Kava Rise: USDT Deposit Incentive Program For Cosmos DApps Developers
Key Points:
- The Kava Rise: Cosmos USDt program was introduced to accelerate Cosmos’ goal of integrating speed and interoperability with the power of Ethereum developers.
- Proposition 148 requires a vote to create a new USDt IBC deposit incentive.
- The program will allow Cosmos chains with the top 10 IBC USDt deposits to receive proportional incentives if approved.
Kava introduced the Kava Rise: Cosmos USDt, which uses a unique programmatic funding model designed to onboard innovative developers.
Kava, a Layer 1 blockchain that combines the power of Ethereum developers with the speed and interoperability of Cosmos, is submitting Proposal #148 requesting a vote to create a new USDt IBC deposit incentive program. If approved, the Kava Rise: Cosmos Incentive USDt Program will commence on August 1, 2023, allowing Cosmos chains with the top 10 IBC USDt deposits to receive a proportional incentive.
The program extension maintains the vision of the original initiative. It creates an exciting opportunity for top Cosmos chains to kickstart stablecoin liquidity in their ecosystem and earn a portion of the monthly KAVA rewards.
Distribution Method:
- Monthly rewards start at 100k KAVA for the first month. Then will increase to 200k KAVA per month pending governance approval.
- A monthly assessment will be conducted on Tether USDt deposits across eligible chains and appchains.
- Deposited amounts will be tracked regularly for consideration in the payout calculations.
- Distributions will be sent to the verified addresses of participating chains and appchains as liquid KAVA tokens.
In March 2022, the Kava DAO set an ambitious goal: allocating $750 million in on-chain developer incentives, marking an unprecedented commitment for those who build your network.
Following Tether’s July 3 decision to make Kava a gateway for native USDt on Cosmos. Kava’s mission is to combine the speed and interoperability of Cosmos with the developer power of Ethereum, creating a decentralized layer 1 blockchain. Tether’s decision advances this goal, spurring growth and empowering new and existing astronauts.
On July 12, Kava 14 successfully launched USDt can now be minted and easily converted on Cosmos, to – and from – USDt on every other L1 with native USDt, including the: Bitcoin (Omni & Liquid protocol), Ethereum, TRON networks, and more.
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.
Author
Blockchain
Kava Rise: USDT Deposit Incentive Program For Cosmos DApps Developers
Key Points:
- The Kava Rise: Cosmos USDt program was introduced to accelerate Cosmos’ goal of integrating speed and interoperability with the power of Ethereum developers.
- Proposition 148 requires a vote to create a new USDt IBC deposit incentive.
- The program will allow Cosmos chains with the top 10 IBC USDt deposits to receive proportional incentives if approved.
Kava introduced the Kava Rise: Cosmos USDt, which uses a unique programmatic funding model designed to onboard innovative developers.
Kava, a Layer 1 blockchain that combines the power of Ethereum developers with the speed and interoperability of Cosmos, is submitting Proposal #148 requesting a vote to create a new USDt IBC deposit incentive program. If approved, the Kava Rise: Cosmos Incentive USDt Program will commence on August 1, 2023, allowing Cosmos chains with the top 10 IBC USDt deposits to receive a proportional incentive.
The program extension maintains the vision of the original initiative. It creates an exciting opportunity for top Cosmos chains to kickstart stablecoin liquidity in their ecosystem and earn a portion of the monthly KAVA rewards.
Distribution Method:
- Monthly rewards start at 100k KAVA for the first month. Then will increase to 200k KAVA per month pending governance approval.
- A monthly assessment will be conducted on Tether USDt deposits across eligible chains and appchains.
- Deposited amounts will be tracked regularly for consideration in the payout calculations.
- Distributions will be sent to the verified addresses of participating chains and appchains as liquid KAVA tokens.
In March 2022, the Kava DAO set an ambitious goal: allocating $750 million in on-chain developer incentives, marking an unprecedented commitment for those who build your network.
Following Tether’s July 3 decision to make Kava a gateway for native USDt on Cosmos. Kava’s mission is to combine the speed and interoperability of Cosmos with the developer power of Ethereum, creating a decentralized layer 1 blockchain. Tether’s decision advances this goal, spurring growth and empowering new and existing astronauts.
On July 12, Kava 14 successfully launched USDt can now be minted and easily converted on Cosmos, to – and from – USDt on every other L1 with native USDt, including the: Bitcoin (Omni & Liquid protocol), Ethereum, TRON networks, and more.
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.
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