The latest release will provide the community of Cosmos (ATOM), a groundbreaking cross-chain ecosystem, with access to USDT liquidity. Kava (KAVA), the flagship network of Cosmos, has recently undergone a significant upgrade.
As per the official statement released by Tether Limited’s team, the leading issuer of the stablecoin USDT, Kava (KAVA) is slated to be included in its roster of supported blockchains. The initial USDT based on Kava will be created on the 3rd of July, 2023.
Tether’s (USDT) team emphasized in a statement that Kava (KAVA) combines the best features of the Ethereum Virtual Machine (EVM) with the advantages of the Cosmos SDK, such as high speed, low transaction fees, and interoperability. Recently, Kava’s (KAVA) team released the Kava 13 upgrade to enhance its throughput and speed.
Paolo Ardoino, the Chief Technology Officer at Tether, expressed enthusiasm for the latest release and believes that it will have a pivotal role in driving USDT’s advancement and adoption of diverse liquidity solutions.
Previously, USDT was introduced on various blockchain networks, including Ethereum (ETH), Solana (SOL), Algorand (ALGO), Eos (EOS), Tron (TRX), Near Protocol (NEAR), and Avalanche (AVAX), in addition to Liquid Network and Omni solutions.
Tron (TRX) accounts for a significant portion of USDT’s issuance, with a market cap of $46 billion out of a total of $83 billion, primarily due to its low transaction fees.
The Kava (KAVA) community is thrilled by this announcement and highlights that it marks the debut of USDT in the Cosmos (ATOM) ecosystem.
The surge in KAVA’s value, from $0.82 to above $0.92 within a few hours, mirrors the excitement of the Kava community. Consequently, KAVA has outperformed significant altcoins, registering double-digit gains.
