Kava Network announces $14 million package for Sushi development team

Kava Network will sponsor USD 14 million for the Sushi project development team. Accordingly, Sushi users and developers will be welcomed and given access to the entire market value of up to 300 billion USD on Ethereum and Cosmos from a single network.

Kava Network sponsors $14 million for Shushi

Kava Network is expanding its incentive program to recruit industry-leading DeFi applications. Kava will allocate a $14 million stimulus package as a daily reward to Sushi. The implementation of Sushi on Kava opens up a new set of DeFi products for users with attractive yield-farming, fast speed, and optimal efficiency.

Kava is built on top of the Cosmos SDK, a platform for building public proof-of-stake (PoS) blockchains to combine Ethereum and Cosmos into a single network. This allows developers to build and deploy applications on a single chain while still having access to the assets available on Ethereum and Cosmos.

Last year, Kava Network launched the $185 million Ignition Fund to accelerate the development and support of potential DeFi and fledgling projects.

March 9, Kava just launched a $750 million Kava Rise stimulus package exclusively for #BUIDLer, empowering DeFi application developers. The project is expected to provide 62.5% of block rewards to developers who are active on the Kava Ethereum and Cosmos blockchains.

Sushi is an omnidirectional decentralized finance platform that started as a fork of the Ethereum-based decentralized exchange Uniswap but quickly became one of the few “blue chip” DeFi assets by mid-2020. This ecosystem currently holds more than 2.1 billion USD TVL with over 30,000 monthly users and 14,740 asset trading pairs.

SushiSwap DEX has deployed on more than 13 different blockchains. Kava Network will be one of the first chains to integrate with Sushi.

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

Coincu News