By Ollie H - Bitcoin Professional - 31-10-2021
As Prop 60 lays out the new upgrade plans for Kava-8, the users of the platform now have access to borrowing $USDX. USDX is a stablecoin native to that of the Kava network, where users can buy cryptocurrency USDX to use as collateral when lending and bring in higher profits. Users can earn without mass price fluctuations by utilising a stablecoin for borrowing and lending. Making a stablecoin accessible within the platform makes borrowing tokens and investing in cryptocurrency less risky and attracts many safe players.
Users can gain stablecoin USDX when adding crypto market investments into Kava Mint protocol. Once the assets have been given to the protocol to be used as collateral, Kava users will obtain USDX to borrow against their locked crypto assets. USDX, unlike the initials suggest, the stablecoin is not pegged to the US dollar price, but rather it's fixed to the Kava's market flow.
Aside from USDX, Kava Lend (HARD) has another native cryptocurrency on its platform with the crypto coin ticker HARD. HARD is a token used within the Kava network to reward borrowers and/or deposit cryptos. Users can buy Kava Lend (HARD), which can be used for governance on the platform. Once users lock their crypto assets into Mint, which will be used as collateral, and when users begin borrowing against their locked assets, then will obtain HARD which will further give them access to other features. Extra liquidity and market exposures will be made available to all Kava Lend HARD holders. To receive more $HARD and $KAVA tokens as rewards, users can also deposit and borrow a wide range of crypto assets that are high priority.