The popular multi-asset DeFi platform powered by Kava Labs has optimized its network with the release of the Kava 5.1 upgrade. The company cited enhanced earnings from lending and decreased risks as the main benefits from the update. Kava 5.1 Arrives The software protocol enabling its users to utilize multiple crypto assets to borrow and lend funds without the need for a third-party intermediary announced its latest developments in a press release shared with CryptoPotato. The statement outlined the release of Kava 5.1 as the significant milestone that could close the gap between the institutional investors entering the crypto space and Kava’s platform. The company breached some of the recent purchases made by giants like Elon Musk’s Tesla, MassMutual, MicroStrategy, and
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The popular multi-asset DeFi platform powered by Kava Labs has optimized its network with the release of the Kava 5.1 upgrade. The company cited enhanced earnings from lending and decreased risks as the main benefits from the update.
Kava 5.1 Arrives
The software protocol enabling its users to utilize multiple crypto assets to borrow and lend funds without the need for a third-party intermediary announced its latest developments in a press release shared with CryptoPotato.
The statement outlined the release of Kava 5.1 as the significant milestone that could close the gap between the institutional investors entering the crypto space and Kava’s platform.
The company breached some of the recent purchases made by giants like Elon Musk’s Tesla, MassMutual, MicroStrategy, and more, as the natural first step to arrive at the scene. However, this is where the next challenge lies as this “retention angle will prove necessary if this industry is to keep on growing globally.”
Kava believes that the solution sits with allowing them to put their bitcoin to work.
“One option that may appeal to some of the institutional players is using their current Bitcoin holdings as collateral for loans.” – reads the PR.
45% APR on BTC Holdings?
Although realizing that most giants that bought BTC might be taking the HODLing approach, Kava’s statement highlighted a possible scenario where they can make a sizeable passive income.
Apart from the release of Kava 5.1, the cross-chain DeFi money market platform Hard Protocol has also received an upgrade with the launch of its Version 2. With the combined efforts between the two parties, “any financial institution can earn 45% on their current BTC holdings without counterparty risk.”
Bitcoin’s role in DeFi still remains “minimal,” according to the statement, and convincing those institutions to receive DeFi exposure through the primary cryptocurrency is a “tall order.” Nevertheless, the company is committed to introducing the benefits of decentralized finance, as the CEO of Kava Labs, Brian Kerr, explained:
“As more enterprises and financial institutions adopt bitcoin and cryptocurrencies, the more valuable the Kava DeFi platform will become as it enables this new wave of financially minded users with a way to finally put their assets to work and make Bitcoin and other crypto into a cash-flowing asset on their balance sheets.”