Reef Finance has reportedly built-in with Kava to supply “world-class” decentralized finance (DeFi) providers to platform customers.
As famous within the announcement:
“Kava [has] partnered with Reef Finance, the main DeFi challenge within the Polkadot ecosystem. The cooperation will deliver Kava’s collateralized loans, USDX stablecoins, HARD Protocol and different … enticing yield alternatives to Reef customers.”
As beforehand reported, the Polkadot Network goals to supply “unprecedented” financial scalability by enabling a typical set of transaction validators to safe a number of blockchain platforms.
The USDX stablecoin is a cryptocurrency that goals to supply the identical degree of “stability and belief” of the US greenback. The coin could also be acquired by way of a cell app and could also be used to ship funds as simply as sending a message. The HARD protocol is described as a permissionless and “decentralized” cross-chain cash market. Customers had been in a position to stake their Binance Coin (BNB), Binance USD (BUSD) and KAVA tokens into totally different swimming pools with a purpose to farm (or earn) HARD tokens.
Kava claims that it’s the primary DeFi initiative on the Cosmos blockchain or distributed ledger technology (DLT) community. Kava focuses on providing interoperability to DeFi. Kava’s platform gives numerous cross-chain DeFi alternatives, collateralized stablecoin loans, and real-time value feeds through Chainlink’s widely-used oracle community.
As confirmed in a weblog submit by Kava Labs, Refrain One, which runs transaction validator nodes and staking providers for Proof-of-Stake blockchains, has been awarded a grant from the Cosmos Interchain Basis to develop a Substrate implementation of the inter-blockchain communication (IBC) protocol which “goals to attach the 2 ecosystems.”
As talked about within the announcement:
“As a part of this effort, Reef Finance will combine with rising applied sciences like IBC to create a cross-chain DeFi ecosystem. Kava is the primary challenge constructed with Cosmos SDK that may combine with Reef’s platform. The partnership brings a bunch of options to Reef Finance’s DeFi platform:”
The weblog additional famous:
“Kava’s platform offers collateralized loans within the type of Kava’s stablecoin USDX, in return for cryptocurrencies from totally different blockchains, together with BTC, ETH, XRP, BNB, ATOM, and so forth. Via this partnership, customers of Reef’s DeFi platform will be capable to simply entry the collateralized loans accessible on Kava’s platform.”
Reef reportedly leverages an AI and machine studying (ML) powered DeFi Sensible Yield Farming engine that may let customers entry numerous yield farming alternatives which might be being supplied through the Kava platform. This additionally gives Reef’s customers the choice to “diversify their funding additional, by way of Reef’s sensible portfolio administration instruments.”
(Be aware: for extra particulars on this announcement, verify here.)