As an exciting update for the community, Injective will be listing Kava on the Solstice Testnet! Starting from Day 8 of the Solstice, all early access users will be able to trade KAVA perpetual markets with up to 20x leverage.
Injective contributors have been working closely with Kava for many months now and collaborated with them earlier this year to unlock new forms of derivatives products. Both Kava and Injective serve key roles in further developing the Binance ecosystem and have both successfully completed IEOs on Binance. Both share many of the same goals with respect to expanding DeFi adoption globally and have been collaborating closely to create a more diversified derivatives ecosystem.
Kava is one of the largest DeFi lending platforms built on Cosmos and enables users to earn yield on their crypto holdings. Since both Injective and Kava are built with the Cosmos SDK, both will be able to seamlessly integrate with one another via Inter-Blockchain Communication (IBC). The current plan is to leverage the IBC protocol to connect with Kava to solve cross-chain interactions effectively as well as use the interoperability to increase the use cases of Kava via Injective's decentralized derivatives.
Injective is continuously expanding the markets available on the Solstice Testnet. Solstice launched with the following initial markets and a few days ago Alpha Finance was also listed, which is another prominent Binance IEO. Injective users will have the opportunity to trade limitless markets as has been shown with the addition of the very first synthetic commodity market.
During the first week of Solstice, massive interest has surged as demonstrated by rapidly increasing numbers on the Solstice waitlist. The daily max cap of new users was also reached in under an hour. The Kava listing will allow the growing user base to access more diverse products on Solstice perpetual markets. The community will continue to deliver fully decentralized cross-chain derivatives trading while introducing new derivative products globally.
Kava is the first decentralized layer one hub for cross-chain DeFi applications and services and is dedicated to providing applications and developers with a permanent financial services infrastructure. The Kava lending platform and the world’s first cross-chain money market application HARD Protocol built on Kava blockchain combine to create a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn with their digital assets.
Injective is the first cross-chain protocol built for decentralized finance applications. On the Injective exchange, anyone can access, create, and trade unlimited DeFi markets such as futures and perpetuals. Developers can also build cross-chain Ethereum-compatible projects that are lightning fast and achieve instant transaction finality. Injective is backed by a prominent group of stakeholders including Binance, Pantera Capital and Mark Cuban.