Cross-Chain DeFi Platform Kava’s First CDP Test Network To Be Launched On February 5th

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Kava is marketed as the Marker DAO on Cosmos and supports users to use more assets for their mortgage lending.
  • Kava aims to be the de facto DeFi platform by providing a decentralized lending platform and stablecoins compatible with significant crypto assets.
  • Kevin Davis, the chief engineer of the KAVA team, that this test would not support anchor testing of external assets.

As tweeted by Kava Labs, their first CDP testnet is ready for launch, which was a much-anticipated initiation, post their Launch of Kava testnet 1.1 in June 2019 and Kava testnet 2000 in July 2019.

1580453933783710

The launch set to officially be at 14:00 UTC, February 5 or 22:00 by Beijing time. And the tweet also consisted an attachment to the guide for the same-named Kava Testnet 4000. Further, all validators who wished to run the CDP Testnet were informed to go through the manual and submit their gentx.

Also, Kava is marketed as the Marker DAO on Cosmos and supports users to use more assets for their mortgage lending and also to generate stable currency USDX for leveraged trading and hedging risks.

The project token “Kava” is a governance and equity token, and the node validators would gain the right to vote on the chain and also take part in the community governance by pledged Kava tokens.

KAVA conducted an IEO on Binance Launchpad which helped raise $ 3 million by selling KAVA tokens in October last year which further boosted its cause as mentioned in the article

Kava aims to be the de facto DeFi platform by providing a decentralized lending platform and stablecoins compatible with significant crypto assets. As part of their relationship-building initiatives, Kava team welcomes applications for professionals who build Cosmos / DeFi interfaces to apply for the Kava Grants program.

Also mentioned by Kevin Davis, the chief engineer of the KAVA team, that this test would not support anchor testing of external assets. Therefore wishes to launch an external test network that would further support the function of anchor assets in the coming few weeks, which would also provide vulnerability bounty and a Reward program.

As communicated by the organization, the current objective of the CDP testnet would be to test the end-to-end CDP functions also taking into consideration the testing for bug identification and involving other features too.

Another inclusion would be testing governance functions such as adding and deleting assets and tuning parameters such as stabilization fees, and clearing penalties would be part of their overall objective.

After introducing the validator with the governance workflow, Kava plans to build the tools and interfaces as needed by the validator to properly manage the system and keep the users informed of any changes in the governance. These all would compile to the overall aim of the project.

We Recomaned

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners