What Is Kava Lend (HARD)?
HARD is the governance token of Kava Lend, which is a cross-chain lending protocol built on the Kava platform. It features Kava borrow pools to which lenders can deposit their assets, this way generating rewards in HARD tokens. Borrowers can then borrow the assets from the pools against collateral.
For being a part of the Kava Lend crypto project, borrowers are also rewarded with Kava Lend coins. Besides, they can re-supply the assets they borrowed to the swap or borrow pools and increase the rewards.
As mentioned before, the primary use case of HARD tokens is governance. This means that Kava Lend token holders have the right to vote on a variety of decisions considering the future of the Kava Lend crypto project. However, besides that, HARD tokens also serve as reward tokens within the Kava Lend protocol, since they are rewarded to lenders and borrowers.
If you’re interested in the current HARD price, check out the Kava Lend price chart above.
What Is Kava?
As was already stated, Kava Lend is built on a decentralized finance platform known as Kava. It provides users with an environment where they can exchange, borrow, and lend crypto assets, as well as earn yield. The platform's native governance token is called KAVA as well. Along with the Kava Lend protocol, there’s also Kava Mint and Kava Swap.
Users of the Kava Mint protocol are able to borrow USDX coins by utilizing their assets as collateral. USDX is a stablecoin pegged to the price of the US Dollar at a 1:1 ratio. Kava Mint is governed by KAVA token holders.
Kava Swap is an AMM-based decentralized exchange. It allows users to make cross-chain token swaps. The exchange offers significant liquidity provider returns and charges minimal transaction fees. Kava Swap is governed using SWP tokens.
