Kava

Kava was co-founded by Brian Kerr, Ruaridh O’Donnell and Scott Stuart in 2018. That’s when the founders established Kava Labs, a for-profit company whose goal is to develop and drive the creation of the Kava platform. The Kava team next held a token sale on the cryptocurrency exchange Binance in 2019, at the time raising $3 million through the sale of 6.5% of the total KAVA supply.

Kava is a cross-chain DeFi platform which supports multiple applications and services for cryptocurrency users. Kava's blockchain provides a safe and secure environment for DeFi apps and services to run.

Some of the benefits of using Kava are:

DECENTRALIZED LOANS AND LEVERAGE
The main product of the Kava platform is decentralized loans. All Kava users gain open access to loans, leverage, and stablecoins for hedging. In this way, Kava acts as a powerful tool for investors in the market.

SECURITY
This crypto also plays an integral part in maintaining the network’s security. Users stake KAVA to accomplish this task. Notably, only the top 100 nodes in the network validate blocks in this system.

STAKING
Stakers in the network hold a couple of responsibilities as well. Aside from securing the blockchain, these users can further stake their holdings utilizing bonding curves of network validators. Malicious nodes can lose their Kava.

For holders of the KAVA token, one option to earn staking rewards is by depositing your tokens at a staking service that supports KAVA.

Direct competition to Kava which are considered similar coins are:
XRP