PRESS RELEASE. AscendEX, a global trading platform for digital assets with a comprehensive suite of products, is pleased to announce the listing of the Kava Swap Token (SWP) under the pair USDT / SWP on August 31 at 1 p.m. UTC. In celebration of the SWP listing, AscendEX will partner with the team at Kava Swap to launch two limited time promotional events running from August 31st, 1:00 am UTC to September 7th, 12:00 pm UTC. By completing assignments and executing trades, users are given the opportunity to share pooled rewards worth up to USDT 90,000!
coffee focuses on democratizing financial services and making them accessible to everyone anywhere in the world. Kava Chain is a decentralized, permissionless, censorship-resistant blockchain created with the Cosmos SDK. This means that it works similarly to other blockchains in the Cosmos ecosystem and is designed to be interoperable with other chains.
Kava.io is the first cross-chain Decentralized Finance (DeFi) hub that provides applications and services for the world’s largest cryptocurrencies. Kava’s platform acts as a decentralized digital asset bank, connecting users to products like stablecoins, loans, and interest-bearing accounts so they can do more and earn more with their digital assets. For example, serers can deposit their digital assets and use them as collateral to borrow Kava’s crypto-backed stablecoin USDX. The native swap token (SWP), which hits the market on Monday, August 30th, allows users to swap and interact with multiple assets across different chains.
Kava Swap is a cross-chain liquidity hub for all DeFi apps and financial services. Its purpose is to enable the aggregation of capital where it can then be deployed seamlessly across different blockchain ecosystems, DeFi apps and financial services. At its core, Kava Swap is a cross-chain Autonomous Market Making (AMM) protocol that leverages the DeFi infrastructure, cross-chain bridges, and the security of the Kava platform. Kava Swap gives users a seamless way to swap between assets of different blockchains and put their capital into market making pools where they can get nice returns.
The Kava protocol is a set of rules and behaviors that are built into the Kava chain and enable advanced DeFi functions such as permit-free borrowing and lending. As with most Cosmos ecosystem blockchains, the automated transaction behavior known as “smart contracts” is hard-coded into the protocol. They are referred to as “modules” in the cosmos ecosystem. The Kava app uses a special module called CDP. Hard Protocol is an application that runs on Kava Chain. It doesn’t have its own blockchain. It builds on the Kava protocol and adds new features, adding an autonomous money market protocol to the Kava ecosystem.
The HARD token is a unique token in the Kava chain. It is given as a reward for providing and borrowing in the hard app. KAVA, the native token of the KAVA protocol, is used as a Proof of Stake (POS) staking asset that ensures the finality and security of credits on the protocol and also acts as the “Lender of Last Resort” in certain situations. The Kava chain is secured by its native token KAVA and is used as a means of transport and store of value throughout the chain. It is given as a reward for minting USDX in the Kava app. USDX is a stable coin that is loosely pegged to the US dollar. It is minted when a Kava CDP is opened. KAVA, SWP and HARD are all governance tokens, which means that holders can vote on the rules and proposed new features of the protocols.
AscendEX is a global cryptocurrency financial platform with a comprehensive suite of products including Job, edgeand futures trading, wallet services and Mark out Support for over 150 blockchain projects such as Bitcoin, Ether and Ripple. AscendEX was founded in 2018 and serves over 1 million private and institutional customers worldwide with a highly liquid trading platform and secure custody solutions. AscendEX has evolved from ROI into a premier platform for its “first-time listing” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake and Serum. AscendEX users get exclusive access to token airdrops and the ability to purchase tokens at the earliest possible opportunity. To learn more about how AscendEX is leveraging Wall Street and cryptocurrency ecosystem best practices to deliver the best altcoins to its users, please visit www.AscendEX.com.
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About Kava Swap
Kava Labs is focused on democratizing financial services and making them openly available to everyone, anywhere in the world. Kava is the first cross-chain Decentralized Finance (DeFi) hub that provides applications and services for the world’s largest cryptocurrencies. Kava’s platform acts as a decentralized digital asset bank, connecting users to products like stablecoins, loans, and interest-bearing accounts so they can do more and earn more with their digital assets.
For more information and updates, visit:
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