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Harvest, a new decentralized finance (DeFi) platform built on the Kava blockchain, plans to launch services that will allow users to earn more on Bitcoin, XRP and three other cryptocurrencies.
Harvest is Kava Labs’ first application. It will offer users opportunities to supply digital assets for lending and earn interest on them, as well as use their crypto as collateral for borrowing, according to Brian Kerr, Kava’s co-founder and chief executive. Both borrowers and lenders earn HARD, Harvest’s governance token.
In addition to BTC and XRP, Harvest will also support Binance Coin (BNB), the Binance USD stablecoin (BUSD), Chainlink (LINK), and Kava’s digital assets – KAVA and USDX.
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The platform will utilize Kava’s HARD governance token, which is to give users a voice in guiding the decentralized platform.
Kerr notes,
“Collectively, HARD holders are responsible for managing key parameters of Harvest such as what assets are to be offered, how rewards are distributed amongst assets, as well as set any platform fees, etc.
HARD tokens will also be used to incentivize early participants giving them a voice in the ongoing evolution and management of Harvest.”
Kerr says Kava Labs expects full supply and borrow services to be available on Harvest by the end of the year.
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Featured Image: Shutterstock/Vladislav Schukin