Georgetown, Cayman Islands, July 12, 2023, Chainwire
kavaa Layer 1 blockchain that combines the development power of Ethereum with the speed and interoperability of Cosmos has launched the Kava 14 upgrade. This upgrade deploys “internal bridge” technology to seamlessly convert native Cosmos assets to and from Ethereum’s ERC20 token standard.
Kava 14 is part of a group of milestones in the making. In early July, Tether announced its decision to make Kava the gateway for issuing native USD on Cosmos. With the launch of Kava 14, USDt can now be minted and easily converted on Cosmos, to – and from – USDt on all other L1s with native USDt, including: Bitcoin (Omni & Liquid protocol), Ethereum, TRON networks, and more.
“In the first few days after the launch of Kava’s official Tether integration, more USD was issued on Cosmos than on Polkadot and Near combined,” said Scott Stuart, co-founder of Kava. “It is clear that people want USDt on the interchain. I am optimistic that having a native stablecoin and a safe and reliable way to convert it across chains via the Kava 14 upgrade will finally unlock the amazing technology that the Cosmos ecosystem has built.
Kava is gaining momentum
Following Tether’s announcement in July, Kucoin now supports Kava’s Cosmos and EVM networks, providing reliable CEX for user transactions within the Cosmos ecosystem. Meanwhile, Curve Finance’s launch of a USDt liquidity pool offers a decentralized alternative for power users. In parallel, Stargate, a superior omnichain liquidity layer, is expected to launch on Kava, anticipating increased usage and liquidity. This expansion follows a governance proposal that plans to expand the scope of the Kava Rise incentive fund.
The Kava 14 upgrade is a leap forward for Cosmos DeFi builders and users, providing a safer, more secure, and more reliable method to convert assets to and from the Cosmos ecosystem.
Follow @KAVA_CHAIN on Twitter for more news and updates on the Kava 14 mainnet launch.
About Kava
kava is a secure and super-fast Layer 1 blockchain that combines the development power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to driving innovation and growth, Kava is a trusted choice for developers and users everywhere.
For more updates, follow Kava on Twitter.
Disclaimer
This press release is not an offer to sell or the solicitation of an offer to buy USDt or KAVA tokens.
Contact
media manager
Guillermo Carandini
kava
(email protected)
