Hey, Hive! Happy Thursday!
Round 2 with our weekly crypto news round-up is now here! This week, we have news regarding Kava, Yield Farmers and Yam! 😉
Read on!
Kava Ready to Launch Cross-Chain Money Market
Kava (KAVA) has announced its intention to build a cross-chain money market on the Cosmos (ATOM) blockchain to maximize on the growing DeFi scene.
They plan to build an application for lending and borrowing crypto assets called Harvest.
Customers can earn interest as well as Harvest’s own governance token.
Yield Farmers Profit But Can’t Read Smart Contracts
Our very first Yield Farming survey has shown that most yield farmers are unable to read smart contracts but are raking it in anyway.
Out of 1347 participants, 93% of our respondents are receiving returns of up to more than 500%.
However, smart contract literacy for our DeFi users is only at 40%.
Yam Experiences First Successful Rebase
Yam Finance (YAM) has achieved its first successful rebase after meeting failure in previous versions.
Sitting at almost $20 per YAM, the rebase pushed prices below $7, but token holders gained more than twice the original amount of tokens in their wallets.
Occurring every 12 hours, the rebase is meant to target a peg of 1 yUSD.
That sums it up for our weekly round-up! Want to stay up to date daily?
Subscribe to CoinGecko's Newsletter for daily insights on the latest happenings in the crypto space!
