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New DeFi Platform Allows Traders to Earn Yield on Bitcoin, XRP and Five Additional Assets

After Losing 7%, Ripple Struggles To Maintain Previous Support From September (XRP Price Analysis)

September 23rd 2020

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.

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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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Vladislav Schukin

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XRP vi.be Editor

XRP vi.be Editor

Editor at XRPvi.be, gathering information and insights about Ripple, XRP and related things from around the internet. Opinions deriving from any content do not represent ours. All content copyrights are with the original creators and holders. By clicking on the ‘source’ link you can visit the originating place of the content.

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