Binance’s Kava launches Kava 4 Gateway
By Pavithra R
Kava, a venture-backed company, working on frontier innovations within payments and blockchain technologies has announced the launch of Kava 4 Gateway.
Kava 4 Gateway is expanding the company’s capabilities enabling support for BTC, XRP, BUSD, and offers the ability to expand to more assets without requiring any network upgrade. It also includes Harvest.io, the company’s cross-chain money market application. Harvest enables users to lend, borrow, and earn with assets like BTC, XRP, BNB, BUSD, KAVA, and USDX.
The launch marks a major milestone for Kava, as the company ceases to be a single application blockchain, and becomes a true layer one DeFi Hub where developers can leverage Kava’s security, cross-chain bridges, and adapted Chainlink Oracles to create new cross-chain DeFi applications and deploy them to Kava’s global user base.
The firm has been experiencing rapid growth over the past few months since the Kava 3 launch. Kava 4 Gateway upgrade includes an impressive set of new modules and features. These include:
- A Chainlink Oracle Update with BTC:USD, Bitcoin/USD market pair; XRP:USD, XRP/USD market pair; BUSD:USD, Binance-USD/USD market pair now available in the pricefeed module.
- A BEP3 binance bridge expansion BEP3 cross-chain swaps will be now via the Binance deputy process. The system limits that were in place for BNB to limit risk in the initial Kava 3 launch for safety are now safely expanded to much larger numbers allowing much larger amounts of capital to flow into Kava for use in DeFi applications.
- Kava CDP Update with BTCB-A, XRPB-A, BUSD-A, BUSD-B collateral types added.
- Governance Update: In Kava 4, the governance process will be reduced to 1 week, down from the previous 2-week voting process, thereby adapting to fast-paced market dynamics of the DeFi market.
- A Cosmos-SDK Update: Kava 4 enables validators to use the default “pruning=syncable” strategy again.
Founded in 2018, Kava Labs is the developer of the Kava blockchain, the first multi-blockchain DeFi platform. The firm’s mission is to transform how the world transfers value.