share
Share on Twitter
Share on LinkedIn
Share on Telegram
copy link
copied link
Georgetown, Cayman Islands, August 28, 2023, Chainwire
Stargate, an omnichain liquidity layer and native asset bridge with over $18 billion lifetime transaction volume, has been deployed on top of Kava Chain, Cosmos-Ethereum’s interoperable Layer 1.
This integration will extend the reach of Tether’s Cosmos-native USDT, issued exclusively on the Kava chain, to the Ethereum ecosystem and beyond.
Stargate’s success in connecting Ethereum networks is demonstrated by its Total Value Locked (TVL) being 300 times higher than the second most common bridge. Deploying Stargate on the Kava chain provides decentralized finance (Defi) users with a secure and efficient way to move USDT between the Cosmos and Ethereum ecosystems.
The integration ensures that users from all Stargate chains have access to USDT on the Kava chain and every app chain on the Internet of Cosmos blockchains. Features like one-click transfers and swaps, combined with unified liquidity and instant guaranteed finality, make transferring USDT funds efficient and easy. Stargate’s native asset transaction capabilities provide a more direct and efficient connection to the Cosmos ecosystem.
“Since Kava Chain became the exclusive native USDt hub for Tether, the growth has been impressive with 90 million native USDT issued,” said Scott Stuart, co-founder of Kava Chain. “With the kava chain now at Stargate, private and institutional users who previously had limited access to certain features of kava now have an even broader range of options with USDT.”
Stargate’s involvement, combined with Kava Chain’s USDT integration, could drive growth, increase liquidity exposure, and open the Kava Chain and Cosmos ecosystems to more markets, which would increase usage.
About the kava chain
The Kava Chain is a secure, lightning-fast Layer 1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos on a single, scalable network. Committed to fostering innovation and growth, the kava chain has gained acceptance from creators and users worldwide.
Follow Kava Chain on X (formerly Twitter) for more updates.
About Stargate
Stargate is a fully composable liquidity transport protocol that is at the heart of Omnichain DeFi. Stargate allows users and dapps to transfer native assets across chains while accessing the protocol’s unified pools of liquidity with instant guaranteed finality.
Contact
media manager
Guillermo Carandini
kava
[email protected]
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any company-related action.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.