Kava.io
About Kava.io
The price of Kava.io (KAVA) is $0.29387392 today, as of Sep 16 08:15 p.m., with a 24-hour trading volume of $12.49M. Over the last 24 hours, the price has decreased by -4.96%. Kava.io currently has a circulating supply of 1.08B and a market cap of $318.22M.
Kava is the native cryptocurrency of the Kava.io platform, a decentralized finance protocol allowing users to lend and borrow assets using multiple crypto assets as collateral.
As a blockchain-based platform, Kava.io doesn’t require intermediaries to complete this process. Instead, it opts for a cross-chain lending platform allowing users to borrow the USDX stablecoin against non-decentralized finance (DeFi) assets such as bitcoin (BTC) and xrp (XRP.) Additionally, users can deposit supported crypto assets and earn interest.
The KAVA token launched in October 2019 and noted a first price peak of $5.11 on Aug. 17, 2020. Its value dropped to $1.28 in early November 2020 until recording a new high of $7.25 on April 9, 2021. The subsequent KAVA price dip to $2.78 on May 24, 2021, culminated in an all-time high of $9.12 on Aug. 30, 2021. The KAVA price retraced to $4.63 on Sept. 22, 2021.
In terms of its total supply, KAVA has an unknown supply cap; 100 million tokens were issued during three private sales – 30.05%, 5.02% and 4.93%, respectively – and one public round – 6.52% – on Binance Launchpad. Its current issuance rate is unknown because KAVA block rewards are randomized based on how much KAVA is staked on the network. However, Kava Labs maintains a burn mechanism when a collateralized debt position (CDP) is closed. Any KAVA used in that process to pay for stability fees is burned (permanently removed from circulation.)
The Kava Labs shareholders control 25% of the total KAVA supply, with the remaining 28.48% residing in the Treasury.