Hover’s ‘Project Lever’ brings real yield to Kava
Hover announces the launch of ‘Project Lever’ - a DeFi infrastructure within the Hover ecosystem that provides real yield for investors.
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January 30th, 2023 – London – Today, during a Twitter space hosted with the Kava network, Hover announced the launch of Project Lever — the first DeFi staking solution on the Kava Chain that offers real yield across several vault strategies such as fixed yield staking, leveraged staking, volatility hedging, and more.
Users can now deposit their funds into permissioned ‘Smart Wallets’ with different Vault Strategies thatdetermine how the funds will be allocated. Hover will then deploy a strategy for each wallet to maximize This will be achieved via fixed yield, hedging against USD, and leveraging validator income through liquid staking.
‘Project Lever’ prevents Hover fromon token emissions. Instead, Hover’s ecosystem can retain its TVL, providing users with further security and use cases.
During the Twitter Spaces, Hover core contributor Vincent Wu pointed out that the DeFi summer exposed risks and shortcomings that investors paid the price for in the bear market. In 2020, many DeFi projects offered APY through excessive token emissions, which was beneficial while token pricesThis method quickly became a problem as investors soon realized the yield they received devalued the value of their increased supply being introduced into the market.
As DeFi grows, investment solutions and tactics need tothe market and investors. With the crypto market growing and stabilizing, DeFi must provide sustainable investment solutions to cater to the larger retail populace. Hover does exactly that. It doesn’t aim to compete with other DeFi platforms that promise quick, high APY on token emissions, will likely depreciate due to increased total supply. Hover promises sustainable which will benefit DeFi users who are not used to building their own strategies.
“Would you invest your moneyan asset with a 1000% interest rate if they had a fund that promised 100% APY? Probably not, since this rate is much lower than the underlying interest rate,” said Vincent Wu, Hover’s core contributor. “Sadly, and overlook the token emissions model. Defi users sometimes lean towards platforms offering the highest fail to see that a system relying solely on emissions and increasing token supply cannot guarantee long-term rewards. emissions to find real-yield opportunities, building a stable and secure DeFi ecosystem.”
Hover Medium article published the announcement. More information on Vault Strategies will be announced in due course.Project Lever and its mechanisms in a
Hover is built with a simple barometer Kava that integrates an innovative approach to lending and borrowing with in-protocol rewards, rebates, and a platform-free rewards mechanism. Hover’s mission is to create accessible, secure, and democratic DeFi solutions. Hover’s integrated tokenomics model provides enterprise-grade decentralized finance services for individual users and investors. With eight HOV staker tiers, loyal Hover users receive borrowing and liquidation rebates and participate in governance. Those who undergo Hover’s KYC process can also join Hover’s rewards program, reaping a share of protocol fees. At the same time, Hover secures user funds with 24/7 market risk monitoring, using real-time qualitative and quantitative financial data to assess risk parameters.success, reclaiming financial freedom for all. Hover is a non-custodial lending and borrowing platform on
Learn more at hover.market.