Kava Network Launches Main Network After One Week Delay
According to reports, Kava Network tweeted that Kava 12 main network was officially launched. It was originally scheduled to be released on January 19, and the…
According to reports, Kava Network tweeted that Kava 12 main network was officially launched. It was originally scheduled to be released on January 19, and then postponed for one week. It was scheduled to be launched at 23:00 on January 25, Beijing time.
Kava 12 main network officially launched
Interpret the above information:
Kava Network has officially launched its Kava 12 main network after a week of delay. The blockchain platform, which enables users to collateralize cryptocurrencies and earn stablecoins, had originally scheduled the launch on January 19 but pushed it back by one week. The Kava 12 main network was expected to go live on January 25 at 23:00 Beijing time.
This announcement is significant since Kava Network is a decentralized finance (DeFi) platform and the long-awaited launch of its main network will mean that the platform is now fully operational. According to reports, Kava is among the top DeFi platforms when it comes to total value locked (TVL), having crossed $1 billion in November 2020.
The Kava 12 main network is expected to bring a host of new features to the platform, including enabling users to earn staking rewards for its native token, KAVA. It will also introduce the Kava Swap, which is a decentralized exchange (DEX) for trading cryptocurrencies with KAVA as the main asset for trading fees.
The delay in the launch of Kava 12 was a result of several bugs that were discovered in the code. Kava Network took the extra time to ensure that the platform was secure and working correctly before going live. The team also used the delay to conduct an extensive audit of the smart contracts and to ensure that there were no issues with the new features being introduced.
In conclusion, the launch of the Kava 12 main network is a significant step forward for Kava Network, as it opens up new opportunities for users to participate in decentralized finance activities with greater ease and security. The delay shows the importance of thorough testing and auditing, which will hopefully inspire confidence in the platform for its users. With a growing TVL, Kava Network is definitely a DeFi platform worth keeping an eye on moving forward.
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