Protocols in the Cosmos ecosystem have seen a significant amount of growth in 2022 due to the intensifying focus on blockchain interoperability and compatibility with the Ethereum network.
One protocol that has seen a buildup in momentum since the middle of March is Kava, a project that is developing a co-chain architecture for the Cosmos and Ethereum network.
Data from Cointelegraph Markets Pro and TradingView shows that the price of Kava’s native token KAVA has climbed 72.3% after hitting a low of $2.92 on March 13 to establish a daily high of $5.03 on April 8.
KAVA/USDT 1-day chart. Source: TradingView
Three reasons for the increase in price and momentum for KAVA include the Ethereum Co-Chain beta launch, the launch of a $750 million developer incentive program and a series of partnerships and protocol launches that have expanded the size of the Kava ecosystem.
Ethereum Co-chain beta launch
One of the most anticipated developments to come out of the Kava ecosystem was the successful completion of the alpha phase of the Ethereum Co-chain launch.
Ethereum Co-Chain Alpha was AMAZING!
Beta is LIVE & already a powerhouse.
Mainnet launches May 10th, 2022! #Kava #EVM pic.twitter.com/tnfyAkeLoN
— Kava Network (@kava_platform) April 7, 2022
The Ethereum Co-Chain enables support for Ethereum Virtual Machine (EVM) smart contracts while the Cosmos Co-Chain enables support for the Tendermint consensus engine and the Inter Blockchain Communication Protocol (IBC). A translator module connects the co-chains and allows for seamless interoperability between the networks.
The mainnet launch of the Ethereum Co-Chain is expected to take place on May 10.
Kava launches a $750 million developer incentive program
A second reason for the building strength of KAVA was the March 3 launch of Kava Rise, a $750 million developer incentive program designed to help onboard developers from decentralized finance (DeFi), gaming and nonfungible projects into the Kava community.
Kava Rise is an on-chain incentive mechanism that will distribute 62.5% of all block rewards to developers who are building on Kava’s Ethereum and Cosmos Co-Chains…