What is Kava Lend?
Hard Protocol, also known as Kava Lend, is a decentralized finance market built on the Kava Chain, a blockchain that operates on the Cosmos network. The Kava Chain offers advanced borrowing and lending services to its users, and the Hard Protocol builds upon the Kava Protocol to provide additional functionality, including an autonomous money market protocol that is interoperable between different chains.
Users can participate in Kava Lend by supplying digital assets such as BTC, XRP, BNB, BUSD, and USDX, borrowing assets using digital assets as collateral, or earning Hard tokens. The Hard tokens act as the governing token for the platform and give holders a voice in decision making, such as determining assets to be offered, rewards given, and fees charged to users. Holders of HARD tokens can receive more tokens by claiming them for longer periods, and KAVA stakers are compensated for the security and cross-chain infrastructure provided by the Kava Platform.
Kava Lend is an open, permissionless platform accessible to anyone, anywhere in the world. It is expected to be easily integrated with other fintech apps, financial institutions, and exchanges in the future.
Hard Protocol was developed by Kava Labs in 2020 and was originally named harvest.io. The name was changed to Hard Protocol to avoid confusion with other similar platforms. Kava Labs was founded by Brian Kerr and Scott Stuart in 2017. As of December 21, 2021, HARD has a circulating supply of 96,666,667 tokens and a market cap of $66,823,483, reaching an all-time high of $3 on March 17, 2021 and an all-time low of $0.381 on November 14, 2020.
The Hard Protocol, formerly known as Kava Lend, is a decentralized finance (DeFi) platform that operates on the Kava Chain, a permissionless and censorship-resistant blockchain built on the Cosmos network. The Hard Protocol adds new functionality to the Kava Protocol and enables advanced borrowing and lending services to its users.
With the Hard Protocol, users can supply digital assets such as BTC, XRP, BNB, BUSD, and USDX, and earn interest on their deposits. Borrowers can use their digital assets as collateral to obtain other assets. Suppliers and borrowers earn Hard tokens, which serve as the governing token for the platform and give holders a voice in decisions such as which assets to offer, reward structures, and fee structures.
The Hard Protocol is designed to be interoperable between multiple chains, making it accessible to a wider range of users. It is an open, permissionless application that is accessible from anywhere in the world. In the future, other financial institutions and fintech apps are expected to integrate with the Hard Protocol’s money market products.
Hard Protocol was developed by Kava Labs in 2020, and the name was changed from Harvest.io to eliminate confusion with other similar DeFi platforms. The token HARD reached an all-time high price of $3 on March 17, 2021, and a circulating supply of $96,666,667 tokens with a market cap of $66,823,483 as of December 21, 2021. Kava Labs was founded by Brian Kerr and Scott Stuart in 2017.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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