Kava 14 Upgrade Unleashes Seamless Asset Conversion on Cosmos

The Kava 14 update was been released by Kava, a Layer-1 blockchain that combines the development capabilities of Ethereum with the speed and interoperability of Cosmos. The novel “internal bridge” mechanism introduced by this upgrade makes it possible to convert native Cosmos assets to Ethereum’s ERC20 token standard without any hiccups.

Empowering the Cosmos Ecosystem

The Kava 14 update is a significant development, especially in light of Tether’s recent announcement that Kava would serve as the gateway for issuing native USDt on the Cosmos network. Tether is a well-known stablecoin issuer. With the release of Kava 14, it is now possible to mint and easily convert USDt on Cosmos. This enables frictionless transactions between several Layer-1 networks that accept native USDt, such as Bitcoin (Omni & Liquid protocol), Ethereum, TRON, and others.

Scott Stuart, Co-Founder of Kava, expressed his excitement about the official Tether integration, stating, “Within the first few days of Kava launching the official Tether integration, more USDt has been issued on Cosmos than on Polkadot and Near combined.” He added, “It’s clear that people want USDt on the interchain. I’m optimistic that having a native stablecoin and a safe, reliable way to convert it across chains via the Kava 14 upgrade will finally unlock the incredible tech the Cosmos ecosystem has built.”

Gaining Momentum in the Cosmos Ecosystem

A well-known cryptocurrency exchange, Kucoin, has recently added support for Kava’s Cosmos and EVM networks in response to Tether’s statement. Users now have a dependable centralized exchange (CEX) alternative for carrying out transactions inside the Cosmos ecosystem thanks to this improvement. Additionally, Curve Finance, a decentralized finance (DeFi) network, has introduced a USDt liquidity pool, giving knowledgeable users looking for liquidity choices a decentralized alternative. Stargate, a top omnichain liquidity layer, is also getting ready to debut on Kava and anticipates a surge in usage and liquidity. This extension comes after a governance proposal intended to increase the Kava Rise incentive fund’s reach.

For DeFi users and builders within the Cosmos ecosystem, the Kava 14 version offers a substantial advancement. Kava lays the door for improved DeFi capabilities on Cosmos by delivering a better, more secure, more dependable means for converting assets to and from the Cosmos network.