🔖Main Functions of Token @kava
🔖Governance:
Token holders $KAVA have the right to propose and vote on changes and improvements to the Kava network, including changes to protocol parameters.
🔖Network Security:
Token #KAVA plays a role in network security with the Proof-of-Stake (PoS) mechanism that supports the stability and operation of the blockchain.
🔖Reserve Currency:
KAVA serves as a reserve currency when the system experiences a shortage of collateral for loans, helping to maintain the platform's liquidity.
🔖How to Use KAVA
You can use KAVA by:
Depositing KAVA as Collateral:
KAVA can be used as collateral in the CDP (Collateralized Debt Position) system to borrow USDX stablecoins on the Kava platform.
🔖Participating in Governance:
By holding KAVA, you can participate in the governance process to shape the future of the Kava Network.
🔖Staking:
You can also stake KAVA tokens to earn yields, contribute to network security, and receive rewards.