- Huobi DeFi Labs has partnered with Kava Labs.
- After their collaboration, Kava Labs has added a new use case of the HBTC asset.
- Holders can now stake and earn 8% of the HBTC asset until March next year.
Furthermore, the Kava Labs features an HBTC staking initiation program that shows the vital strategic cooperation between both parties. As a result, HBTC users can now stake HBTC effortlessly to earn almost 8% yield until March next year.
Also, by staking HBTC, holders can get Annual Percentage Yield (APY) of the said 8% with a total limit of 500 HBTC. In addition, users can use the HBTC asset within the HARD Protocol Money Markets to lend, borrow, and earn interest without hassle.
Moreover, Kava claims that it is planning to give away over 2.5 million KAVA as an incentive to individual users every year.
More so, Huobi DeFi Labs and Kava Labs have been working together from December 2019 up to date. They have joined their resources together to drive CeFi and DeFi-based solutions to meet the needs of the DeFi market.