What Is Kava Swap (SWP)?
SWP is the native token of Kava Swap, which is an AMM-based decentralized exchange that allows users to swap crypto assets across different chains. The exchange has low transaction fees and provides high liquidity provider returns.
The Kava Swap tokens are used for governance purposes. This means that SWP token holders are able to participate in the decision-making processes considering the future development of the Kava Swap crypto project. If you want to see the live SWP price, check out the Kava Swipe price chart placed above.
However, Kava Swap is just a piece of a much bigger Kava DeFi ecosystem.
What Is Kava?
Kava is an all-in-one decentralized finance platform, which allows users to exchange, borrow, and lend digital assets, as well as earn yield. Since Kava aims to build a fully-equipped portfolio of decentralized products and services, it links the biggest cryptocurrencies, financial applications, and ecosystems into one place. The native governance token of the Kava platform is KAVA. Apart from Kava Swap, it also has such projects as Kava Mint and Kava Lend.
Kava Mint is a protocol that allows users to borrow USDX coins by utilizing their assets as collateral. USDX is a stablecoin that is pegged to the value of the US Dollar at a 1:1 ratio. Just like with the main Kava platform, the KAVA tokens are used to govern this protocol as well.
Kava Lend, as the name suggests, is a lending protocol. Users can either supply or borrow assets on Kava Lend. By supplying their assets to Kava borrow pools, users are able to generate rewards. In terms of borrowing, users can borrow against collateral and then re-supply these assets to borrow or swap pools in order to earn rewards (though they can also earn rewards simply by borrowing). This protocol has its own governance token – the HARD token.