SAN FRANCISCO--(BUSINESS WIRE)--Kava Labs™, an open-source and non-custodial developer of financial products and services for decentralized finance (DeFi), announces Cosmostation as the first recipient of Ignition Fund to build on Kava Ecosystem.
Cosmostation has been selected by Kava Labs as the first ecosystem partner to receive a portion of the $185M Kava Ignition Fund. Cosmostation’s Stable Swap will be a decentralized exchange and automated market maker (AMM) powered by the highly scalable Kava Platform and exclusive to the Kava Ecosystem.
The Kava Ignition fund will provide capital to accelerate the development of Stable Swap and ensure that it is able to meet the Kava Ecosystem’s rigorous security and user-experience standards. It will also provide liquidity at launch so that the platform can provide a high-quality stable swap experience for Kava Ecosystem users from day one.
The onboarding of Cosmostation as an ecosystem developer and partner is a significant value-add for the Kava Ecosystem. The Cosmostation Stable Swap will expand the core services available on the ecosystem and offer a new way for users to onramp and earn safely with their crypto.
"Cosmostation is exactly the type of project we want adding value to the Kava Ecosystem. They have been building compelling products quietly for years and we're thrilled to have them join our mission of building a home for mainstream DeFi." - Scott Stuart, Kava Labs CEO
The experience of the Cosmostation team in building reliable, streamlined end-user DeFi products and enterprise-level network validation will be instrumental in helping the Kava Ecosystem to meet its goal of delivering safe, reliable DeFi to mainstream users.
About Kava Labs
Kava Labs is the primary development team of the Kava Platform and its suite of products, which connect the world’s largest cryptocurrencies, ecosystems, and financial applications on DeFi’s most trusted, scalable, and secure earning platform. The mission of Kava Labs is to create a safe, accessible home for the next generation of decentralized finance (DeFi) users through a combination of powerful Layer-1 architecture, institutional-grade security, and user experience-driven design.