The effective roll-out of USDT, the most liquid, safe and trustworthy stablecoin in the world happened on Cosmos via Kava, which is an important step in the development of the Cosmos DeFi ecosystem.

It is now possible to use deep stablecoin liquidity across the Ethereum Virtual Machine (EVM) and Inter-Blockchain Communication (IBC) ecosystems of Cosmos thanks to the incorporation of Tether’s USDT on Kava. 

Meanwhile, with native USDT released on Kava, the restricted growth, dispersed liquidity, and excessive volatility of the Cosmos ecosystem are resolved with the addition of natively issued USDT for customers and developers. 

Moreover, users of EVM DApps and Cosmos DApps now have access to a safe and widely used canonical stablecoin thanks to Native USDT.

Kava co-founder Scott Stuart expressed his deep delight with the successful launch and said, “By supporting Tether’s USDT incorporation, we enable much-needed stablecoin liquidity throughout the Cosmos and EVM ecosystems. Kava is now a crucial ally and supporter of the Cosmos ecosystem projects creating the internet of blockchains as a result of Tether’s decision.”

USDT natively issued on Kava can transfer between IBC and EVM blockchains via an “internal bridge” with robust access controls, thus significantly decreasing attack vectors.

Kava offers consumers an effective system for stablecoin supply and transfer, making moving assets across chains quick and extremely safe.

The result of this integration might spur a large growth of the DeFi economy on Cosmos, offering a convincing answer to the liquidity issue that has been a problem ever since Terra’s UST collapsed in Q1 2022. 

Moreover, users and developers will benefit from greater security and dependability thanks to the adoption of Tether, a stablecoin with a solid reputation and a 65% market share.

Tether’s chief technical officer, Paolo Ardoino said, “The Kava network is a distinctive and well-liked blockchain with a solid track record of four years with no reported security problems that is crucial for safeguarding USDT consumers. Together, we seek to redefine the direction of decentralised finance while promoting resilient and inclusive ecosystem that benefits people globally.”

The developer power of Ethereum and the speed and compatibility of Cosmos are combined in a single, scalable network by the safe, blazing-fast layer-1 blockchain known as Kava. Kava, which is dedicated to supporting creativity and growth, is a well-known option for users and developers globally.

The post USDT successfully roll out on Kava blockchain appeared first on CryptoShrypto.

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Filed under: Bitcoin - @ July 8, 2023 8:45 am