Kava Labs Teams Up With Nervos to Offer Cross-Chain Liquidity

Nervos will reportedly be integrating the Kava network with their cross-chain Force Bridge product to “enable the bridging of liquidity between Kava and Nervos.”

As explained in a blog post, the integration will allow for “the movement of native assets between the chains, giving $CKB holders new ways to use it on the Kava platform and bringing Kava to dApps on the Nervos network.”

What to Expect

Initially, the partnership will primarily focus on integrating Kava with Force Bridge “shortly after Kava’s EVM support is launched in 2022.” This will connect the Kava and Nervos chains, “allowing for assets to be bridged easily between the chains,” the update noted.

Scott Stuart, Kava Labs CEO stated:

“At Kava Labs, we believe that giving users seamless experiences through cross-chain interoperability is what will drive the future of DeFi. Nervos is making huge strides with Force Bridge and Universal Passport, so we are very excited to be partnering with them on this.”

After the integration is in place, the partnership will also “support the listing of wrapped $CKB on Kava Swap, with additional liquidity incentives at launch.”

In addition, Nervos’ decentralized exchange — Yokai — will also “list wrapped $KAVA as a tradable asset,” the announcement revealed.

In the future, Kava may explore “adding $CKB to the Kava Mint or Kava Lend protocols as well.”

As Kava continues to pursue a goal of enhanced interoperability in 2022, the partnership with Nervos will “undoubtedly explore additional ways to drive cross-chain liquidity between the two networks,” the update noted.

Kevin Wang, co-founder of Nervos, remarked:

“We’re building solutions and tools to support the next generation of DeFi projects. Kava Labs shares our vision for a truly interoperable blockchain system, so we’re excited to integrate with the network and provide new opportunities for our community to engage with other ecosystem partners and projects.”

As noted in the announcement, decentralized finance (DeFi) is set for tremendous growth over the next few years, “but scalability issues, such as network congestion and high gas fees, plague the space.”

With a host of multi-chain tools and solutions now available for testing on mainnet and more services on the horizon, Nervos is “aiming to become the next major DeFi ecosystem in the blockchain space.”

Nervos offers “a secure, scalable platform for burgeoning DeFi developers to launch new projects or port their existing dApps over to the network easily and without changing their codebase.”

As mentioned in the update, Kava Labs is the “primary contributor to the Kava Network and a suite of DeFi protocols powered by it.”

The mission of Kava Labs is to “create a secure, scalable home for the future of decentralized finance (DeFi) through a combination of powerful Layer-1 architecture, institutional-grade security, and user experience-driven design.”

Register Now to Attend
Sponsored Links by DQ Promote



Send this to a friend