Kava is embarking on the next chapter of expansion with the introduction of the Kava Ecosystem, two years after the start of the Kava platform.
Kava Labs confirmed the establishment of a $185 million Kava ecosystem ignites fund on October 4th. Before providing the URL to their medium blog, the team announced the news in tweets.
According to the team, the Kava Ecosystem will utilize this cash to incorporate decentralized finance (DeFi) initiatives to create the most secure, genuinely scalable home for the future wave of mainstream DeFi users.
The $185 million Kava Ignition Fund, as per the team, will speed up this development by allowing best-in-class processes to be quickly released.
Kava Labs further claims that the chosen Kava ecosystem initiatives would reap several benefits. This includes the Kava SAFU fund, which has a highly scalable Layer-1 structure and institutional-grade security.
Scott Stuart, the CEO of Kava, also emphasized this step, noting the possibilities in DeFi.
There’s a massive opportunity in DeFi right now to be the first to bridge the gap between the early adopters and the untapped mainstream. The Ignition Fund is about getting Kava there first.
According to the team, the Kava Platform has also proven to be a safe, dependable, and accessible home for DeFi. This is due to the platform’s integration of three protocols, $2.1 billion in on-chain assets, and over 280k users. In addition, Kava has also handled $1.8 billion in cross-chain transactions to date.