Kava – 5 Launch Scheduled For Today, After Bug Halts Previous Attempt

According to their announcement on Twitter, Kava labs will be launching its Kava 5 testnet today, April 8th, at 15:00 UTC. 

The platform will have a feature-packed product roadmap that includes at least two native applications and tokens and decentralized bridges to onboard large cross-chain crypto assets. 

The launch on March 6th was halted due to a bug to address an inflation bug that over-distributed yield farming rewards. After overcoming this hiccup, it seems like Kava is back on its tracks. The new set of features reinforces the existing security and safety measures for all of Kava’s decentralized financial applications and services. The Kava DeFi platform has planned 4-month release cycles targeted for 2021.

What To Expect From Kava 5

Version 2 of HARD Protocol will include borrowing with variable interest rates. HARD will be distributed to asset suppliers and borrowers. HARD governance enhancements will help update the HARD community more protocol parameters quickly. 

Kava’s usage in 2020 rose significantly, and thus software optimizations are due, enabling validators to validate blocks on time. The team will also make tweaks to improve system performance based on production data.

Kava Cloud infrastructure will run services such as cross-chain claim and refund bots, app front-ends, price reference software, Full nodes, historical nodes, REST, and API endpoints. Other services such as significant enhancements in standardization, security, monitoring, and alerting tools have been added to Kava Cloud services, driving infrastructural and end-user services. 

What To Expect From Kava 6

Kava 6 will release an AMM service and application. This will serve as an on-chain liquidity pool for Kava users to swap various assets on Kava and use them in other financial services.

The team will be proposing the Kava SAFU fund to administer an additional degree of protection to Kava users by insuring and underwriting some portion of the infrastructure and cross-chain activities on Kava.

KAVA staking derivative, an asset from KAVA, is staked for PoS security and will allow more derivative liquidity to be used in financial services on the ecosystem. KAVA will not be foregoing security and rewards offered by the PoS staking. 

To ensure the safety of users’ funds, the team will be using risk management optimizations, including Tendermint mempool queuing and prioritization of critical services in the mempool. 

What To Expect From Kava 7

The Kava 7 release will see a Robo Advisor service and application to help automate strategies among the services offered on Kava. It will also help increase user onboarding by opening a larger pool of Kava users to participate in yield-generating strategies. 

To onboard native Ethereum assets, a direct Ethereum bridge to Kava will be released. Many users requested the ability to move Ethereum assets directly onto Kava, and this bridge is designed to help them do so and be their service of choice. 

Cross-chain Bridges And Kava API

So far, Kava has moved over $100 million in asset value automatically between Binance Chain and Kava. Users have requested a similar technology for Ethereum assets as well. Kava will deliver this in Kava 6, giving project partners Ethereum access to Kava decentralized financial applications and services.

KAva API will be released as a standardized plugin for app developers and financial institutions to unlock DeFi services for their users. Prototypes have already been successfully integrated with partners like Binance and Bitmax.io. The team aims to have many more business integrations in 2021. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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