Hover’s Lending Protocol
Kava Network, which has proven to be one of the most robust L1 projects in blockchain technology, is launching Hover on February 21. It aims to become the number one DeFi Kava provider by focusing on the DeFi Primitives that the blockchain community will use. The key to understanding Hover’s role for Kava and its community is; By wisely lending, staking or trading, users earn returns while contributing to the capital of the project.
The full launch of the Hover lending protocol will take place on February 21 and will allow users to earn returns by procuring assets and borrow against the collateral provided. It means Hover users will be able to experience the full features of Hover’s lending protocol and the benefits of its integrated tokenomics from the launch date.
Seizing the opportunity to develop DeFi Primitives, the KAVA team founded Hover. Thus, it aims to optimize the TVL (Total Value Locked) within Kava with Hover, the leading lending protocol.
The team is using the platform to build deeper lending products and financial tools, using Hover as a base layer to start building out the lending ecosystem.
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Users can deposit their assets into Hover’s lending pools to generate returns and use the provided assets as collateral to borrow from supported markets. Currently, Hover will allow lending and borrowing across three assets: $KAVA, $ATOM, and $USDt, with plans to add additional tokens to the market in the near future.
As a thank you to users who support the Hover ecosystem over the long term, Hover has integrated a unique tokenomic model with rewards and discounts for users who stake Hover’s native token, $HOV. Hover’s tokenomics rewards loyalty, aligning users and $HOV holders with the long-term success of the protocol.
The launch of Hover on February 21 will unlock all lending protocol functionality and benefits of the Hover Staking Program .
Users who engage with Hover through Genesis Pools and benefit from incremental returns reaching 200% APR on $KAVA, $ATOM, and $USDt. Genesis Pools will close to deposits on February 20. However, closing Genesis Pool deposits does not mean the end of rewards. For early adopters, those who keep their deposits in Hover Genesis Pools will continue to accumulate increased APY for an additional four weeks until March 18.
Website: https://hover.market
Twitter: https://twitter.com/hover_market
Telegram: https://t.me/Hover_Market
Email: hello@hover.market
