What is Kava Network ($KAVA)? All Basic Information You Need to Know

Today, Market247.io will help you learn about one of the prominent layer-1 blockchain which combines the advantages of Ethereum and Cosmos - Kava Network. So, What is Kava? How does it work? Let's find out the answer in the article below.

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What is Kava?

The Kava Network is the first Layer-1 blockchain to combine the Cosmos SDK's speed and scalability with Ethereum's developer support. Through its unique co-chain architecture, the Kava Network will enable developers to build for Web3 and next-generation blockchain technologies. KAVA is the Kava Network's native governance and staking token, enabling its decentralization and security.

How does Kava Network work?

The Kava Network's Co-Chains combine the flexibility and speed of Ethereum smart contract development with the interoperability of the Cosmos SDK in a single network. Kava can also use the all-powerful and ultra-fast Tendermint consensus engine.

With flexible deployment, seamless interoperability, and fantastic on-chain incentives, Kava aims to build the best network for Web3 developers. Furthermore, it aspires to build a network as impressive as the products developed on it.

The Kava DAO is the Kava Network's fully decentralized autonomous organization (DAO). The Kava DAO is a truly decentralized organization with no headquarters, directives, or leadership. Contributors to the Kava Network's security and stability are also tasked with providing direction. The DAO self-governs and keeps its standards in line with the Kava community's expectations. This ensures that the Kava Network always serves the interests of its users and those who build on it.

What is the Technology of Kava Network?

Through its unique co-chain architecture, the Kava Network will enable developers to build for next-generation blockchain technologies. The Kava Network, in particular, enables:

Interoperability

The Ethereum and Cosmos Co-Chains interoperate seamlessly, allowing developers to build in whichever environment they prefer while still having access to the other's users and assets.

Optimized scalability

The Kava Network's unique architecture allows for the free flow of users, assets, and projects at scale between Kava and the industry's most relevant ecosystems, all powered by the Tendermint Core consensus engine.

Rapid ecosystem expansion

Innovative and transparent on-chain incentive programs ensure that the best builders in the Ethereum and Cosmos ecosystems are appropriately rewarded for driving Kava Network growth.

What is Kava Token and Its tokenomics ?

KAVA is the native token of Kava network.

Key metrics of Kava Token

Token name: Kava
Ticker: KAVA
Circulating Supply: 304,270,146.00 KAVA
Total Supply: 306,754,520
Market Cap: $472,985,752

Kava Token Utilities

After clearing about "what is Kava token", then "what is Kava token's utilities?". Kava is essential to the platform's security, governance, and mechanical functions.

The KAVA token has four primary applications:

Security

A weighted bonded stake in KAVA tokens is used to validate blocks by the top 100 nodes. Economic incentives for validators include receiving KAVA as block rewards and a share of the network's transaction fees. Validators risk losing KAVA if they fail to meet strict slashing conditions such as ensuring high uptime and double signing transactions.

Governance

KAVA is used for proposals and voting on critical Kava Network parameters. This includes, but is not limited to, the types of assets and Dapps supported, their debt limits and acceptable assets to use as debt collateral, collateral ratio, fees, and the savings rate for various financial instruments introduced to the network. The KAVA token is also used to vote on proposals that affect the Kava Network SAFU Fund and treasury allocation, such as incentive program reward payouts.

Incentives

A portion of KAVA emissions are distributed as incentives for network expansion. These incentives are distributed directly to the top projects on each chain in order to stimulate growth, encourage competition, and improve the health of the Kava ecosystem.

Kava Token Allocation

After multiple private sales and a Binance Launchpad Initial Exchange Offering, the KAVA token was first released in 2019. (IEO). 40% of the KAVA token supply was sold to private sale investors, with the remaining 6.52% sold on Binance Launchpad for $3 million. Kava Labs shareholders received 25% of the remaining KAVA token supply, while the Kava Treasury received 28.48% to expand the Kava ecosystem.

Roadmap of Kava Network

Q4/2022

December 7, 2021: Development began on Kava’s upcoming Ethereum Co-Chain.
December 19, 2021: Kava Network kicked off with the successful launch of the Kava 9 testnet and The Loan Wars

Q1/2022

January 19, 2022: Kava 9 Mainnet Upgrade (IBC)
February 7, 2022: Kava Pioneer Program Launch
March 8, 2022: Ethereum Co-Chain Alpha Launch

Q2/2022

April 5, 2022: Ethereum Co-Chain Public Beta Launch
May 25, 2022: Kava 10 Mainnet Launch
June 2022: Kava Rise Developer Incentive Program

Q3/2022

ETH Bridge Launch
Kava Foundation Launch

Q4/2022

Kava 11 Mainnet Launch
Liquid Staking Goes Live
Kava Earn Yield Optimizer
Kava SDK Transactions Signed in Metamask
Kava Network GameFi and NFT Incentive Program Launch
KAVA Loyalty and Referrals Rewards Launch
BNB Chain Bridge Launch

Q1/2023

CosmWasm Support
BTC Native Bridge Launch

Core Team, Investors and Advisors

Who is behind Kava projects? Find the answer by reading this section.

Core Team of Kava Network

Kava Labs, Inc., the parent company of Kava, was founded by Brian Kerr, Ruaridh O'Donnell, and Scott Stuart.

Brian Kerr is the platform's current CEO and has previously advised various blockchains and crypto platforms, including Snowball and DMarket. Kerr has a diverse and successful background, as well as a business administration degree.

Ruaridh O'Donnell holds an MSc in Physics. He previously worked at Level Works as an engineer and data analyst.

Investors

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Advisors

Brian Fabian Crain - Brain is the Co-Founder of Chorus One
Jack Zampolin - Jack is the VP Product at Akash Network
Robert Leshner - Robert is the Chief Executive Officer of Compound
Sunny Aggarwal - Sunny is the Founder at Sikka

Conclusion

That is basic information about the Kava project. Market247.io believes you can answer “What is Kava”. You also learn more about the latest update from Kava here.

Website: https://www.kava.io/
Telegram: https://t.me/kavalabs
Twitter: https://twitter.com/kava_platform

FQAs - What is Kava ?

How Is the Kava Network Secured?

Kava is based on Cosmos and employs a Tendermint-based proof-of-stake (POS) consensus mechanism to ensure network integrity.

For transaction confirmation, a network of validator nodes is used. To take on the responsibility of validating transactions, these validator nodes must post collateral. Validators will be penalized if they misbehave or fail to meet strict minimum requirements, incentivizing them to remain honest and efficient.

Several independent blockchain and crypto security organizations, including CertiK, B-Harvest, and Quantstamp, have audited Kava's smart contracts and found no flaws.

Where to Buy Kava (KAVA)?

KAVA tokens can be traded on over a dozen exchange platforms, including Binance, Kucoin, and Kraken, and there are now a plethora of KAVA trading pairs available, the most popular of which are: KAVA/USDT, KAVA/BTC, and KAVA/BNB.

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