What is Kava (KAVA)?
Kava is a software protocol, built on Cosmos, that uses multiple cryptocurrencies to allow its users to borrow and lend assets in a decentralized manner. Users of the platform lock cryptocurrencies into smart contracts on Cosmos in order to borrow loans that are denominated in USDX - a stablecoin pegged to the U.S. dollar.
By collateralizing cryptocurrencies to mint USDX, users receive weekly rewards in the form of KAVA, Kava’s cryptocurrency. Kava utilises a Tendermint-based proof-of-stake (POS) consensus mechanism to ensure the integrity of the network. $KAVA acts as a governance token on the network and distributes management of operations on the network. Holders and stakers of $KAVA gain voting rights on software policies and rules within the network.
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