[Press Release – Georgetown, Cayman Islands, July 12th, 2023]
Kava, a Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos has launched the Kava 14 upgrade. This upgrade deploys ‘internal bridge’ technology to seamlessly convert native Cosmos assets to and from Ethereum’s ERC20 token standard.
Kava 14 is one of a cluster of milestones in the making. In early July, Tether announced it’s decision to make Kava the gateway for issuing native USDt on Cosmos. With the launch of Kava 14, USDt can now be minted and easily converted on Cosmos, to — and from — USDt on every other L1 with native USDt including the: Bitcoin (Omni & Liquid protocol), Ethereum, TRON networks, and more.
“Within the first few days of Kava launching the official Tether integration, more USDt has been issued on Cosmos than on Polkadot and Near combined,” said Scott Stuart, Kava Co-Founder. “It’s clear that people want USDt on the interchain. I’m optimistic that having a native stablecoin and a safe, reliable way to convert it across chains via the Kava 14 upgrade will finally unlock the incredible tech the Cosmos ecosystem has built.”
Kava Gains Momentum
Following Tether’s July announcement, Kucoin now supports Kava’s Cosmos and EVM networks, providing a reliable CEX for user transactions within the Cosmos ecosystem. Meanwhile, Curve Finance’s launch of a USDt liquidity pool offers a decentralized alternative for experienced users. In parallel, Stargate, a top omnichain liquidity layer, is set to launch on Kava, anticipating increased usage and liquidity. This expansion comes after a governance proposal that plans to widen the scope of the Kava Rise incentive fund.
The Kava 14 upgrade is a leap forward for Cosmos DeFi builders and users providing a safer, more secure, and more reliable method for converting assets to and from the Cosmos ecosystem.
Follow @KAVA_CHAIN on Twitter for more information and updates on Kava 14’s mainnet launch.
About Kava
Kava is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, Kava is a trusted choice for developers and users worldwide.
For more updates, follow Kava on Twitter.
Disclaimer
This press release is not an offer to sell or the solicitation of an offer to buy USDt or KAVA tokens.
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