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Kava Deploys Ethereum Developer Support on Testnet
EVM support will allow Ethereum developers to deploy dapps to Cosmos, which has been steadily gained popularity among users.
Updated May 11, 2023, 6:58 p.m. Published Mar 9, 2022, 7:55 a.m.
Kava added Ethereum Virtual Machine (EVM) smart contract support with the alpha launch, or first version, of its Ethereum Co-Chain, developers shared in a release on Tuesday.
- The EVM launch enables developers and decentralized applications, or dapps, from the Ethereum ecosystem to build and deploy on Kava. EVM refers to a virtual computer accessible anywhere in the world through participating Ethereum nodes.
- Kava is built on Cosmos SDK – a framework for building public proof-of-stake (PoS) blockchains – and aims to combine the Ethereum and Cosmos chains into a single network. This allows developers to build and deploy applications on a single chain that is accessible to users and assets of both Ethereum and Cosmos.
- Over 15 protocols will be deployed to the closed testnet of the Ethereum Co-Chain as part of the Kava Pioneer Program, including yield farming protocol Beefy Finance, yield aggregator AutoFarm, and liquidity protocol RenVM. These projects will test the interoperability between Kava's Ethereum and Cosmos Co-Chains prior to their mainnet launch.
- "Ethereum is still where the vast majority of developers and protocols are, but Cosmos is growing fast and it offers so much more in terms of scalability and interoperability,” said Scott Stuart, CEO of Kava Labs, in a prepared statement.
- Protocols launching on the Kava network will also be able to take advantage of its $750 million Kava Rise developer incentive program following the mainnet launch.
- The Kava Rise fund launched in early March after community votes. It would distribute 62.5% of all block rewards to developers building on the Kava Ethereum and Cosmos co-chains to support the growth of decentralized finance (DeFi) and non-fungible tokens (NFT).
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The NFT brand’s animated segments will air on the Sphere across Christmas week, signaling the crypto company's move into real-world consumer markets.
What to know:
- Pudgy Penguins will run an ad campaign at the Las Vegas Sphere during Christmas week, one of the few crypto brands to secure a spot at the high-profile venue.
- The NFT project, which launched on Ethereum in 2021, has expanded into physical toys and digital gaming as part of a broader consumer push.
- Pudgy Penguins briefly overtook Bored Apes in floor price earlier this year and recently launched its PENGU token on Solana, now trading on major exchanges.
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