We are at the forefront of PoS blockchain research. We work with carefully selected networks and help them launch and operate seamlessly. Our technical input has been vital in adding value to blockchains such as Solana, Cosmos and Ethereum.
The Chorus One infrastructure and surrounding processes are highly specialized to guarantee reliable and fault tolerant operation of our nodes as well as safekeeping of associated cryptographic key material.
Both institutional and retail investors trust our staking services. Our engineers work around the clock to ensure your stake is safe. Moreover, we safeguard all investments with our delegator protection pool of $250k, refreshed each quarter.
We keep our community updated through regular posts, engaging podcast episodes, and in-depth research articles. We provide 24x7 support to our delegators via Telegram, email and chat.
Frequently Asked Questions
What are the Kava tokens?
Kava has a dual token system to guarantee that each user has the greatest amount of freedom and usefulness. This technique enables developers and consumers to increase functionality without compromising either sector. USDX and KAVA are the two most important currencies for Kava.
Can users deposit wrapped Ethereum assets on the Kava App now that Kava 10 is live?
Users are not currently able to deposit wrapped Ethereum assets. However, Kava Governance is exploring how to bring these assets into Kava 10 after the Ethereum bridge launches.
What wallet will users need to use for Kava's EVM?
What is the unstaking time frame?
After unstaking KAVA, those coins are locked for 21 days. After that, they are released and can be used.
Kava is a cross-chain, decentralized finance project focused on providing collateralized, USD-pegged stablecoin borrowing for assets from different blockchains. Kava is making use of interoperability solutions to bring its services to tokens like Binance’s BNB and Bitcoin.
Users of the Kava CDP system earn KAVA tokens and can delegate them to validators like Chorus One, which maintains and govern the protocol with the goal to create a stable platform for cross-chain decentralized finance.
Please note that the unstake period is 21 days. This means that you can only unstake and withdraw coins to your wallet after this time has passed. We wish you profitable staking!
How to stake
1. Install Keplr Wallet Extension
In case you don't have the keplr extension installed in your browser visit https://www.keplr.app/ and click on Install extension.
Click on Install Keplr for Chrome if you are using a Chrome browser or Brave if you are using the Brave browser and follow the installation instructions.
2. Create/Import Account
Click on the extension in the Chrome/Brave toolbar and the following page will open up.
In case you do not have an existing Keplr account you can create a new account
You will be shown 12 words as your mnemonic seed. Select24 words option for a more secure mnemonic. Back it up securely (read the warning below)
Back up your mnemonic seed securely.
Anyone with your mnemonic seed can take your assets.
Lost mnemonic seed can't be recovered.
Enter an account name and a passphrase to unlock your wallet. You will be asked for the mnemonic again. Enter the 24 words in order. This is to make sure you remember the mnemonic.
Finally, click on Next to create your account
3. Log in to your account
Regardless of whether you already have an account or if you created it just now you may now click on the extension to view your address or visit https://wallet.keplr.app/#/akashnet/stake to see the full dashboard.
4. Stake your KAVA
If you don't already have KAVA in your account fund it with some tokens. You may use an exchange to transfer the KAVA tokens to your address or get it from someone who already holds those.
To stake click on the Kava network in the left panel and click on Stake
You will be shown a list of validators with whom to stake on the right side. Scroll to Chorus One and click on Manage.
A modal with Chorus One's description will pop up. Click once on Delegate to enter the amount of tokens you want to stake.
Clicking on Delegate again will take you to Keplr wallet for approval. Approve the transaction and you will be able to see your stake.
There is a 21-day unbonding process for staked KAVAs during which delegator KAVAs do not earn rewards and cannot be transferred, exchanged, or spent. KAVAs can, however, be slashed during the unbonding period.
Once your transaction is approved you will be able to see your Kava getting staked. Congratulations you have successfully staked your $KAVA!!
5. Claiming rewards
After some time you will see rewards getting accumulated in your account. You can simply go to the Keplr extension to claim them.
The Kava blockchain enables users to issue a stablecoin pegged to the USD (USDX) by locking a variety of cryptoassets on the platform using what is called a collateralized debt position (CDP). CDPs are the cornerstone of decentralized finance. One use case is allowing users to get leverage without requiring a centralized counterparty. MakerDAO, the first CDP issuance platform that is live on Ethereum, is leading this space with around $280m (almost 1.5% of the ETH supply) locked in their CDP system.
Kava is bringing CDPs to non-Ethereum-based cryptocurrencies (starting with BTC, ATOM, XRP, BNB, and USDT) by leveraging interoperability technologies developed for the Cosmos ecosystem. In addition, Kava is built as a sovereign blockchain uniting security, stability, and governance of the platform in one token: KAVA.
What is the KAVA token used for?
The KAVA token is designed to serve three purposes in the Kava ecosystem:
Security: The blockchain is secured by KAVA in the form of collateral staked with validators.
Stability: KAVA will be minted should the USDX stablecoin lose its peg to bring the system back to stability.
Governance: Parameters related to the blockchain and CDP system are governed by KAVA holders.
KAVA holders are rewarded directly for taking on these responsibilities by absorbing KAVA issuance and transaction fees in a variety of tokens (when staking), as well as indirectly through the burning of stability fees paid by CDP users on the blockchain.
Network Security and Staking Rewards
KAVA paid as transaction fees from interacting with the blockchain and continuously minted KAVA tokens (block rewards) are distributed to stakers to ensure secure operation of the system. The amount received as staking rewards depends on the staking ratio (percentage of KAVA supply staking), the commission rate charged by validators, and transaction fee volume in the system.
The Kava system is issuing new KAVA tokens starting at a rate of 7% per year. The issuance rate gradually adjusts between a floor of 3% if more than ⅔ of KAVA tokens are at stake and a ceiling of 20% if staked KAVA supply stays below the targeted ⅔ ratio for an extended period of time. In addition, transaction fees paid by users transferring assets onto and on the blockchain, as well as opening and closing CDPs are paid to KAVA stakers.
On the flipside, KAVA stakers run the risk of losing a portion of their tokens (up to 5%) should a validator they are staking with get slashed for misbehaving or for being offline.
The Kava system keeps track of collateral in the system and incentivizes liquidation of CDPs that fall below their specified overcollateralization ratios to keep USDX stable at the price of USD. Should USDX lose its peg anyway, e.g. because the value of collateral fell faster than the liquidation system was able to auction off risky CDPs, KAVA tokens will be minted and used to buy up USDX to return to the peg. In case this rare scenario takes place, KAVA holders will be diluted to ensure the system stays stable.
Every CDP type levies an adjustable stability fee (set to 5% APR at launch) which has to be paid in KAVA when closing the CDP. This fee is burned, which reduces the total KAVA supply and thus indirectly benefits KAVA holders. As an example, an owner of a CDP with a debt of 10,000 USDX that was open for a year would need to pay (and burn) 500 USDX worth of KAVA.
Finally, staking KAVA holders are able to participate in the governance of the system either by delegating to validators or by voting directly. All features and parameters of the system, such as which assets to accept, as well as the specific stability fees and overcollateralization ratios are decided through the on-chain governance system.
Kava is a cross-chain decentralized finance (DeFi) platform on Cosmos, allowing users to access decentralized leverage and hedging for major cryptocurrencies such as Bitcoin (BTC), XRP, Cosmos (ATOM) and BNB.