[SIP-3]: The next chain to expand the Symbiosis protocol: Kava

Voting ended almost 3 years agoSucceeded

Context

Symbiosis protocol V2 was successfully launched, and it's time to grow.

The ultimate goal is to support every blockchain that is secure and gets market traction. Every new blockchain added to the Symbiosis protocol increases transaction volume and recognition of the protocol among users and investors.

The next candidate is Kava. Kava is a Layer-1 blockchain that combines EVM and Cosmos in a single, scalable network.

Proposal

Add Kava (EVM-side) to the Symbiosis protocol:

The stablecoin on Kava to operate will be Kava USDC.
Deploy and tune Symbiosis contracts on Kava.
Add support for the new blockchain in the Symbiosis protocol: the new stablecoin should be added to Symbiosis AMM DEX on our host chain, and the Symbiosis relayer network should start working with the newly added blockchain.

Add routing via DEXes on Kava. Start the reward program for providing liquidity (cross-chan farming) for Kava.

Key Rasonsons

Kava gets public attention: currently, its TVL is $198,7 mln, and more than 125 projects are working on it.
Kava EVM has all the necessary elements to become a part of the Symbiosis protocol: a good-looking stablecoin (Kava USDC), and DEXes for on-chain routing.
Since Kava EVM is an EVM-compatible blockchain, it is very easy to join this blockchain to the Symbiosis protocol. No time lag for additional development.
Kava EVM can be seen as an intermediate step to the Cosmos blockchain.
The Kava team is interested in collaboration with Symbiosis.
Every new blockchain added to the protocol potentially increases transaction volume conducted via the protocol that brings transaction volume and recognition of the protocol among users and investors.

Off-Chain Vote

Yes

89.55K veSIS99.5%

433.31 veSIS0.5%

Another chain

0 veSIS0%

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Timeline

Feb 13, 2023Proposal created

Feb 13, 2023Proposal vote started

Feb 16, 2023Proposal vote ended

Oct 26, 2023Proposal updated

Context

Symbiosis protocol V2 was successfully launched, and it's time to grow.

The next candidate is Kava. Kava is a Layer-1 blockchain that combines EVM and Cosmos in a single, scalable network.

Proposal

Add Kava (EVM-side) to the Symbiosis protocol:

The stablecoin on Kava to operate will be Kava USDC.

Deploy and tune Symbiosis contracts on Kava.

Add support for the new blockchain in the Symbiosis protocol: the new stablecoin should be added to Symbiosis AMM DEX on our host chain, and the Symbiosis relayer network should start working with the newly added blockchain.

Add routing via DEXes on Kava. Start the reward program for providing liquidity (cross-chan farming) for Kava.

Key Rasonsons

Kava gets public attention: currently, its TVL is $198,7 mln, and more than 125 projects are working on it.

Kava EVM has all the necessary elements to become a part of the Symbiosis protocol: a good-looking stablecoin (Kava USDC), and DEXes for on-chain routing.

Since Kava EVM is an EVM-compatible blockchain, it is very easy to join this blockchain to the Symbiosis protocol. No time lag for additional development.

Kava EVM can be seen as an intermediate step to the Cosmos blockchain.

The Kava team is interested in collaboration with Symbiosis.

Every new blockchain added to the protocol potentially increases transaction volume conducted via the protocol that brings transaction volume and recognition of the protocol among users and investors.