Hover Announces Upcoming Launch of Genesis Pools
LONDON , Nov. 13, 2023 (GLOBE NEWSWIRE) —
Hover, the next-generation lending protocol, has announced that its Genesis Pools will open on November 21, 2023. Genesis Pools are deposit pools that open prior to the protocol’s launch, offering increased yield to early participants.
A flagship lending protocol built natively on Kava, Hover is positioned to provide institutional-grade DeFi solutions to strengthen the Kava ecosystem. The Genesis Pools mark Hover’s initial pre-launch product deployment in conjunction with its strategic round and followed by its public sale. The platform is set to open its lending markets in Q1 2024.
Users can participate in the Genesis Pools by depositing KAVA, ATOM, or USDt. Kava was selected to be the first Cosmos zone to host native USDt, deployed earlier this year. These three pools will be open for deposits by early adopters for a limited period. Hover has set 3% of their total token supply, 30,000,000 $HOV, to reward users who participate in the Genesis Pools. Depositors will receive staked $HOV, $esHOV, based on the size of their deposit and the time they remain in the pool.
Genesis Pool participants are rewarded with increased APY throughout this limited period. As rewards accrue, those who deposit on day 1 will receive the maximum yield. Launching November 21st, users have the opportunity to receive Genesis Pool rewards until the culmination of this event after the full protocol launch in Q1 2024.
Hover combines real-time, dynamic risk-management and integrated, novel tokenomics to deliver a secure and sustainable liquidity market, facilitating lending and borrowing of blue-chip assets between users of all backgrounds: institutional-grade lending with retail accessibility.
Aileen Dauz, Core Contributor at Hover, stated “Our community has been critical to building Hover’s success so far. We’re excited to launch Hover’s Genesis Pools to continue that mutual success with those that have championed Hover from our inception. We invite everyone to join our growing community, take part in Hover’s premiere launch event, and be rewarded for being among the first within the Hover family.”
Hover is a next-generation, non-custodial liquidity market that facilitates the lending and borrowing of digital assets for institutions and DeFi savvy individuals. Native to the Kava ecosystem, Hover supports the growth of Cosmos. For more information, visit: https://hover.market
CONTACT: press at hover.market
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