Kava Labs Sponsors DeFi Innovation Challenge for Cosmos HackAtom VI Hackathon

SAN FRANCISCO--(BUSINESS WIRE)--Kava Labs™, an open-source and non-custodial developer of financial products and services for decentralized finance (DeFi), is sponsoring a Cosmos HackAtom VI challenge aimed at driving DeFi innovation using the Cosmos SDK.

As one of the silver sponsors for the upcoming HackAtom VI hackathon, Kava Labs is focusing its challenge on the DeFi category. For the challenge, developers will be tasked with creating an innovative autonomous options protocol as a Cosmos SDK module.

“As the first team to build a DeFi platform using the Cosmos SDK, we have been huge supporters of the framework since day one,” said Scott Stuart, CEO of Kava Labs. “With this challenge, we’re hoping to push developers to explore what is possible with the Cosmos SDK and possibly find a protocol that can become a part of the Kava Ecosystem in the future.”

Kava is preparing to integrate Cosmos’ Inter-Blockchain Communication Protocol (IBC) with its upcoming Kava 9 mainnet upgrade. The HackAtom challenge offers Cosmos developers an early opportunity to build for the Kava Ecosystem and potentially get additional acceleration for their project from the Kava Ignition Fund.

“Kava was one of the earliest platforms to innovate using Cosmos SDK and Tendermint Core, and continues to be one of the strongest DeFi use cases,” said Peng Zhong, CEO of Tendermint. “We are very happy to have Kava Labs as a sponsor of this major event, which is the largest hackathon in Cosmos history, and looking forward to welcoming Kava to the IBC gang as they prepare to connect to the ever-expanding Cosmos ecosystem.”

HackAtom VI kicks off on November 11th with an in-person event in Lisbon, Portugal, and will run through December 8th. Developers will take on challenges in seven categories with a total of over $1 million worth of $ATOM up for grabs in prizes.

About Kava Labs

Kava Labs is the primary development team of the Kava Platform, which connects the world’s largest cryptocurrencies, ecosystems, and financial applications. The mission of Kava Labs is to create a secure, scalable home for the future of decentralized finance (DeFi) through a combination of powerful Layer-1 architecture, institutional-grade security, and user experience-driven design.

To learn more about the Kava Ecosystem, please visit: https://bit.ly/Kava_Ecosystem