Skip to main content

HARD Version 2 Upgrade: Institutions Can Now Earn +25% APY On Bitcoin With Cross-chain Money Market

HARD Protocol Version 2 introduces significant changes and enhancements to the HARD cross-chain money market. Catering to the needs of institutional players will take DeFi to the next level of mainstream adoption.

HARD Protocol is a decentralized money market built on the Kava platform and enables lending and borrowing of cross-chain assets. In the Version 2 upgrade, several enhancements will become accessible to financial institutions looking to explore the decentralized finance industry. Providing an option for the companies that hold the largest currencies in the world including Bitcoin to earn +25% APY without counterparty risk is a gamechanger for decentralized finance.

The Kava 5.1 public testnet launch event is taking place until March 31, 202. When the event concludes, Kava 5.1 will launch on the mainnet, as does the HARD Protocol V2 upgrade. The technology to expand Kava’s appeal and the HARD money market confirms the team’s vision to bring cross-chain DeFi solutions to a global audience.

With HARD Protocol Version 2, borrowing with variable interest rates will become available to all users. Additionally, the upgrade introduces support for distributing the HARD token, the governance token of the HARD Protocol to both suppliers and borrowers of assets which further improves the effective yields offered to lenders on the platform and ensures all users, lenders and borrowers alike, get a say in the ongoing governance and evolution of the platform.

As part of the HARD Protocol Version 2 upgrade, developers and end-users across of a wide range of cryptocurrency asset types will now for the first time have the ability to earn interest denominated in their native asset.

Additionally, the HARD Governance model will undergo some changes and enhancements. The HARD community of token holders have the power to update protocol parameters, add money markets for additional crypto asset types, and update allocations of HARD token rewards in each money market to drive demand and usage through the built-in governance processes. Not only will this help grow the appeal of the HARD money market, but it will also empower our users further.

HARD Protocol continues to flexibly adapt to how retail users and financial institutions use the cross-chain money market to earn superior yields on digital assets. Enhanced governance by the community plays a crucial role in those proceedings as we seek to optimize the system even further. Hard Protocol will continue to evolve, upgrade, and make future changes through its decentralized governance process to ensure it will always suit the needs of its growing user base.

More details about HARD Protocol can be found at https://www.kava.io/hard-protocol



from NewsBTC https://ift.tt/2QUfDxd
via IFTTT
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...
Post a Comment
Read more

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad.  In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world.  Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations.  Once a system is mature, there’s a better idea of what we would like to change and improve.  We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs.  The Internet has followed this model since its inception, evolving through three distinct stages.  We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...
Post a Comment
Read more

Osprey sues Grayscale for misrepresenting likelihood of GBTC ETF approval

Osprey alleges its only competitor on the BTC OTC trust asset market gained its 99.5% market share by misrepresenting the likelihood of its trust becoming an ETF. Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin ( BTC ) exchange-traded fund (ETF) it is seeking to create.  Osprey stated in the suit that it is the only competitor to Grayscale on the over-the-counter traded Bitcoin trust asset management market, and Grayscale maintained its leading position through deceit: “Only because of its false and misleading advertising and promotion has Grayscale been able to maintain to date approximately 99.5% market share in a two-participant market despite charging more than four times the asset management fee that Osprey charges for its services.” Specifically, Osprey alleged that Graysc...
Post a Comment
Read more