava’s stablecoin USDX via hedging. Kava has the capability to support a wide range of new crypto assets and offer new synthetics and derivative products.
Supporting lending against crypto assets from other networks, the Kava platform and its token have become an attractive investment to many. This is also due to its features like ‘No Counterparty’ lending where the Kava platform enables users to ‘self-issue’ loans, mint new USDX based on their deposited collateral and destroy USDX when users close out their debt positions, as well as Its algorithmically maintained stablecoin USDX, and also its economically incentivized governance, where KAVA token holders can earn block rewards and fees paid by users.
Roadmap
Token holders will welcome the upcoming launch of Kava’s CDP on their mainnet. Presently, Kava’s developers and validators are running tests on the security and robustness of the product. After the launch of the CDP platform, Kava’s flagship product, Kava will then start accepting crypto assets for collateralization and mint USDX.
A Win-Win Cooperation
BiKi and Kava embody this age of globalization and cross-borderization.
BiKi has officially implemented its global user system on Feb 10th, 2020. With more than 2 million registered users worldwide and 200,000 daily users, BiKi has spent the past year expanding and globalizing its brand, developing industry and community resources. Kava will be able to tap into these resources and networks and cultivate them for its own development in the global markets, accelerating its infrastructure building.
Kava’s cross-chain DeFi platform will provide a derivative financial system that supports multi-asset mortgage lending and provides platform users with decentralized stablecoins. BiKi users and investors can utilize the Kava platform to realize leveraged hedging and hedging of assets that are held in unstable market conditions.
With the strategic cooperation continuing at brand and market expansion levels, both parties will significantly impact their positionings within the DeFi ecosystem.
About BiKi.com
Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange ranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform for trading more than 150 cryptocurrencies and 280 trading pairs. BiKi.com is focused on providing the safest, most stable and most effective cryptocurrency trading platform. 100% of the transaction fees are used in buyback and burning of platform token, BIKI. Since its official opening in August 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 2 million registered users, 200,000 daily active users, over 2,000 community partners and 200,000 community members. BiKi.com has received investments from Huobi co-founder Du Jun, Genesis Capital Zhu Huai Yang, FBG Capital, ChainUP and others totaling approximately 10 million USD.
