25th February, 2020, Singapore – Global digital assets trading platform BiKI.com is proud to announce its impendinglisting of KAVA token on Feb 26, 1500 hrs (GMT + 8). A cross-chaindecentralized finance (DeFi) platform, Kava offers decentralized leverage andhedging of major digital assets such as BTC, ATOMand BNB, built by Kava Labs.
To celebrate the listing, BiKi and Kavawill be launching several campaigns for new users and fervent supporters to winsome KAVA. By combining their reach during the listing launch, both partieshope to capitalize on mutual community growth potential. More importantly, Kavaand BiKi will also be forming a strategic partnership whereby BiKi establishesa Node/validator setup. Kava looks forward to providing access to a stakingeconomy and DeFi products to BiKi’s users very soon.
ADeFi Initiative
“As a strong believer in DeFirevolutionizing the blockchain industry myself, I am very pleased to have Kavalisted with us and growing with us,” says Ethan Ng,Southeast Asia CEO of BiKi.com. “Like traditional markets, finance is the corethat functions as the lifeblood of other industries; DeFi offers betteropportunities for mass markets to enter. In my opinion, DeFi has to succeed in order for real progress to take place and Kavais one of the platforms allowing us to take a step closer towards this dream.”
Most notably, Kava is the first DeFiplatform to receive formal backing from BINANCE Launchpad, having successfullycompleted its Initial Exchange Offering with a US$3 million token sale onOctober 24, 2019. The Kava partnership network also includes world-renownedblockchain industry veterans, Ripple, Arrington XRP Capital, and Tendermint, aswell 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 theplatform.
“We are excited to see BiKi support our efforts and list KAVA, thegovernance and staking token of our DeFi platform,” says Kava CEO andCo-Founder, BrianKerr. “BiKi will help us inour mission to reach many key ‘hodlers’ of BTC, XRP, and ATOM* so that they canleverage the Kava DeFi platform for staking, lending, and hedging. I’m very happy to see BiKi take a pro-DeFistance and work with us. I believe they will play a key part in helping expandour DeFi platform’s global reach and footprint in the many months to come.”
Kerr is a serial venture-backedentrepreneur 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 ofthe most prominent forces in the industry. In addition to leading Kava’sstrategic direction and growth, Brian also serves as an advisor to severalblockchain projects such as Snowballand DMarket.io.
BridgingGaps
Coined by its team to be the first DeFi application built within theCosmos ecosystem, Kava aims to bridge the crypto economy and traditionalcollateralization processes through the issuance of USDX, a US dollar-peggedstablecoin loan in proportion to digital assets collateralized. Using a system of smart contracts, Kavaenables users open access to loans and algorithmically managed stablecoinsbacked by crypto assets — empowering digital asset owners with user-friendlyDeFi services.
Users can benefit from interest rates onKava’s stablecoin USDX through hedging. Kava can grow to support a wide rangeof new crypto assets and offer new synthetics and derivative products.
By supporting lending against crypto assetsfrom other networks, the Kava platform and its token KAVA have becomeattractive to many. This is coupled with its other features such as ‘NoCounterparty’ lending, where the Kava platform enables users to ‘self-issue’loans, minting new USDX based on their deposited collateral and destroying USDXwhen users close out their debt positions; its algorithmically maintainedstablecoin USDX; as well as its economically incentivized governance, whereKAVA token holders earn block rewards and fees paid by users.
Roadmap
Token holders can look forward to theupcoming launch of Kava’s CDP on their mainnet. Currently, Kava’s developersand 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 collateralizationand mint USDX.
AWin-Win Cooperation
BiKi and Kava have epitomized this era ofglobalization and cross-borderization.
With more than 2 million registered usersworldwide and 200,000 daily users, BiKi officially implemented its global usersystem on Feb 10, 2020. The past year has seen the exchange expanding and globalizing its brand, developing industryand community resources. These are aspects that Kava will be able totap into, to cultivate and develop in the global markets with opportunities forglobal exposure and accelerate its own infrastructure building.
With its cross-chain DeFi platform, Kavawill provide a derivative financial system that supports multi-asset mortgagelending and provides users with decentralized stablecoins. BiKi users/investorscan utilize Kava to realize leveraged hedging and hedging of assets held inunstable market conditions.
This strategic cooperation will continue at brand andmarket expansion levels, impacting both parties significantly in theirpositionings within the DeFi ecosystem.
In the meantime, BiKiusers are reminded to stay tuned to the BiKi.com platformas it launches the KAVA listing tomorrow and starts rolling out KAVA campaigngiveaways.
AboutBiKi.com
Headquartered inSingapore, BiKi.com is a global cryptocurrency exchangeranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform fortrading more than 150 cryptocurrencies and 280 trading pairs. BiKi.com isfocused on providing the safest, most stable and most effective cryptocurrencytrading platform. 100% of the transaction fees are used in buyback and burningof platform token, BIKI. Since its official opening in August 2018, BiKi.com isconsidered one of the fastest-growing cryptocurrency exchanges in the worldwith an accumulated 2 million registered users, 200,000 daily active users,over 2,000 community partners and 200,000 community members. BiKi.com hasreceived investments from Huobi co-founder Du Jun, Genesis Capital Zhu HuaiYang, FBG Capital, ChainUP and others totaling approximately 10 million USD.
Media Contact:
Marketing Team
Chang Jie Lin, BiKi.com
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+65-94556702
Cecilia Wong, yourPRstrategist.com
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+65-91826605App
