Kava Lend update: HARD Live price, price chart, news and markets

The HARD price update as of now is $0.1434. In the previous 24 hours, its trading volume was $2,576,315, and its value has increased by -0.00%. As of now, HARD's live market cap is $17,739,759, and it is ranked as the #747 on the Coincu. HARD has a circulating supply of 200,000,000 and a maximum supply of 200,000,000.

Kava Lend Overview

Lending and Borrowing services have played a significant role in the growth of the DeFi space. Hard Protocol, now known as Kava Lend, has emerged as a standout project in this field.

What is Kava Lend?

Kava Lend (HARD) is a lending protocol that operates on the Kava blockchain (KAVA), allowing users to borrow and lend assets directly without intermediaries. This project has gained substantial attention from the community and stands out as an emerging DeFi platform. Unlike most DeFi projects on Ethereum, Kava Lend has chosen the Cosmos network to establish its foundation and has integrated new functionality into its protocol.

Users can borrow and lend various cryptocurrencies, including BTC, XRP, BNB, BUSD, KAVA, and USDX (a stablecoin pegged to USD and minted using a mechanism similar to DAI's over-collateralization mechanism by Maker), which are not available on the Ethereum blockchain.

Originally known as Hard Protocol, the project officially rebranded to Kava Lend on August 27, 2021, to simplify the understanding of the Kava blockchain and highlight its core lending function.

Main Features of Kava Lend

Aims of the Project

Kava operates as a blockchain platform within the Cosmos ecosystem, built using the Cosmos SDK, similar to other well-known platforms such as Crypto.com, Terra, and Binance Chain. Initially focused on lending with the stablecoin USDX and supported by cryptocurrencies like BTC, ATOM, XRP, and BNB, Kava is now expanding its ecosystem to encompass various other DeFi aspects, including cross-chain functionality, infrastructure development, storage wallets, and decentralized exchanges.

Key Activities on the Kava Lend Platform

Lending

The lending feature enables users to deposit their assets into Kava Pools, allowing them to earn higher APY and rewards. This method offers a secure way to generate income on Kava. Users can also borrow supported cryptocurrencies against their collateral, and engaging in borrowing activities also provides rewards. Additionally, providing USDX to the Pool allows users to maximize their rewards while minimizing liquidation risk.

Minting USDX

Users have the option to use their crypto holdings as collateral to borrow USDX with low or no interest. They can then leverage various Kava functions to earn without trading their assets. For example, lending USDX can generate a secure passive income.

Asset Swap and Pooling

Kava Lend facilitates secure and efficient asset exchanges through its Swap feature. Users can also participate in liquidity provision by adding USDX and another asset to pools that offer attractive APY levels.

Governance Voting

Holders of the HARD token, the native token of Kava Lend, can actively participate in the governance process to contribute to the protocol's development.

Distinct Advantages of Kava Lend

Seamless Interoperability

Kava enables seamless interaction between the Ethereum and Cosmos networks, empowering developers to build applications in their preferred environment.

Optimized Scalability

Thanks to its unique architecture and the use of the Tendermint Core consensus engine, Kava ensures scalability for user flows, assets, and projects.

Rapidly Growing Ecosystem

Kava offers innovative and transparent incentives to reward the best developers in its ecosystem, fostering a rapidly expanding community of contributors.