The decentralized financial platform Kava, or DeFi, has announced its intention to host a cross-chain money market on its Cosmos blockchain to take advantage of the power of DeFi.

Kava said in a statement on its website that they want to create an app called Harvest that will allow users to borrow or lend digital assets, including BTC, CRP, BNB, BUSD, KAVA and USDX. Interest is paid to customers and Harvest’s HARD.

Harvest integrates Chainlink’s Kava price reference data to facilitate cross-network transfers. The company said the platform can be accessed by “anyone, anywhere” because it is open and unauthorized. Ideally, Harvest will help integrate “financial market participants in areas other than fintech applications, stock exchanges and financial institutions.”

Kava said she will eventually launch more blockchain applications for DeFi products. Harvest uses Kava’s Mainnet update.

Kava CEO and co-founder Brian Kerr said it was important for the company to present a clear symbol of governance. It is a symbol of governance, HARD, “will coordinate decentralized activities in the lending and lending ecosystem.” He said:

Most importantly, this framework gives developers the ability to quickly build applications on Kava’s open, decentralized network, with the ability to leverage security, bridges and other infrastructure that would otherwise cost millions and take years to develop independently. ”

Harvest users who own HARD will also be able to manage the distribution of bonuses on the network and select digital assets that can be separated. Kava reported 20% of the total supply of HARD tokens for Kava stakeholders in the coming years.

Cointelegraph previously reported that Binance chose Kava as its integration partner when the stock exchange took its first steps in the DeFi room.

Source: CoinTelegraph

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