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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Kava to Add IBC with Jan-19 Mainnet Upgrade

January 12, 2022 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Jan 12, 2022--

Kava, an open-source Layer-1 blockchain and DeFi ecosystem, will implement Cosmos’ IBC protocol in its Kava 9 mainnet upgrade on January 19th.

Kava, a Cosmos SDK-based Layer-1 blockchain with a growing ecosystem of protocols, will be launching its Kava 9 mainnet upgrade at 16:00 UTC on January 19, 2022. The upgrade will bring a number of significant changes to the network, including the addition of the Inter-Blockchain Communication Protocol (IBC).

With IBC enabled, holders of $ATOM, $UST, $LUNA, $OSMO, and other IBC-enabled assets will be able to make use of Kava’s industry-leading CDP and lending products – a first for the Cosmos ecosystem. In addition, native Kava assets ($KAVA, $HARD, $SWP) will be able to move off the Kava chain to be used and traded on other chains.

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Kava 9 is also implementing several core infrastructural changes in preparation for the development and integration of a planned Ethereum bridge and EVM support in H1 of 2022. In addition, the mainnet upgrade will add launchpad functionality to drive liquidity for new tokens launching on the network and an expanded suite of developer tools.

You can find out more about the upgrade and its implications for Kava here: https://www.kava.io/kava-9

About Kava

Kava ( https://kava.io ) is a secure, highly scalable Layer-1 network and ecosystem built using the Cosmos SDK. Featuring institutional-grade security and a unique user interface, Kava was built to unlock the value of DeFi for mainstream users by providing a trusted home for best-in-class DeFi services that can scale to meet global demand.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220112005396/en/

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CONTACT: Martin Allen Frosage

+1.650.489.5124

kava@kava.io

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY BANKING OTHER TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE INTERNET DATA MANAGEMENT OTHER PROFESSIONAL SERVICES

SOURCE: Kava

Copyright Business Wire 2022.

PUB: 01/12/2022 09:05 AM/DISC: 01/12/2022 09:06 AM

http://www.businesswire.com/news/home/20220112005396/en