Kava’s Ethereum co-chain alpha Testnet focuses on EVM smart contracts & MetaMask wallet support.
Kava’s Ethereum Co-Chain Alpha testnet has been a huge success!
Over 370,700 blocks were created on the alpha testnet, and 162,500+ EVM transactions were processed between more than 12,000 wallet addresses with no downtime!
Kava supercharged the Ethereum Co-Chain Alpha with some unique developer incentives. The Pioneer Program has already seen more than 32 protocols sign up to stress-test Kava’s EVM compatibility.
Kava has reached the quarter-way mark towards its goal of supporting 100 protocols by the end of 2022!
Projects already deployed include Connext, Vee Finance, DexPad, Photonswap, Linkkey, Ruby Finance, and OpenBiSea. With the upgraded infrastructure of the Ethereum Co-Chain Beta now live, 20+ more protocols will be enabled to deploy before mainnet.
These are just a handful of the projects coming to Kava, bringing a combined TVL crossing $8.71 billion and 700K+ users to #KavaSquad.
Kava Network Mission
The successful implementation of Kava’s core EVM functionality marks a critical milestone in the network’s mission to become the best hub for builders with the power of Ethereum and the speed and interoperability of Cosmos.
The Ethereum Co-Chain Alpha primarily focused on testing core EVM functionality, including the deployment of existing EVM smart contracts and MetaMask wallet support.
The Etherum Co-Chain Beta that launched on April 6, 2022, took things a step further, implementing essential secondary EVM infrastructure to unlock full EVM functionality for the Kava Pioneers.
With full EVM functionality, builders on Kava will now be able to access oracles powered by ChainLink, subgraph indexing supported by The Graph, and various backend DEX & AMM smart contracts that will allow liquidity protocols and yield aggregators to deploy. Let’s review why that’s a big deal.
Chainlink & the Kava DeFi Suite
Oracle providers like Chainlink ($LINK) provide an interface between data suppliers and data recipients. These “oracles” provide data to fulfill smart contracts across different chains and in third-party applications. Without oracles, smart contracts across disparate blockchains would have severe difficulty talking to each other.
The Kava DeFi Suite (Swap, Mint, and Lend) has been using Chainlink for price feed data since 2020. The Beta makes Chainlink oracles available to unlock access to a huge variety of crucial cross-chain data for protocols deploying on the Ethereum Co-Chain.
Kava’s upgraded EVM functionality also unlocks The Graph ($GRT), a project that enables protocols to easily query data that would usually be hard to obtain quickly from the blockchain. Some of Kava’s Pioneers, like Beefy Finance, rely on tools like The Graph.
The Graph allows users to construct and publish subgraphs that make data open to anyone. Originating from Ethereum, The Graph is a decentralized system for indexing and querying data from blockchains.
Decentralized Exchange Contracts
Decentralized exchanges (DEXes) are one of the foundational building blocks of DeFi.
Unlike traditional markets, DEXs do not require a centralized middleman to settle trades. Instead, users are rewarded for supplying liquidity to smart contracts that enable automated settlement of trades directly between buyers and sellers.
Next up, Mainnet!
With the Ethereum Co-Chain Alpha a huge success, and the Beta already underway, there’s only a few weeks left before the Ethereum Co-Chain goes LIVE on the Kava Network mainnet on May 10, 2022.
And the mainnet launch is just the beginning! With the Ethereum and Cosmos Co-Chains live, Kava will be ready to onboard 100+ protocols in its quest for $10B+ in TVL in 2022.
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