PONTEM x KANA LABS: WATERSIDE WEDNESDAY RECAP
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Kana Labs is a cross-chain DeFi aggregator founded by Karthik Subramanian and Parthasarathy Ramanujam. Kana Labs is committed to simplifying the process of cross-chain transactions for its users, enabling them to seamlessly maximize their earnings.
Maximizing DeFi Yields: How Kana Labs is Changing the Game
Currently, cross-chain transactions are known for being slow and complex, making it difficult for users to maximize their yield through trading, swapping, staking, yield farming, or lending. Kana Labs aims to change this by providing a platform that enables cross-chain transactions seamlessly and efficiently, allowing users to achieve their financial goals with ease.
The team at Kana Labs is dedicated to empowering users, whether they are new to the space or experienced professionals. By making cross-chain transactions simple, fast, and cost-effective, Kana Labs is opening up a world of opportunities for individuals and institutions in the DeFi space.
Kana Labs' user-friendly platform streamlines the process of cross-chain transactions, reducing the complexity and time-consuming nature of the process. With just a couple of clicks, users can achieve any kind of cross-chain transaction, maximizing their yield and reaching their financial objectives.
Unleashing the Power of Cross-Chain Transactions with Kana: Faster Speeds, Lower Costs, and Minimum Slippage
At its core, Kana is a network of aggregated bridges like Wormhole, and layerZero. Kana also intends to integrate Bridges like Celer and other proprietary bridges that are used for specific blockchain networks. Additionally, Kana is integrated with different blockchain networks such as Aptos and Solana and plans to expand into EVM-based chains such as Polygon and non-EVM-based chains such as Sui in the near future.
By aggregating these different networks, cross-chain transactions between any two networks can be performed in the fastest and most cost-effective manner possible. Kana uses a routing algorithm to push the transaction through the fastest path and at the lowest cost, with minimal slippage. This is achieved by working with different aggregators on different networks, such as Jupiter on Solana and 1inch on Ethereum, to get the best rates and prices for the end user.
One of the key advantages of Kana is that it is faster than going directly through the bridge interface. This is because the platform connects directly to the back end of the bridges, bypassing any intermediaries, and by aggregating more bridges, the platform can achieve better prices and speeds in real-time.
Thanks to the routing algorithm which constantly monitors the performance of different bridges, if a bridge is experiencing issues, the app can automatically switch to another bridge to complete the transaction.
Kana Labs' Roadmap: Staking and Yield Vault Features Take Center Stage
Kana Labs has a robust roadmap in place for the next few months, with a focus on integrating with popular chains such as Polygon, Sui, and Tron.
Additionally, the team is working with partners in the DeFi space such as Pontem and Satay Finance to integrate their services to its backend engine via its SDK to facilitate cross-chain transactions on their respective platforms.
Another exciting development is the integration of staking and yield vault features, allowing users to stake and deposit any token on any network, with all the necessary conversions and processes handled in the backend. This will greatly simplify the user experience with these complex protocols and provide more options and flexibility.
Making Big Strides in User Adoption
Kana Labs is continuously striving to improve its offerings and is working on increasing user adoption. Launched just a few weeks ago, the platform has already seen impressive daily swap volumes on its Aptos chain, with approximately 1 million swaps happening every day.
The cross-chain transactions have been slow to start, with only 10-15 transactions happening per day. However, what is most surprising is the direction of these transactions; 70% of the cross-chain transactions are happening from Aptos to Solana, rather than the other way around as initially anticipated.
The anticipated integration on EVM compatible chains is expected to be a game changer for Kana Labs, as it is expected to drive significant traffic from Ethereum users looking to directly swap their ETH for APT. However, with the current liquidity being on EVMs, Kana Labs chose to tackle the more complex non-EVM chains first, with a view of expanding to Polygon and Ethereum in the future.
Bringing 20 Years of Fintech Experience to the Crypto Space: The Story of Kana Labs
The founders of Kana Labs, Karthik, and Parthasarathy bring a wealth of experience and unique insights to the world of crypto. With over 20 years of experience in the financial industry, including insurance, Forex, and stock brokering, they were well-versed in traditional finance but drawn to the potential of blockchain technology.
Their journey into the world of crypto was not driven by a desire to trade cryptocurrencies, but rather by their fascination with the decentralized and open-sourced nature of blockchain. Parthasarathy, an early Ethereum developer in India, was a firm believer in the future of blockchain and successfully convinced Karthik to join him in exploring this uncharted territory.
