- Hard Protocol to begin operation on Binance Launchpool.
- First cross-chained money market to be integrated on Kava’s Cosmos SDK blockchain
Kava Labs has announced that it would be launching Hard Protocols. Hard Protocols is a DeFi money market ecosystem that is built to be cross-chained. It was built using the Kava backed Cosmos SDK blockchain.
Users would also be able to earn the “HARD” token through their transactions on the exchange. Binance Launchpool was launched with the intention of making more crypto market players take an interest in DeFi. The Launchpool allows those enthusiast that are new to the DeFi sector trade at a lower level of risk.
According to the announcement, the users of Hard Protocol can use the tokens they have earned to participate in governance of the system. Not only that, the ecosystem has been programmed to profit early participation while it would also be looking to help develop the decentralised finance sector.
Hard Protocol was hitherto known as Harvest.io. However, a name change became necessary after it was discovered that its name was quite similar to Harvest.finance that also began operating during the same period.
Considering the fact that Kava just recently launched this SDK blockchain, it is gradually growing into a lucrative venture especially through the Binance Launchpool.
Hard Protocol to commence yield farming
Yield farming on Hard Protocol is scheduled to begin on the 2nd of November, 2020 by 7 PM EST on Binance Launchpool.
The DeFi ecosystem provides users with a plethora of options. Users can pick their staking option with a host of different alternatives like BNB, KAVA etc.
The farming period is expected to last for 30 days and its rewards would be shared linearly by those who staked on the BNB, BUSD and KAVA pools.