— The Kava Platform (@kava_platform) December 1, 2021
First, Kava’s $185 million Ignition Fund will help Formation Fi to improve their DeFi capabilities. Specifically, they want to do more in lending and fundamental cross-chain swaps. Furthermore, they will offer users inexpensive costs and appealing incentives, all at high speeds.
The Ignition Fund of the Kava Ecosystem funds best-in-class DeFi projects. The goal is to develop the most secure and completely scalable platforms. This bridges the gap between early adopters and mainstream DeFi consumers. It’s the first stage in Kava’s big plan to shape DeFi’s future by concentrating on the user experience. Ignition funds cover development expenses. Also, it offers liquidity at launch. So this way top-tier projects are not pushed to market with security or user experience issues. Formation.Fi is the newest member of this fast-expanding ecosystem.
Formation Fi enables customers to:
- earn high DeFi yields
- and automate cross-chain yield portfolio management.
In fact, the collaboration with Kava will allow Formation.Fi users to use Kava’s strong yield farming capabilities. Also, it will bring new streams of liquidity to the Kava ecosystem. Lastly, Formation Fi’s native token ($FORM) will be launched on Kava through the forthcoming Kava Launchpad.
Kava Lab’s CEO is Scott Stuart. He said that Formation.Fi has done an outstanding job of creating automated portfolio management for DeFi’s high-yield opportunities. He also stated that Kava has some of the highest returns in the industry. Above all, they see integrating Formation.Fi brings the earning power of Kava to their users.
Kava is a Cosmos-based blockchain. It is a DeFi platform that allows its users to borrow and lend assets without the need for a typical financial middleman. While most DeFi projects operate on Ethereum, Kava operates on Cosmos. Users of this platform may borrow loans denominated in USDX, by locking coins into smart contracts on Cosmos. USDX is an algorithmic stablecoin. Its goal is price stability against the value of the US dollar.
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