Curiously enough, “Kava” may refer to several plant species, a sedative drink, a Russian river, and several locations around the world. Kava is designed for high speeds, programmability, and native cross-chain capabilities, making it a standout project within the Cosmos ecosystem. This time, we’re referring to the DeFi protocol available to earn rewards in several cryptocurrency platforms. Kava's journey in June 2019, driven by its founding team, including CEO Brian Kerr, and has since evolved into a dynamic platform for users. The use of Tendermint (a Proof-of-Stake system) as the consensus protocol ensures speed and low transaction costs, supporting up to 10,000 transactions per second (TPS). Kava's modular design allows developers to extend its functionality, with modules like the price feeder, auctions, and the KAVA Collateralized Debt Position (CDP) system. began DeFi Now, talking about rewards, they’re running the Kava Rise Program for developers. This is, in theory, a way to attract and reward the teams of new dapps, but ordinary users can also benefit from it. This is how it happens in the case of . Dapp Obyte What is the Kava Rise Program? This is a aimed to incentivize Dapps registered on the Kava network for their Total Value Locked (TVL). This is a used to measure the total amount of funds locked or held within a decentralized finance (DeFi) protocol or platform at a specific time, indicating the level of participation and value within the ecosystem. rewards system common metric As part of the Kava Rise program, The rewards are distributed among enrolled Dapps based on the TVL they generate on Kava, tracked by the service DeFiLlama. Usually, this means that the more crypto users are attracted by certain Dapp, the more that Dapp will earn from the program. Dapps receive generous rewards of 1,000,000 KAVA tokens (approximately $1 million) monthly. Obyte has the program with two Dapps: and . The first one is a cross-chain platform, while the second one is a new Dapp with its own token for borrowing. To Obyte users, this presents a unique opportunity to earn passive income with their GBYTE and KAVA-based holdings. recently joined Counterstake Bridge LINE How to earn with Obyte and Kava? First of all, we must note that Obyte plans to leverage these developer rewards to buy GBYTE from the market, creating buy pressure, That’s a win-win situation for the ledger and the users. and distribute 90% of the acquired GBYTEs to users actively contributing to the TVL on Counterstake and LINE. The first method for earning is to bridge (swap) Kava tokens to Obyte via Counterstake. Users don’t need to do anything else in this case, just keep the bridged tokens in their wallets. Monthly rewards in GBYTE will be sent to the wallet addresses holding these bridged tokens, according to their contributions. The second way to earn is by using the new LINE Token for double rewards. By borrowing LINE tokens against GBYTE collateral through linetoken.org and subsequently bridging them back to Obyte, users can receive rewards proportional to twice their LINE token holdings. Holding LINE tokens in Obyte wallets automatically qualifies users for a share of the Kava Rise rewards, proportional to twice their LINE balances. The steps are simple: Bridge GBYTE from Obyte to Kava via the Counterstake platform. Use GBYTE to borrow LINE at linetoken.org. Bridge the borrowed LINE tokens back to Obyte. Some financial considerations An important part about LINE is that it’s a price-protected token: If its price grows, the user can sell the LINE tokens on DEXes for a profit and forget about the loan. If the price falls, the user can just repay the loan and get one’s GBYTE collateral back, less fees. Therefore, your investment wouldn’t be high-risk —unlike what’s usual on new DeFi platforms. In recent months, the average Annual Percentage Yield (APY) for Kava Rise rewards has been around 7%. LINE token holders have the potential to earn double the standard APY as long as the LINE token price remains stable. To make the most of these earnings, it’s recommended to hold LINE tokens for the long term. And that’s it! Ready to earn some passive income with Kava and Obyte? You can start on or now! Counterstake LINE Featured Vector Image by redgreystock / Freepik
