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BCH $518.84 (-5.7%)
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Huobi DeFi Labs Partners With Kava Labs to Expand HBTC Usage

Huobi DeFi Labs Partners With Kava Labs to Expand HBTC Usage
  • 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.

Huobi DeFi Labs has recently announced a partnership with Kava Labs. Under this collaboration, Kava Lab has added new easy-to-understand features to the Huobi DeFi Labs’ native currency. 

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.

Best of all, Kava Lab has added HBTC on its DeFi network to drive more exposure to the HBTC asset. For this reason, the mass adoption of DeFi products is expected to increase.

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.

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Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.