1/12/2024 0 Comments Binance usd usdtKava makes moving assets across chains fast and highly secure and provides users with an efficient mechanism for stablecoin liquidity provision and transfer.Īs a result, this integration could potentially catalyze a significant expansion of the DeFi economy on Cosmos, providing a compelling solution to the liquidity problem that has been challenging since the collapse of Terra’s UST in Q1 2022.ĭeploying Tether, a stablecoin with a strong market reputation and ~65% dominance, will also offer increased security and reliability to users and developers alike. Unlike external third-party bridge solutions which create fragmented pools of wrapped assets, with the launch of Kava 14, USDt natively issued on Kava can move between IBC and EVM blockchains via an ‘internal bridge’ with tight access controls and restrictions that greatly reduce attack vectors. Tether’s choice makes Kava a key support and a strong ally for Cosmos ecosystem projects building out the Internet of Blockchains.” “Our support for Tether’s USDt integration unlocks much-needed stablecoin liquidity across the Cosmos and EVM ecosystems. Native USDt brings Cosmos DApp and appchains and EVM DApp users a secure and universally adopted canonical stablecoin.Įxpressing his excitement for the successful integration, Scott Stuart, co-founder of Kava, said, With native USDt issued on Kava, the Cosmos ecosystem’s limited growth, fragmented liquidity and exaggerated volatility get addressed by the addition of natively issued USDt for users and developers. The integration of Tether’s USDt on Kava makes deep stablecoin liquidity across Cosmos’ IBC (inter-blockchain communication) and EVM (Ethereum virtual machine) ecosystems easily accessible. Tether’s USDt, the world’s most liquid, secure and transparent stablecoin, has successfully launched on Cosmos via Kava, marking a significant milestone in the expansion of the Cosmos DeFi ecosystem.
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