The Kava Network team announced via Twitter on Monday that Ruby Finance has joined its Kava Rise program. Ruby Finance is building an algorithmic token pegged to USDC empowered by Co-Chain architecture on the Kava network. Kava Rise is a $750 million on-chain developer incentive designed to attract the most innovative developers to the Kava Network.
Kava aims to become the default DeFi platform by providing stablecoins and decentralized lending against all major crypto assets. KAVA is down by 3% in the last 24 hours and is trading at $1.671 at press time.