Kava is currently trading at $0.76, after a price change of 2.94% in the last 24 hours.
Ranked as cryptocurrency #97 by capitalization today, KAVA market cap is valued at $287,462,360. KAVA trading volume reached $33,975,849 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on KAVA coin price prediction page.
What is Kava?
Kava is a blockchain protocol built for DeFi applications. The layer one chain is based on Cosmos and secured with Tendermint proof-of-stake consensus algorithm. Three tokens power the platform; native KAVA, stablecoin USDX, and HARD token. The platform allows users to collateralize their cryptocurrencies in return for USDX. HARD token is used to incentivize dApps management.
Kava allows developers to deploy projects on Ethereum’s co-chain or the Cosmos co-chain environments. Kava network supports the deployment of solidity smart contracts that are interoperable across the Cosmos SDK platforms. Kava also features a decentralized autonomous organization called KavaDAO.
There are 161,503,511 circulating KAVA tokens from an uncapped supply of 154,004,110. KAVA holders can vote on blockchain proposals touching on USDX management, collateral types, debt ratio, and price stability charges. KAVA can be staked or used in delegating voting privileges to validators in exchange for transaction fees. The votes are weighted based on their staked tokens. The holders can also operate staking nodes for KAVA rewards.
Brian Kerr, Ruaridh O’Donnell, and Scott Stuart founded Kava project in 2018