Kava is including sushi in its developer incentive program by providing a total of $14 million in daily rewards for sushi and kava, split equally.
- "Using Sushi on the Kava network unlocks a new set of DeFi products for DeFi users that enable high-yield farming with maximum efficiency and speed," according to a blog post from Kava Labs, a decentralized finance (DeFi) company.
- Sushi and the Kava Ignition Fund will provide up to $7 million over 90 days as part of the partnership, for a total of $14 million.
- Kava launched its $185 million Ignition Fund last year to support DeFi projects and bring new projects on board.
- "The $750 million Kava Rise Incentives program enables developers on Sushi to build exciting new DeFi applications and opportunities for users," the blog states.
- Through this partnership, Sushi users and developers will have seamless access to the entire $300 billion market value of Ethereum and Cosmos through a single network for the first time.
- The Kava Rise fund was launched in early March. It is expected to distribute 62.5% of all block rewards to developers building on the Kava Ethereum and Cosmos co-chains to support the growth of DeFi, play-to-earn blockchain games (GameFi), and non-fungible tokens (NFTs).
- The Kava network will be one of the first chains to offer sushi incentives beyond the main Ethereum network and into the Cosmos ecosystem, the blog post states.
- Kava is based on the Cosmos SDK - a framework for building public proof-of-stake (PoS) blockchains - and aims to unify Ethereum and Cosmos chains into a single network. This will allow developers to build and deploy applications on a single chain that is accessible to both Ethereum and Cosmos users and assets.
- Sushi is a decentralized multichain financial platform that began as a fork of Ethereum-based decentralized exchange Uniswap, but quickly became one of the few "blue chip" DeFi assets in the mid-2020s.
- On March 9, Kava added support for Ethereum Virtual Machine (EVM) smart contracts to its Ethereum co-chain, allowing Ethereum developers to deploy decentralized applications (Dapps) on Cosmos.