UPDATE: Speaking to AMBCrypto, CEO and Co-Founder of Kava Labs Brian Kerr welcomed the announcement. He said,
“It means a lot to get endorsed by CZ and Binance as the first DeFi platform on Launchpad.
The prospect of adding BNB and opening all the Binance Chain assets to our DeFi platform is very exciting.”
According to a recent announcement, Kava Labs’s KAVA token will be launching on Binance Launchpad via the airdrop format on September 23, 2019. A total of 326,087 KAVA tokens (approx 150,000 USD) will be airdropped, with the public sale token price at $0.46.
With a total cap of 100 million, Kava Labs will be the next token to be launched on Binance Launchpad and will see a flurry of users rushing towards this token due to two reasons. The first reason is the “Binance Effect,” whereas the second reason is due to the inherent nature of the KAVA token and the blockchain that it runs on.
There is definitely no better launch partner than @binance. We're really grateful to have their support. We have big plans to enable #BNB and bring our stablecoin to the @Binance_DEX following the launch of our DeFi platform.
P.S. It was so hard keeping this under wraps! https://t.co/hoYfVD5QDX
— Kava Labs (@kava_labs) October 16, 2019
Kava Labs’ first major development that caught the attention of the cryptospace was the Switch application, which helps users swap cryptocurrencies in the fastest and most secure way possible, across various blockchains. Apart from the above, Kava Labs also announced the development of an XRP-backed stablecoin and eventually, a new PoS blockchain with a plan to bring XRP and other assets to the Cosmos ecosystem, while providing DeFi services.
Further, Binance Launchpad’s tokens seem to have performed better than other IEO tokens from different exchanges. According to CryptoRank, the launchpad tokens have an average RoI of 100%, which is the highest when compared to others like Gate.io, OKEx, Huobi, or Kucoin IEOs.
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