We are pleased to announce that 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.
We have been working closely with Kava for many months now and partnered 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. We share many of the same goals with respect to expanding DeFi adoption globally. We have been working closely with the Kava team 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, we will be able to seamlessly integrate with one another via Inter-Blockchain Communication (IBC). Our 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 our decentralized derivatives.
We are continuously expanding the markets available on the Solstice Testnet. We launched Solstice with the following initial markets. A few days ago we also listed Alpha Finance, which is another prominent Binance IEO. Injective users will have the opportunity to trade limitless markets as we have shown with the addition of our very first synthetic commodity market.
During the first week of Solstice, we have received massive interest as demonstrated by rapidly increasing numbers on the Solstice waitlist. We have also reached the daily max cap of new users in under an hour. The Kava listing will allow our growing user base to access more diverse products on Solstice perpetual markets. We look forward to building momentum as we 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.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.