Table of Contents
What Is Kava?
Kava is a Layer-1 blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum.
The Kava Network uses a developer-optimized co-chain architecture. The Ethereum Co-Chain enables support for EVM smart contracts, while the Cosmos Co-Chain enables the lightning-fast Tendermint consensus engine and the Inter Blockchain Communication Protocol (IBC).
The two co-chains are connected by a translator module that enables them to interoperate seamlessly, bringing the two most used blockchain development environments together in a single, scalable network.
The Kava Network features a native governance and utility token, KAVA, that can be staked by validators or delegated to validator nodes. Stakers and delegators earn 37.5% of all KAVA emissions as a reward for securing the network. Kava stakers also have voting rights in network governance proposals.
Who Are the Founders of Kava?
Kava Labs is the primary contributing team to the Kava Network. The company’s mission is to establish the Kava Network as a top-five Layer-1 blockchain by properly empowering and incentivizing the developers that drive growth and usage for Layer-1 ecosystems.
Kava Labs was co-founded by Brian Kerr, Ruaridh O’Donnell, and Scott Stuart.
The current CEO of Kava Labs is Scott Stuart, a former professional poker player, and serial entrepreneur. Scott served as the Head of Product for Kava Labs from 2017 to 2021, when he took over as CEO from Brian Kerr.
Brian Kerr previously worked as an advisor for several digital asset-focused companies, including Snowball and DMarket.
Ruaridh O’Donnell is an MSc Physics graduate and former engineer and data analyst at Level work.
Kava Labs has approximately 40 full-time employees distributed across North America, Asia, and Europe.
What Makes Kava Unique?
The Kava Network utilizes a developer-optimized co-chain architecture that delivers the development power of Ethereum and the scalability, interoperability and low transaction fees of Cosmos in a single network.
The Kava Network empowers developers with: *Flexible Deployment: Developers can build and deploy on either of the two most used permissionless execution environments using the EVM-compatible Ethereum Co-Chain or the Cosmos Co-Chain.
- On-Chain Incentives: A transparent and decentralized on-chain incentive model ensures that the best developers and projects in every Web3 vertical (including DeFi, GameFi, and NFTs) are rewarded for their contributions with a proportional share of the value and governance of the network.
- Seamless Interoperability: Developers can deploy Solidity smart contracts that interoperate seamlessly with Cosmos SDK protocols in the same network, connecting their project to every major asset and millions of users.
How Many Kava (KAVA) Coins Are There in Circulation?
As of March 2022, there are ~158 million KAVA tokens in circulation, out of a currently uncapped maximum supply of tokens. Since KAVA is inflationary, the maximum supply increases over time.
All vesting KAVA has been unlocked, so no remaining investor or team unlocks are available. All newly emitted KAVA derived from inflation goes to developer incentives and staking rewards:
- 62.5% to developer incentives
- 37.5% to staking rewards
The KAVA token was first launched in 2019 following several private sales and a Binance Launchpad initial exchange offering (IEO). As a result, 40% of the initial KAVA tokens were sold to private sale investors, with 6.52% of the total supply sold on Binance Launchpad — raising ~$3 million.
Of the remaining initial KAVA token supply, 25% was allocated to Kava Labs shareholders, and the final 28.48% was assigned to the Kava Treasury — to be used for growing the Kava ecosystem.
How Is the Kava Network Secured?
Kava is built on Cosmos and uses a Tendermint-based proof-of-stake (POS) consensus mechanism to ensure the integrity of the network.
This uses a network of validator nodes for confirming transactions. These validator nodes must put up collateral to take up the duty of validating transactions. If validators misbehave or fail to meet rigorous minimum requirements, their stake will be penalized, incentivizing validators to remain honest and efficient.
Kava holders can run a staking node to earn KAVA rewards directly from the protocol. However, only the top 100 Kava nodes (also known as validators) are eligible to receive these rewards. Beyond this, KAVA holders can stake their tokens on various compatible exchange platforms, like Binance, Kraken, Huobi Pool, and in wallets like Trust Wallet, Cosmostation Wallet, and Kepler.
Multiple independent blockchains and crypto security firms have audited Kava’s smart contracts, including CertiK, B-Harvest, and Quantstamp. To date, no vulnerabilities have been found.
The KavaDAO is a fully decentralized autonomous organization (DAO) governing the Kava Network. KAVA stakers and validators secure and run the network; thus, their responsibility is to table and vote on proposals that affect the Kava Network.
These changes can include smart contract modifications, adjustments to the global debt limit, and the addition or removal of collateral assets, among other considerations.
Where Can You Buy Kava (KAVA)?
KAVA tokens can be traded on over a dozen exchange platforms. In addition, there are now many KAVA trading pairs available, the most popular of which include: KAVA/USDT, KAVA/BTC, and KAVA/BNB.