Deploy Synapse to Kava EVM, $750M Kava Rise Incentive Program

Chinopaisa

Kava proposes deploying Synapse on the Kava Network to earn a significant of developer incentives and establish itself as the #1 cross-chain protocol throughout the Cosmos/IBC ecosystem.

Summary

Kava will help drive value to the SYN token and its users by extending Synapse to Kava EVM and therefore eventually all major Cosmos blockchains and fueling growth with Kava’s $750M Kava Rise developer incentive which Synapse should take a significant portion of with it’s usage.

Kava’s mainnet has been live since early 2018 with no downtime or exploits, demonstrating proven resiliency and scalability via its native suite of top-tier DeFi products. In that time, Kava has onboarded 1.9M+ unique addresses and processed more than $2B in cross-chain transactions without issue.

The Kava Network has built on that foundation by merging the industry’s two most used permissionless ecosystems — Ethereum and Cosmos — in a single, developer-optimized Layer-1 network. Kava implements a unique co-chain architecture (like Avalanche c-chains) that allows for seamless interoperability between the two environments.

Kava’s Ethereum co-chain has successfully launched and the massive $750M Kava Rise developer incentive program is now LIVE.

50+ Ethereum DeFi protocols like Curve & SushiSwap have now onboarded. This is an exciting opportunity for Synapse to deploy onto Cosmos ecosystem.

Incentives

With the Kava Rise Program, the Kava Network is implementing a unique and transparent on-chain incentive model for developers and ecosystem projects. The Kava Rise program will programmatically distribute $750M in Kava over 4 years to projects based on TVL.

The groundwork has already been set, all that’s left is for Synapse to deploy onto Kava and start earning programmatic rewards every month which will accrue value to the SYN holder and user.

Kava and Synapse are aligned in together bringing Synapse to Kava’s co-chain ecosystem and the Cosmos ecosystem broadly, with the goal of cementing Synapse as the crosschain protocol of choice across the Cosmos and driving value to the Synapse community for years to come.

Kava community statistics:

Twitter Followers (@kava_platform 16): 175K+
Telegram Members: 29K+
Learn more about the Kava Network: https://www.kava.io/

Googly

Very interesting, thank you.

Just to make sure I understand Kava Rise, the incentives for protocols are simply calculated as the total incentive for the month (1m currently) x the protocol's share of Kava's total TVL on Defillama over that month?

I am just mindful that under Defillama methodology, if Synapse has a bridge pool with let's say nUSD/USDC on Kava, half of that TVL (ie nUSD) would unfortunately be attributed by Defillama to TVL on Ethereum instead of counting towards Kava (on the basis that nUSD is in essence backed by the liquidity pool that originates by Synapse on Ethereum so unless it us hosted on another protocol, it does not accrue TVL on the chain) so it does create a bit of a weird dynamic for Synapse given not full value is counted towards KAVA TVL.

Thank you!

Chinopaisa

Googly

Hey!
Yes, that's correct. We take your share of TVL, and distribute an equal proportion of rewards every month (currently 1m Kava/month, but will increase). So if Synapse had 10% of total TVL on Kava, Synapse and its users would get 10% of the rewards for that month. We take a weighted average of TVL for the month of course.

Regarding the nUSD issue, while I am not sure how DefiLlama attributes TVL to nUSD specifically, yes, overall, whatever TVL is attributed to Synapse on the Kava chain is the amount of rewards Synapse and its community would get for that month.

It might be worth speaking with DefiLlama to see if it would make sense for them to count the nUSD TVL on Kava if indeed it is on the Kava chain. Although I know they usually don't count wrapped bridged assets.

Hope that helps!