May 27 ·3 min read On June 10th, Kava’s DeFi lending platform will launch, making DeFi available for the first time to BNB holders.Kava’s lending platform will feature connectivity with Binance Chain enabling BNB users to use their BNB as collateral to mint USDX stablecoin loans.To accelerate the user growth of the platform the Kava community is offering an unparalleled opportunity to earn by staking BNB on Kava’s DeFi lending platform and minting USDX.A total of 3,848,000 KAVA from Kava’s “ User Growth Fund ” will be given directly to BNB holders that participate by staking BNB and minting USDX.Everyweek, for 52 weeks, USDX minters will earn 74,000 KAVA distributed ratably by the amount of USDX minted by BNB holders.“We are excited that BNB users can now get access to DeFi products with Kava’s lending platform.By accepting BNB as collateral on its lending platform, Kava is creating another use case for BNB, which brings additional value for BNB users.” “The Kava community is providing KAVA rewards to the initial users that stake BNB, enabling BNB users to take part in the on-chain governance on the Proof-of-Stake based Kava platform.” — Changpeng Zhao (CZ), Binance CEO and Founder,.
Kava’s BNB Rewards Below is a list of annualized BNB yields based on the total amount of BNB staked and USDX minted in Kava.It assumes all BNB stakers mint the same ratio of USDX.If you mint more USDX you will earn more.Annualized yields by total amount of staked BNB and USDX minting At lower total amounts of staked BNB the annualized yields are exceptionally rich and become more modest as total staking levels increase.This can be thought of as a premium earned for being an earlier contributor to the network, as more BNB holders contribute that premium diminishes.The rewards will be distributed on-chain each week to participants.All KAVA received as rewards is immediately stake-able giving holders the right to earn interest and vote.
Rewards have a transfer restriction for the first 52 weeks.
To learn more about the reward program click here .
Important Dates June 10th, 2020 at 14:00 UTC: Kava DeFi Lending platform launches enabling the first BNB deposits for USDX minting.June 17th, 2020 at 14:00 UTC: First on-chain calculations for rewards start for USDX minters.#CryptoPayDay will occur each following Wednesday at 14:00 UTC where 74,000 KAVA per week will be distributed to USDX minters.#CryptoPayDay June 24th, 2020 at 14:00 UTC: First #CryptoPayDay, 74,000 KAVA paid to participants July 1st, 2020 at 14:00 UTC: Second #CryptoPayDay 74,000 KAVA paid to participants July 8th, 2020 at 14:00 UTC: Third #CryptoPayDay 74,000 KAVA paid to participants July 15th, 2020 at 14:00 UTC: Fourth #CryptoPayDay 74,000 KAVA paid to participants …continues weekly until 3,848,000 KAVA has been distributed to BNB holders.Three Steps to Participate: 1.) Have BNB in Trust Wallet.https://trustwallet.com/ https://www.binance.vision/tutorials/how-to-withdraw 2.) Download Frontier, a mobile app that provides a DeFi interface to your Trust Wallet account.https://frontierwallet.com/ (make sure Frontier gets linked to your Trust Wallet address) 3.) Use the Frontier app to stake your BNB, mint USDX, and earn on each of the #CryptoPayDay About Kava: Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB and ATOM to name a few.The Kava platform has two types of tokens, the KAVA token and the USDX stablecoin where the KAVA token is the native token of the Kava blockchain integral in the security, governance, and mechanical functions of the platform.
Users can collateralize their crypto assets in exchange for Kava’s stablecoin, USDX.USDX is the highest earning USD denominated account available for modern investors, offering superior yields without additional risk, compared to traditional alternatives like checking and savings accounts that only deliver minuscule returns..
