25th February, 2020, Singapore – Global digital assets trading platform BiKI.com is proud to announce its impending
listing of KAVA token on Feb 26, 1500 hrs (GMT + 8). A cross-chain
decentralized finance (DeFi) platform, Kava offers decentralized leverage and
hedging of major digital assets such as BTC, ATOM
and BNB, built by Kava Labs.
To celebrate the listing, BiKi and Kava
will be launching several campaigns for new users and fervent supporters to win
some KAVA. By combining their reach during the listing launch, both parties
hope to capitalize on mutual community growth potential. More importantly, Kava
and BiKi will also be forming a strategic partnership whereby BiKi establishes
a Node/validator setup. Kava looks forward to providing access to a staking
economy and DeFi products to BiKi’s users very soon.
A
DeFi Initiative
“As a strong believer in DeFi
revolutionizing the blockchain industry myself, I am very pleased to have Kava
listed with us and growing with us,” says Ethan Ng,
Southeast Asia CEO of BiKi.com. “Like traditional markets, finance is the core
that functions as the lifeblood of other industries; DeFi offers better
opportunities for mass markets to enter. In my opinion, DeFi has to succeed in order for real progress to take place and Kava
is one of the platforms allowing us to take a step closer towards this dream.”
Most notably, Kava is the first DeFi
platform to receive formal backing from Binance Launchpad, having successfully
completed its Initial Exchange Offering with a US$3 million token sale on
October 24, 2019. The Kava partnership network also includes world-renowned
blockchain industry veterans, Ripple, Arrington XRP Capital, and Tendermint, as
well as leading staking-as-a-service providers, StakeWith.Us and Dokia Capital,
with intentions to support ATOM and XRP as the first few assets on the
platform.
“We are excited to see BiKi support our efforts and list KAVA, the
governance and staking token of our DeFi platform,” says Kava CEO and
Co-Founder, Brian
Kerr. “BiKi will help us in
our mission to reach many key ‘hodlers’ of BTC, XRP, and ATOM so that they can
leverage the Kava DeFi platform for staking, lending, and hedging. I’m very happy to see BiKi take a pro-DeFi
stance and work with us. I believe they will play a key part in helping expand
our DeFi platform’s global reach and footprint in the many months to come.”
Kerr is a serial venture-backed
entrepreneur who previously founded and led an esports accessory company,
Fnatic Gear. Kerr grew the company from a team of three staff in 2014 to one of
the most prominent forces in the industry. In addition to leading Kava’s
strategic direction and growth, Brian also serves as an advisor to several
blockchain projects such as Snowball
and DMarket.io.
Bridging
Gaps
Coined by its team to be the first DeFi application built within the
Cosmos ecosystem, Kava aims to bridge the crypto economy and traditional
collateralization processes through the issuance of USDX, a US dollar-pegged
stablecoin loan in proportion to digital assets collateralized. Using a system of smart contracts, Kava
enables users open access to loans and algorithmically managed stablecoins
backed by crypto assets — empowering digital asset owners with user-friendly
DeFi services.
Users can benefit from interest rates on
Kava’s stablecoin USDX through hedging. Kava can grow to support a wide range
of new crypto assets and offer new synthetics and derivative products.
By supporting lending against crypto assets
from other networks, the Kava platform and its token KAVA have become
attractive to many. This is coupled with its other features such as ‘No
Counterparty’ lending, where the Kava platform enables users to ‘self-issue’
loans, minting new USDX based on their deposited collateral and destroying USDX
when users close out their debt positions; its algorithmically maintained
stablecoin USDX; as well as its economically incentivized governance, where
KAVA token holders earn block rewards and fees paid by users.
Roadmap
Token holders can look forward to the
upcoming launch of Kava’s CDP on their mainnet. Currently, Kava’s developers
and validators are testing the security and robustness of the product. After the launch of Kava’s flagship product,
the CDP platform, Kava will start to accept crypto assets for collateralization
and mint USDX.
A
Win-Win Cooperation
BiKi and Kava have epitomized this era of
globalization and cross-borderization.
With more than 2 million registered users
worldwide and 200,000 daily users, BiKi officially implemented its global user
system on Feb 10, 2020. The past year has seen the exchange expanding and globalizing its brand, developing industry
and community resources. These are aspects that Kava will be able to
tap into, to cultivate and develop in the global markets with opportunities for
global exposure and accelerate its own infrastructure building.
With its cross-chain DeFi platform, Kava
will provide a derivative financial system that supports multi-asset mortgage
lending and provides users with decentralized stablecoins. BiKi users/investors
can utilize Kava to realize leveraged hedging and hedging of assets held in
unstable market conditions.
This strategic cooperation will continue at brand and
market expansion levels, impacting both parties significantly in their
positionings within the DeFi ecosystem.
In the meantime, BiKi
users are reminded to stay tuned to the BiKi.com platform
as it launches the KAVA listing tomorrow and starts rolling out KAVA campaign
giveaways.
About
BiKi.com
Headquartered in
Singapore, BiKi.com is a global cryptocurrency exchange
ranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform for
trading more than 150 cryptocurrencies and 280 trading pairs. BiKi.com is
focused on providing the safest, most stable and most effective cryptocurrency
trading platform. 100% of the transaction fees are used in buyback and burning
of platform token, BIKI. Since its official opening in August 2018, BiKi.com is
considered one of the fastest-growing cryptocurrency exchanges in the world
with an accumulated 2 million registered users, 200,000 daily active users,
over 2,000 community partners and 200,000 community members. BiKi.com has
received investments from Huobi co-founder Du Jun, Genesis Capital Zhu Huai
Yang, FBG Capital, ChainUP and others totaling approximately 10 million USD.
Media Contact:
Marketing Team
Chang Jie Lin, BiKi.com
[email protected]
+65-94556702
Cecilia Wong, yourPRstrategist.com
[email protected]
+65-91826605App
