$0.0974
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24H
1.70%$0.0016
7D
6.31%$0.0058
Kava describes itself as a decentralized financial services platform. Kava’s principle product is a DeFi lending platform for cryptocurrencies.
Although the Bitcoin blockchain lacks the infrastructural model to enable interoperability and power a DeFi landscape like Ethereum, the asset is increasingly being used to provide liquidity in the DeFi market.
The unveiling of Build for Bharat is one of the ways Binance CEO CZ intends to extend his presence in the new booming DeFi sector.
Binance’s staking platform for DeFi will allow users to participate in different events by voting through a Proof-of-Stake model. Through staking, users get to earn passive rewards for locking their crypto.
Ongoing developments in the cryptocurrency space have made this industry more appealing to investors. Finding the hidden gems in the space can give users a chance to unlock tremendous profit potential. Interoperability is the next big trend worth keeping an eye on.
Investors and the media have focused on selected DeFi projects because of their volatile rise in valuation. The likes of Compound are expected to remain at the center of discussion.