Kava announced a 14 million USD stimulus package for the Sushi development team

Kava will sponsor USD 14 million for the Sushi Project development team. As a result, Sushi users and developers will be welcome and gain access to the entire $300 billion market value on Ethereum and Cosmos from a single network.

Kava Network expands its incentive program to recr,uit industry-leading DeFi applications. Kava will allocate a stimulus package of USD 14 million as a daily reward for Sushi. The implementation of Sushi on Kava opens up a whole new set of DeFi products for users with attractive productivity, fast speed and optimal efficiency.

Last year, Kava launched the $185 million Ignition Fund to accelerate the development and support of promising DeFi projects and startups.

In March, Kava just created a $750 million Kava Rise relaunch package specifically for #BUIDLer, empowering DeFi app developers. It is expected that the project will provide 62.5% of block rewards to developers operating on the Kava Ethereum and Cosmos blockchains.

Kava is built on top of the Cosmos SDK, a platform for building public proof-of-stake (PoS) blockchains, with the goal of combining Ethereum and Cosmos into a single network. This allows developers to build and deploy applications on a single chain while still having access to assets available on Ethereum and Cosmos.

Scott Stuart, CEO of Kava Labs, shared:

“Sushi is one of the leading DeFi protocols on Ethereum and the industry as a whole. Combining Kava’s CoChain capabilities with Sushi’s dedicated developer community and the DeFi Blue Chip suite of apps will propel the entire ecosystem even faster.

A representative of Sushi also said:

“Kava Network is the only protocol that creates transparent runtime environments for Cosmos and Ethereum and rewards builders with direct ownership of the network. We admire this dedication of the builders. and look forward to working with Kava to create great things for the entire DeFi industry.”

Sushi is a multi-chain decentralized finance platform that started as a fork of the Uniswap decentralized exchange on Ethereum, but quickly became one of the few “blue chip” DeFi platforms by mid-2020. This ecosystem currently holds more than 2.1 billion USD TVL with over 30,000 monthly users and 14,740 asset trading pairs.

SushiSwap DEX has deployed on 13 different blockchains. Kava Network will be one of the first channels to integrate with Sushi.

On March 9, Kava added support for Ethereum CoChain’s Ethereum Virtual Machine (EVM) smart contract, allowing Ethereum developers to deploy decentralized applications (dApps) on Cosmos.

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Kava announced a 14 million USD stimulus package for the Sushi development team