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Blockchain

Kava Now Live On Axelar Network

December 23, 2022 - Around 2 mins mins to read

Key Points:

  • Cross-chain interoperability network Axelar has integrated with Layer1 blockchain Kava.
  • Satellite users can now transfer assets from any connected chain to Kava, and developers can tap into the vast ecosystem of dApps building on top of Kava’s architecture.
  • Axelar is trying to integrate decentralized finance (DeFi) platforms to make it possible for users to scale cross-chain transactions through these platforms.
Axelar, a network for cross-chain communication, has connected with Layer 1 blockchain Kava. Satellite users can now send assets from any linked chain to Kava, and developers can access the enormous ecosystem of dApps Kava’s design has spawned.
Kava Now Live on Axelar Network

Axelar delivers secure cross-chain communication for Web3. Secure means the network is built on proof-of-stake, the battle-tested approach used by Ethereum, Cosmos, Avalanche, and more.

As Coincu reported, Axelar has launched a $60 million startup financing program to speed the development of decentralized applications and protocols that may eventually replace traditional exchanges. More than 15 investors have backed the program, which intends to connect financiers and the creators of interchain dApps.

It seems that the Proof-of-Stake blockchain is trying to integrate decentralized finance (DeFi) platforms to make it possible for users to scale cross-chain transactions through these platforms.

Kava is a software protocol that enables users to lend and borrow assets without the requirement for a conventional financial intermediary by utilizing a number of cryptocurrencies. It is regarded as one of the new DeFi efforts in this approach. The network, however, is built on Cosmos rather than Ethereum, which, according to its creators, gives more functionality. Most DeFi applications run on Ethereum.

Kava Now Live on Axelar Network

Users of its platform can borrow loans in USDX, a cryptocurrency pegged to the value of the U.S. dollar, by locking cryptocurrency into smart contracts on Cosmos.

Not only Kava, but before that, Axelar also integrated with other layer-2 blockchains such as Arbitrum, Polygon, or Circle, the company that issued USDC stablecoin.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Arbitrum

Axelar

KAVA

layer 1

Polygon

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Blockchain

Kava Now Live On Axelar Network

Key Points:

  • Cross-chain interoperability network Axelar has integrated with Layer1 blockchain Kava.
  • Satellite users can now transfer assets from any connected chain to Kava, and developers can tap into the vast ecosystem of dApps building on top of Kava’s architecture.
  • Axelar is trying to integrate decentralized finance (DeFi) platforms to make it possible for users to scale cross-chain transactions through these platforms.
Axelar, a network for cross-chain communication, has connected with Layer 1 blockchain Kava. Satellite users can now send assets from any linked chain to Kava, and developers can access the enormous ecosystem of dApps Kava’s design has spawned.
Kava Now Live on Axelar Network

Axelar delivers secure cross-chain communication for Web3. Secure means the network is built on proof-of-stake, the battle-tested approach used by Ethereum, Cosmos, Avalanche, and more.

As Coincu reported, Axelar has launched a $60 million startup financing program to speed the development of decentralized applications and protocols that may eventually replace traditional exchanges. More than 15 investors have backed the program, which intends to connect financiers and the creators of interchain dApps.

It seems that the Proof-of-Stake blockchain is trying to integrate decentralized finance (DeFi) platforms to make it possible for users to scale cross-chain transactions through these platforms.

Kava is a software protocol that enables users to lend and borrow assets without the requirement for a conventional financial intermediary by utilizing a number of cryptocurrencies. It is regarded as one of the new DeFi efforts in this approach. The network, however, is built on Cosmos rather than Ethereum, which, according to its creators, gives more functionality. Most DeFi applications run on Ethereum.

Kava Now Live on Axelar Network

Users of its platform can borrow loans in USDX, a cryptocurrency pegged to the value of the U.S. dollar, by locking cryptocurrency into smart contracts on Cosmos.

Not only Kava, but before that, Axelar also integrated with other layer-2 blockchains such as Arbitrum, Polygon, or Circle, the company that issued USDC stablecoin.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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