Investing In Cosmos - Kava Network: %143 APR

image.png

I've been studying the Cosmos ecosystem for a few days now. My impression is that it is undervalued in terms of pricing. Currently, Cosmos is the 21st most valuable coin. I think there is a possibility for Cosmos to enter the top ten in 2022.

Cosmos describes itself as the internet of blockchains. Based on the connotation of its name, we can think of Cosmos as a structure that encompasses the crypto universe. At least that's what the claim is. We can think of other blockchains as galaxies and each token produced within the blockchains as stars. Another blockchain that claims to allow blockchains to work together is Polkadot. I won't go into what the differences are between them, as it's not my area of ​​expertise. Just as I prefer Ethereum to Bitcoin, I also prefer Cosmos to Polkadot.

On Saturday, I wrote about the Osmo blockchain in the Cosmos ecosystem. In today's article, I would like to talk about an investment I made in Kava Network.

Kava Network is a project that acts as a bridge between Ethereum and Cosmos. It aims to bring together the good features of both ecosystems. Currently, the Kava coin is ranked 145th by market cap.

https://app.kava.io/, the DEFI app of the Kava blockchain has functionalities such as Lending, DEX, and algorithmic stable coin. Currently, very satisfactory returns are offered in liquidity pools. It is possible to think of Kava application as a finance hub. USDX is the platform's algorithmic stable coin. The Hard coin is for the landing function, and SWP is the coin of the swap function. Kava Network's governance coin is Kava.

image.png

I moved my money, which I previously held in the BNB-BUSD liquidity pool in the BSC ecosystem, to the Kava platform. The BNB-USDX liquidity pool is still has a 143% APY. Seems like a pretty attractive rate to me. Kava has passed the CeltiK audit, hence it's better to be cautious.

The Kava app is used through the Keplr wallet. First of all, I bought Kava on Binance. I chose the Kava blockchain in my Keplr wallet and copied my account number. Binance supports Kava Network transfers. Therefore, it was enough to paste the account number I copied into the relevant field on the Binance website.

In the Kava app, I sold my Kava and converted it to USDX. I converted half of USDXs to BNB. Thus, I uploaded the coins to the relevant liquidity pool. Kava coins have had a stable price in recent months. I will earn SWP from the liquidity pool. However, we are currently unable to withdraw the SWPs we have won. We have to wait until April 1st. I hope when that day comes, they won't say we made an April Fool's joke.

By the way, the frequent airdrops on this network have had a huge impact on my interest in the Cosmos ecosystem. Finally, I was able to reach detailed information about the conditions of the airdrops that will take place in the upcoming period: Link

It looks like we need to buy Cosmos and Juna and stake them using Keplr wallet to qualify for the airdrop.

Thank you for reading.



0
0
0.000
4 comments
avatar

Congratulations @muratkbesiroglu! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You received more than 280000 upvotes.
Your next target is to reach 290000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Hive Power Up Month - Feedback from February day 20
Support the HiveBuzz project. Vote for our proposal!
0
0
0.000
avatar

I own some for a few months now. That spreadsheet is really useful! Thanks!

0
0
0.000
avatar

Glad to know about Kava Network and it's facilities. Indeed a very good offer and sounds really very profitable.

0
0
0.000