Hard Protocol – a decentralized lending market based on Kava. Initially, it supports deposits in BTC, XRP, BNB, BUSD, USDX, in the future it will also support loans with excess collateral. The HARD token is a proprietary protocol management token that is also planned to be used as a reward for liquidity providers.
The project is supported by industry giants Binance, Bitmax.
From November 3, 2020, the HARD token is available for farming within the Binance Launchpool platform. The distribution involves users who have invested in BNB, KAVA or BUSD pools and hold them for up to thirty days. Listing and opening of trading in pairs HARD / BTC, HARD / BNB, HARD / BUSD and HARD / USDT are scheduled for November 6 (9:00 Moscow time).
Introducing @hard_protocol $HARD на #Binance Launchpool!
Earn HARD by depositing $ BNB, $ BUSD and $ COFFEE! 💥📆 Users will be able to place their tokens in separate pools to receive HARD tokens within 30 days.
More details: https: //t.co/sXKLiCgJPU pic.twitter.com/apuEBpr8rp
– BinanceRussian (@BinanceRussian) November 2, 2020
We offer an overview of the Hard Protocol and the HARD token from the editorial staff of Bitcoinminershashrate.com.
The content of the article
Hard Protocol is a cross-chain money market that provides an opportunity for decentralized earnings on cryptocurrency assets. In particular, it will provide users with the opportunity to earn with coins such as BTC, KAVA, BNB, XRP, BUSD, USDX. Security measures are fully provided by the Kava blockchain (validators, bridges for transferring funds, partner services such as Chainlink oracles).
Three types of work with the protocol:
Since the Hard Protocol is built on Kava, it has access to any asset on the Kava blockchain. In addition, being an open and unrestricted application, the protocol is available to anyone anywhere in the world. Various crypto-exchanges, fintech applications and other financial institutions can freely integrate Hard Protocol money market instruments and provide opportunities for earning and lending to their users.
Initially, the developers of the Hard Protocol considered the possibility of using KAVA tokens to control the application. There are three reasons why this option was abandoned:
For providing security and cross-chain, the Hard Protocol infrastructure (and other applications on this blockchain) should theoretically compensate Kava’s stakers. Therefore, users of the Binance exchange will be able to receive a certain amount of HARD tokens as a bonus for the Kava deposit.
Any modern decentralized finance applications must provide incentives for users to ensure that the application continues to evolve and maintain an appropriate level of decentralization. The HARD token acts, firstly, as an incentive, and secondly, for the distribution of voting rights among community members. All of its holders are collectively responsible for managing important protocol parameters, such as setting the level of fees or determining the rewards between all supported assets. HARD tokens will also be used to incentivize early entrants.
The maximum emission of HARDs is 200,000,000 pieces. Distribution:
Release schedule:
On November 3, 2020, the distribution of the HARD token on the Binance Launchpool began, which will last for 30 days. Supported pools:
Soon (November 6), the listing of the token on Binance is planned.
Pros:
Minuses
The Hard Protocol is, in a way, a logical addition to the full-fledged DeFi ecosystem currently emerging around Kava. Provides interesting opportunities for borrowing and lending popular currencies on flexible terms. The Kava community is one of the most active in the crypto environment and is therefore well suited to launching new projects.
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