On June 11, dForce released a press release announcing a new partnership with blockchain layer-1 KAVA network. The agreement will allow dForce to provide services for KAVA members such as dForce loans, dForce bridge, and USX stablecoin. This is an important step on the KAVA road to becoming an important web3 infrastructure for DeFi.
dForce tweeted the following:
DForce is a one-of-a-kind web3 firm that aims to create a full set of DeFi agreements to provide services on assets such as borrowing, trading, and bridges.
In partnership with the KAVA network, the growth of dForce in a true multi-chain protocol has progressed to the next level. DForce expects that this integration will provide users in the blockchain network 1 blockchain with many options, which helps expand the KAVA ecosystem.
KAVA is a secure 1-layer network that integrates Ethereum developer capabilities with Cosmos level collaboration to enable major solutions in a single ecosystem. The latest additions of dForce to the KAVA network will help it further its dream.
USX stablecoin, the first stablecoin to support pools with multiple securities and individual vault-based securities in any chain, will be the first integration from dForce. USDC provides over-collateralization, Protocol-Direct-Liquidity-Provision, and cross-chain operations on the KAVA network, in excess of $ 200 million in additional funding.
The KAVA ecosystem will include dForce borrowing, TVL’s largest lending protocol for Arbitrium. It is a multidisciplinary loan protocol with a flexible interest rate system that recalculates prices on a regular basis based on market conditions. The system has been thoroughly researched, tested, and researched to ensure its stability during the market downturn.
The bridge protocol’s integration will improve KAVA’s compatibility with well-known chains including Ethereum, Polygon, Arbitrium, Binance Smart Chain, and Optimism. DForce has teamed with Celebr cbridge to connect its DF and USX tokens to other networks as rapidly as possible while minimising costs and avoiding slippage.
Read more: Osmosis chain faces loss of $5 million from liquidity pools of DeFi protocol
