Kava Chain is a decentralized, open-source, permissionless, censorship-resistant public blockchain built using the Cosmos SDK. In addition to the interoperability feature like other blockchains within the Cosmos ecosystem, the Kava Chain also includes Kava EVM for Ethereum compatibility, letting developers deploy their Ethereum-based dApps on its infrastructure conveniently.
The Kava blockchain offers a high throughput and low transaction fees and is a promising blockchain to develop and power the Web3 revolution. The Kava Protocol - a set of rules programmed into the blockchain, also supports advanced DeFi functionality on Kava, making it an attractive platform for decentralized finance.
Kava supports smart contracts by using modules known as CDP hardcoded into its protocol. CDP, short for Collateralised Debt Position, is a new automated loan contract that lets users use crypto assets as collateral to mint stablecoins on the blockchain.
$KAVA is one of two native crypto assets of the Kava Chain, the other being $HARD. KAVA serves as the governance token of the network and can also be staked on the Proof of Stake (PoS) blockchain to contribute to its consensus mechanism and security.