The Kava Swap platform is Kava Labs latest DeFi project, but when is the mainnet launch date?
Like Kava Swap, a variety of new cryptocurrency projects and updates are slated for release in 2021. Cardano Smart Contracts will release in September, for example, and there are countless new NFT games coming this year.
Here’s a look at the Kava Swap release.
Kava Swap Mainnet Release Date
However, this is still subject to change. Kava Swap’s launch would come as part of the Kava-8 upgrade. For the Kava-8 proposal to go through, it must gain the approval of Kava holders in an ongoing vote.
The vote first started on August 20 and will end on August 27. As of August 27, the current tally shows 100% of KAVA holders in favour of the Kava Swap Upgrade, although the current turnout of KAVA is 26.45% - or 21.384m KAVA. To reach quorum, turnout must be above 40%.
If the vote passes, the final block of Kava-7, Kava’s previous version, will occur at 1 PM UTC. Kava-8’s genesis block will happen at 3 PM UTC.
What Is Kava Swap?
Kava Swap is Kava Labs’ cross-chain Autonomous Market Making (AMM) platform that allows users to swap assets between blockchains.
Aside from trading assets across blockchains, users can earn Kava Swap Tokens (KSWP) by supplying liquidity into the Kava Swap’s liquidity pools.
Of course, Kava Swap is not the first dApp built around swapping cryptocurrency. The likes of Liquality and Swingby offer atomic swaps across blockchains, while the DEX Uniswap allows for the trading of tokens on Ethereum
According to Kava Laps, the first version of Kava Swap will support BTC, XRP, BNB, BUSD, USDX, KAVA, HARD and SWP. On-chain governance votes will decide whether to add new assets or liquidity pools to the platform.
After Version 1, Kava Swap’s roadmap lays out three future versions of Kava Swap. Version 2 will implement Kava Swap into the Kava API, allowing further integration into other apps. Version 3 will add smart liquidity bridges between BSC and Ethereum, while Version 4 will also implement additional bridges for other ecosystems.
However, this roadmap – first published on May 11 – remains subject to change, and does not feature in the final on-chain proposal for Kava Swap.