Kava SAFU Fund Introducing
Kava Labs introduced $Kava SAFU Fund, an on-chain community pool that will increase the overall safety of the Kava platform by protecting against unforeseeable black swan events while giving users assurity that their funds are safe.
The Kava SAFU community pool’s main function is to make users whole after events like unforeseen bugs, exploits, hacks, liquidation failures or other technical issues that result in lost user funds.
The Kava SAFU Fund will be created through a one-off inflationary event where 10% of Kava’s current token supply will be minted and held within the Kava SAFU Fund.
“Over the long run, the creation of the Kava SAFU fund is a net positive for the overall DeFi ecosystem. By giving assurance on compensation in the case of a black swan event helps instill further confidence for Kava’s DeFi platform.” — Michael Ng, Co-founder of StakeWith.Us
What is Kava Labs?
Kava Labs is a developer of the Kava blockchain, the first cross-blockchain DeFi platform.
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