Kava to release cross-chain money market on blockchain
Decentralized finance, or DeFi, platform Kava announced its intention to host a cross-chain money market on its Cosmos blockchain to capitalize on DeFi opportunities. Kava said in a statement on its website that it wants to build an application called Harvest that will enable users to borrow or lend digital assets, including BTC, CRP, BNB, BUSD, KAVA, and USDX.
Harvest will integrate Kava price-reference data from Chainlink to facilitate cross-chain transfers. He said: “Importantly, this foundation provides developers with the ability to quickly build applications on Kava’s open decentralized network while being able to leverage its security, cross-chain bridges, and other infrastructure that would otherwise cost millions and take years to develop independently.”