KAVA launches $750 million developer incentive programIssuing time:2022-03-04 11:34Source:jinse Caijing On March 4th, the cross-chain DeFi platform KAVA announced that KavaDAO has decided to allocate $750 million for developer incentives and announced the incentive plan "KavaRise". The program aims to continue bringing the most innovative developers from the DeFi, GameFi and NFT verticals to the Kava network.
KavaRise uses a programmatic funding model where ownership of the funds belongs to the developers, and 62.5% of the allocated block rewards are distributed to developers building on the Kava Ethereum and Cosmos joint chain, making Kava the first truly owned blockchain Builder-owned network. In addition, the remaining 37.5% of block rewards are allocated to Stakers. The KavaRise program will kick off with the Kava10 upgrade, which will launch the Ethereum and Cosmos joint chain on the mainnet and enable developers to deploy live versions of Ethereum and CosmosSDK-based dApps on the Kava network. The program will reward top projects on Kava’s combined Ethereum and Cosmos chains with 200 million KAVA over 4 years, split between the two chains. Rewards will be granted transparently on-chain based on usage. At launch, the structure of the Rise program will primarily focus on driving adoption and growth of the new Ethereum federation chain. It may be adjusted through KAVA governance votes as the process progresses. Participating builders need to register the protocol with DeFiLlama, and have at least $10,000 in TVL deployed on KavaNetworkEthereumCo-Chain or CosmosCo-Chain at the time of monthly distribution, and the top 100 DeFi protocols will receive a proportional monthly reward distribution based on usage . The official encourages the use of KAVA distribution as a protocol incentive for protocol users on Kava, which will increase TVL and can get more KAVA rewards in the next cycle. TVL is calculated by official measurements from DeFiLlama.com, an aggregator of Kava ecosystem partners. Second, 5 million KAVA will also be distributed to developers of NFT and GameFi projects on the two joint chains in a programmatic, usage-based model. KavaDAO will soon vote on how usage is calculated and the exact structure allocated to NFT and GameFi developers. The DAO can also adjust the amount allocated to this pool if the vertical drives heavy usage of the network. |
