Kava, a Tier-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos, has launched the Kava 14 upgrade. This upgrade uses ‘internal bridge’ technology to seamlessly convert native Cosmos assets to Ethereum’s ERC20 token standard.
Kava 14 is one of the milestones under construction. In early July, Tether announced its decision to make Kava a gateway for issuing local USDt on Cosmos.
With the release of Kava 14, USDt can now be minted in Cosmos and easily converted from crypto to USDt on all other L1s including Bitcoin (Omni & Liquid protocol), Ethereum, TRON networks and more.
“In the first few days of Kava launching the official Tether integration, more USDt was issued in Cosmos than Polkadot and Near combined,” said Kava Co-Founder Scott Stuart.
“It’s clear that people want cross-chain USDt. I am optimistic that having a native stablecoin through the Kava 14 upgrade and a safe and reliable way to convert it across chains will eventually unlock the incredible technology 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 in the Cosmos ecosystem.
Meanwhile, Curve Finance’s launch of USDt liquidity pool offers a decentralized alternative for experienced users. In parallel, Stargate, the top omnichain liquidity tier, will be launched on Kava in anticipation of increased usage and liquidity. This expansion follows a governance proposal that plans to expand the scope of the Kava Rise incentive fund.
The Kava 14 upgrade is a leap forward for Cosmos DeFi creators and users, providing a safer, safer, and more reliable method of converting assets to and from the Cosmos ecosystem.
For more information and updates on the mainnet launch of Kava 14, take to Twitter. @KAVA_CHAINfollow .
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. Dedicated to fostering innovation and growth, Kava is the trusted choice for developers and users worldwide.
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