Introducing Kava Rise: Cosmos USDt Incentive Program
Back in March 2022, Kava DAO set an ambitious goal: to allocate $750M to on-chain developer incentives, marking an unprecedented commitment to the builders of its network. Recognizing the invaluable contribution of high-quality developers to the long-term success of Layer-1 blockchains,
Kava introduced the Kava Rise: Rewards Program, which uses a unique programmatic funding model designed to onboard innovative developers.
With its unique approach to ownership and incentive distribution, the program has since proven highly successful, supporting the deployment of over 100 protocols on Kava and a dramatic boost in Total Value Locked (TVL). In light of Tether’s July 3rd decision to make Kava the gateway for native USDt on Cosmos, Kava wants to return the support to the Cosmos ecosystem via Kava Rise: Cosmos USDt Incentive Program for Cosmos chains.
What is the Kava Rise: Cosmos USDt Incentive Program?
Building on the success of the Kava Rise: Rewards Program, in which partner projects receive rewards based on their contribution to TVL, on July 7th, Kava is submitting Proposal #148 requesting a vote to create a new USDt IBC deposits incentive program. If approved, the Kava Rise: Cosmos Incentive USDt Program will begin on August 1st, 2023, allowing Cosmos chains with the top ten USDt IBC deposits to receive pro-rata incentives.
The program extension maintains the vision of the original initiative. It creates an exciting opportunity for leading Cosmos chains to bootstrap stablecoin liquidity within their ecosystem and earn a share of monthly KAVA rewards.
Empowering Builders, Driving Adoption
Kava’s mission is to become the go-to decentralized Layer-1 blockchain integrating the speed and interoperability of Cosmos with the developer power of Ethereum. Tether’s choice to make Kava the gateway for native USDt on Cosmos accelerates the pursuit of this ambitious goal.
The result? An acceleration in the growth of the entire Cosmos ecosystem and a boost to both new and existing Cosmonauts. The Kava Rise: Cosmos USDt Incentive Program represents a new chapter in Kava’s commitment to Cosmos developers and the community. It’s time to rise and build.
