Binance Launchpool, a new initiative designed to bring the decentralized finance (DeFi) experience to Binance users and where users are able to acquire new token rewards in return for staking, today announced its new project - Hard Protocol.
Hard Protocol is a decentralized, cross-chain money market, enabling the supply and borrowing of assets like BTC, XRP, BNB, BUSD, KAVA, and USDX. Hard Protocol will utilize the Kava blockchain’s security, price feeds, and cross-chain functionality to provide open and decentralized financial services to the world. Deployment of HARD will mark a major expansion of the Kava DeFi platform, solidifying its position as the industry leader in cross-chain DeFi.
During Hard Protocol participation in Launchpool, users will be able to stake their BNB, BUSD, or KAVA tokens into separate pools to farm HARD tokens, starting from 2020/11/03 at 0:00 AM (UTC). Binance will then list HARD into the innovation zone at 2020/11/06 at 6:00 AM (UTC) and open trading for HARD/BTC, HARD/BNB, HARD/BUSD and HARD/USDT trading pairs.
"It took us years and millions of dollars to build, but we finally laid the foundation for a wide range of novel cross-chain DeFi apps to be built on Kava. Thanks to this work, HARD Protocol, the world's first cross-chain money market is made possible and will usher in a new wave of digital asset lending, borrowing, and earning." - Brian Kerr, CEO of Kava Labs.
“The first money market on Kava Chain is currently bridged to Binance Chain and we are happy to support its development on Launchpool”, - said Binance CEO and Founder, CZ (Changpeng Zhao). “We look forward to working together with both Hard Protocol and the Kava Labs team”.
For more information about Hard protocol, read the in-depth report provided by Binance Research.