Kava is fast becoming one of the most sought-after platforms in the digital currency world. In line with the company’s goal of promoting inclusion and helping more individuals and businesses leverage the features and benefits of the world of cryptocurrency, Kava regularly comes up with innovative solutions to meet the growing and diverse demands of players in the market.
Bitcoin and other digital currency have enabled users to take control of funds by eliminating the stress that comes with transacting through the banks and middlemen. Users of cryptocurrency can now have custody of their digital assets, store value and make payments without huge fees or censorship from regulators. Unfortunately, the crypto sector currently lacks the traditional banking functions of providing loans, money markets, and savings rates. However, Kava is looking to change this narrative by providing every financial service that a bank offers for multi-crypto assets.
Kava is a native blockchain built with the Cosmos sdk framework and has grown to become one of the most trusted DeFi infrastructures. The platform has been able to debunk the common misconceptions that it is a maker competitor and compound competitor. On the other hand, Kava (the app) built on the Kava infrastructure is a Maker alternative for multi assets with an app called Hard, a soon-to-be-launched compound competitor.
Hard comes with a wide range of features that stand it out from other platforms. The app currently serves as a fully functional money market and recently completed its whitepaper, with crypto players set to enjoy its amazing features and benefits.
Benefits of Hard For Lenders
Hard money markets are particularly used for Bitcoin users across the globe, allowing lenders to lend their Bitcoin and earn BTC while increasing their exposure to the digital asset.
What does that mean for borrowers?
For the first time ever, users can now earn with their Bitcoin by borrowing and increasing decentralized exposure to Bitcoin by buying more through the borrowed dollars against the Bitcoin. As opposed to trading out assets, users can borrow BTC and avoid paying capital gains. Users can stake rewards in Bitcoin, putting their digital currency in Hard protocol and earning Bitcoin from borrower’s interest.
Users can earn staking rewards as well as subsidy HARD tokens with the option of going long before selling their dollars for Bitcoin to lever a position. On the other hand, users can put dollars up, borrow Bitcoin and sell it.
Kava has been able to get the borrowed product to market first and intends on continuing to beat Compound with a fast and focused engineering team. Compound’s putting significant effort into this cross-chain vision that Hard has completed already so users can earn on their Bitcoin. Kava’s community broke ground in Q3 of 2020 following the launch of the Hard money market app built on Kava, with plans to launch Gateway, their cross-chain solution in Q3 of 2021. Kava is a year ahead and now in Q1 of 2021 Kava completed the application and made it cross-chain. The first-mover advantage is worth noting.
For more information about Hard and other solutions from the company, please visit – www.Kava.io.