Tether’s world’s most liquid, secure and transparent stablecoin, USDT, has been successfully launched on Cosmos via Kava as a major milestone in the expansion of the Cosmos DeFi ecosystem.
The integration of Tether’s USDT into Kava provides deep stablecoin liquidity that is easily accessible in Cosmos’ Cross-Block Communication (IBC) and Ethereum Virtual Machine (EVM) ecosystems. With native USDT issued on Kava, the limited growth, fragmented liquidity and exaggerated volatility of the Cosmos ecosystem are offset by the addition of locally issued USDT for users and developers.
Native USDT brings a secure and universally adopted canonical stablecoin to Cosmos dApp and appchains and EVM dApp users.
Kava Co-Founder Scott Stuart expressed his excitement over the successful integration: “Our support for Tether’s USDT integration unlocks much-needed stablecoin liquidity in the Cosmos and EVM ecosystems. Tether’s choice makes Kava an important support and a strong ally for Cosmos.”
Unlike external third-party bridge solutions that create fragmented pools of wrapped assets, with the release of Kava 14, USDT issued locally on Kava moves between the IBC and EVM blockchains via an “internal bridge” with strict access controls and restrictions, which greatly mitigates the attack. can. Kava moves assets between chains quickly and extremely securely, providing users with an efficient mechanism for providing and transferring stablecoin liquidity.
As a result, this integration could potentially catalyze the significant expansion of the DeFi economy in Cosmos and provide a compelling solution to the liquidity problem that has been plaguing since the collapse of Terra’s UST in the first quarter of 2022. It will also offer greater security and reliability to both users and developers.
Tether CTO Paolo Ardoino said, “The Kava network is a unique and widely followed blockchain with a solid four-year track record with zero security issues necessary to protect USDT users. Together, we aim to reshape the future of decentralized finance by fostering a robust and inclusive ecosystem that benefits users around the world.”
About Kava
Kava (kava.io) 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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