News01 October 2021

Cosmostation to become the First Recipient of $185M Ignition Fund from Kava Labs

Cosmostation to become the First Recipient of $185M Ignition Fund from Kava Labs

Summary

· Kava Labs announces Cosmostation as the first recipient of Ignition Fund

· Funding to help turn Cosmostation stable swap into a DEX and AMM

· Kava plans to benefit from the experience the Cosmostation team

Open-source and non-custodial developer of DeFi financial products and services, Kava Labs, has announced that Cosmostation will be the first recipient of Ignition Fund to build on Kava Ecosystem.

This means that Cosmostation will receive part of the $185 million funds from Kava. This will help to turn the Cosmostation stable swap into a DEX and AMM under and exclusive to the Kava ecosystem. The Kava ignition fund will accelerate the development of stable swap, ensuring it meets Kava’s high security and user experience standards. The fund will also offer liquidity during the launch to ensure Cosmostation can provide a high-end user experience from the beginning.

Bringing Cosmostation on board as a partner and developer will be a significant value addition for Kava.

"Cosmostation is exactly the type of project we want adding value to the Kava Ecosystem. They have been building compelling products quietly for years, and we're thrilled to have them join our mission of building a home for mainstream DeFi." - Scott Stuart, Kava Labs CEO.

Kava plans to benefit from the Cosmostation team's experience in building reliable, streamlined end-user DeFi products and enterprise-level network validation. This will help Kava to meet its goal to deliver safe, reliable DeFi services to users.

Kibet Elikana
Write a comment