HARD Version 2 Upgrade: Institutions Can Now Earn +25% APY On Bitcoin With Cross-chain Money Market

HARD Protocol, the world’s first cross-chain money market, is set for a major upgrade. In conjunction with protocol improvements, HARD will also introduce powerful new incentivization schemes with annual percentage yields of +25% available on BTC.

Version 2 of the HARD Protocol will offer significant changes and enhancements to the well-established money market. These changes will be geared to entice institutional players into the sector, taking the decentralized finance to the next level and furthering mainstream adoption.

HARD Protocol comes from industry leaders Kava, whose body of work includes some of the most trusted, flexible and powerful applications available anywhere on the DeFi market. Kava’s HARD Protocol is specifically tailored to the lending and borrowing of cross-chain assets. In version 2, several enhancements will become readily accessible for financial institutions that seek to explore the myriad of benefits that decentralized finance can offer.

HARD Protocol will create an option for the companies which hold the largest currencies in the world, including Bitcoin, to earn +25% APY without counter party risk. This bold and ambitious move is set to be a game changer for decentralized finance.

The HARD protocol V2 upgrade is set to occur on March 31st, 2021, at the same time as the Kava 5.1 public test net launch. At the conclusion of the test net event Kava 5.1 will roll out on the main net, further strengthening Kava and Hard Protocol’s appeal as the team seeks to bring cross-chain DeFi solutions to a global audience.

With HARD Protocol Version 2, lending and borrowing with variable interest rates will become available to all users. The upgrade introduces support for the distribution of HARD token, the governance token of the HARD Protocol. HARD will incentivize both liquidity providers and borrowers, further improving the effective yields offered to lenders on the platform. This will ensure that all users, lenders and borrowers alike, get a say in the ongoing governance and evolution of the platform.

As part of the HARD Protocol Version 2 upgrade, developers and end-users across a wide range of cryptocurrency asset types will, for the first time, have the ability to earn interest denominated in their native asset.

The HARD Governance model will also undergo some changes and enhancements. The HARD community of token holders will hold the power to update protocol parameters, add money markets for additional crypto assets, and update allocations of HARD token rewards in each money market, driving demand and usage through the built-in governance processes. This will not only help to grow the appeal of the HARD money market, but it will also further empower HARD Protocol users.

HARD Protocol continues to adapt to how retail users and financial institutions use the cross-chain money market, making it possible to earn superior yields on digital assets. Enhanced governance by the community plays a crucial role in those proceedings as HARD Protocol seeks to optimize the system even further. Hard Protocol will continue to evolve, upgrade, and make future changes through its decentralized governance process, ensuring that it will always suit the needs of its growing user base.

More details about HARD Protocol can be found at https://www.kava.io/hard-protocol

“This will be the largest milestone for the HARD Protocol to date. With thousands of users and millions of dollars in HARD’s money markets already, we expect this release to be a catalyst that will drive even further adoption of the HARD Protocol and make it a real contender in the DeFi space globally.” - Brian Kerr, CEO of Kava Labs