Kava is a DeFi platform created in Cosmos. The features of the project are as follows: it was created to offer multi-secured loans and stable coins for crypto assets, to respond to the demand for lending in the DeFi category.

Kava news today, KAVA crypto latest news of token ticker

Kava

Kava is a DeFi platform created in Cosmos. The features of the project are as follows: it was created to offer multi-secured loans and stable coins for crypto assets, to respond to the demand for lending in the DeFi category. USDX [Kava] is a platform stablecoin that is used to pledge crypto assets.

USDX (Kava) news today, USDX crypto latest news of token ticker

USDX [Kava]

Kava Lend (HARD) is a token of a decentralized money market for lending and borrowing inter-network assets. HARD tokens, which are distributed as a reward, are blocked by a smart contract.

Kava Lend news today, HARD crypto latest news of token ticker

Kava Lend

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Someone bid up the USDX price on AscendEX for 5 minutes, causing the USDX price to act up. Meanwhile, the on-chain price rosed to $6 for 17 minutes per the 720 TWAP. Therefore, it led to lots of liquidations happening. Eventually, everything returned to normal.

All assets are safe, and none of the protocols was affected.