Pinjam.KavaPrice

(PINKAV)

Pinjam.Kava (PINKAV) is a Web3 decentralized finance (DeFi) project that functions as an overcollateralized lending protocol. Its primary purpose is to allow users to lend and borrow cryptocurrencies. Lenders can earn interest by providing liquidity to the platform, while borrowers pay interest on the assets they obtain. A distinguishing feature of Pinjam.Kava is its approach to maximizing capital productivity. It achieves this by allocating unborrowed funds to other established blue-chip protocols. This strategy aims to generate additional yield for lenders, augmenting the interest they receive from typical borrowing activities. The project operates on the Kava network, making it the first network in Pinjam's intended multichain strategy. The team behind Pinjam, including Joseph Saw, Syahir Amali, and Shawn Benedict, began developing the project around September 2022. The PINKAV token was launched on the Kava network on June 16, 2023, with the Pinjam Protocol itself going live three days later on June 19, 2023. Looking ahead, the Pinjam protocol plans to expand across multiple blockchains. This expansion will involve the introduction of native, non-bridgeable Pinjam tokens on each respective network, which is intended to facilitate chain-specific governance and liquidity mining programs. The PINKAV token plays a crucial role within the Pinjam ecosystem. Its utility includes being staked or locked to earn revenue generated from various protocol activities, such as borrowing. This revenue also incorporates yield from unborrowed funds put to work and incentives specific to the network. Furthermore, PINKAV is used to cover fees and distribute rewards within the platform. The token's design, or tokenomics, for the Kava network specifies a total supply of 50,000,000 PINKAV. A significant portion, 50%, is designated for incentives for lenders and borrowers, distributed over five years. Another 10% is allocated as incentives for PINKAV-KAVA liquidity providers on the Equilibre platform, also over a five-year period. Community airdrops are also part of the token distribution strategy. The Pinjam protocol's architecture is based on concepts from other established DeFi platforms like AaveV2, Yearn, and Beefy, aiming to create a fully on-chain fractional reserve money market. Users who lend and borrow on Pinjam are eligible to receive token rewards, which may be subject to a vesting period, typically around three months, with an option for early withdrawal that might incur a penalty. Learn more

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