They founded their own company in 2015 as a blockchain services provider, delivering projects for clients across the US, UK, and Australia. Their expertise in fintech and passion for decentralized technology eventually led them to build their product on Solana and Aptos, solidifying their presence in the crypto space.
Balancing Decentralization and Realities of Business
With the growing popularity of cryptocurrency and decentralized technologies, there is a noticeable pattern emerging, where the founders and administrators of centralized platforms are becoming prominent players in the crypto space.
This trend has raised concerns about the authenticity of decentralization and has been observed not only in the Western world but also in countries such as India. Kana Labs, a platform dedicated to promoting DeFi and decentralization, subscribes to these ideals, yet recognizes the realities of operating a successful business.
The team acknowledges that complete decentralization may not be feasible in the immediate future, and as such, is collaborating with governments to establish policies and frameworks for web3 that enable as much decentralization as possible within the current framework.
Kana's Journey to Token Release and Platform Expansion.
Kana Labs will soon be releasing its native token, with three key use cases: governance, staking, and monthly dividends. Token holders will have the ability to participate in governance decisions, earn rewards through staking, and receive monthly dividends in the form of stablecoins. Furthermore, token holders will also be eligible for discounts on transaction fees charged on the platform.
Kana has recently launched its web app, which is currently its primary focus. While they do have a basic beta version of a mobile app, it is not yet a fully completed version. However, the Kana team has plans to bring the same functionalities present in the web app to the mobile app, including cross-chain swaps and yield vaults.
The future of the mobile app, however, remains uncertain due to the constantly changing policies of Apple and Google. For example, Apple currently does not allow NFT listings or display within wallet apps unless payments are made through Apple Pay.
Despite these challenges, there is recent good news in the industry that could present a potential opportunity for the company. The announcement of side loading on iOS allows for bypassing the App Store, potentially opening up new avenues for collaboration. Hence, there is a possibility that we will embed the Kana app into our Chrome extension and potentially even the mobile app, should Apple policies allow it.
Combining Expertise for a Smarter Cross-Chain Solution
One of the obstacles faced in cross-chain transactions is the need for multiple wallets, which can be inconvenient and hinder user adoption. To address this, Kana Labs envision developing a cross-chain wallet that facilitates communication between different wallets, streamlining cross-chain transactions.
We recognize the potential for collaboration between Pontem and Kana Labs in this venture, as we are both interested in tackling the technical aspects and developing a timeline for implementation. This presents a thrilling chance for us to make yet another significant contribution to the cryptocurrency industry.
The integration of the Pontem wallet and the impressive progress made by the Kabs Labs team serves as a promising starting point, and we look forward to realizing the full potential of this project.
Kana Labs: A Name with Purpose
Kana Labs chose its name with great intention and significance. The word "Kana" is derived from the Tamil language and means "dream message". This name was chosen to reflect the team's dream to build their product and make a mark in the world.
The team's commitment to their vision is reflected in the name they have chosen, as it not only has a deep personal connection to their mother tongue but also conveys their aspirations for their company. Furthermore, the simplicity and pronounceability of the name Kana make it a unique and memorable moniker.
In an increasingly competitive and globalized world, the team at Kana Labs has chosen a name that sets them apart and symbolizes their unwavering commitment to realizing their dreams.
Exploring the Paradox of Aliens and AI: Perceptions in Conflict
The topic of aliens has been a point of interest for people for centuries. While the idea of extraterrestrial life has captured the imagination of many, the views on this subject have changed over time.
20 years ago, the popular TV series, "The X-Files," fueled the belief that aliens could be real and among us. However, the portrayal of aliens in movies and TV shows over the years has changed the way we view them. They have been depicted in a more comedic manner, which has diminished the serious nature of the subject in the eyes of the public.
Artificial Intelligence (AI) is another topic that has gained significant attention in recent years. Unlike the views on aliens, the view on AI is more optimistic. It is widely believed that AI is here to stay and will only become more advanced in the future. The development of AI has already changed many aspects of our lives, and it is expected to play an even more prominent role in the lives of future generations.
However, there are concerns about the increasing reliance on AI. As AI becomes more advanced, there are fears that people will become more dependent on technology, making them lazy and less intelligent. The advancements in AI have made many tasks easier, but there is a danger that it could lead to a situation where humans are no longer making decisions for themselves.
ABOUT KANA LABS
Kana Labs is a cross-chain bridge aggregator that caters to all key DeFi needs such as swapping staking, farming, lending, borrowing, and more across multiple networks.
Kana Labs has integrated Pontem Wallet. Hence users can access all of Kana Labs's DeFi solutions and support for various DeFi functionalities directly from the pontem wallet.
Check out this blog post to find out how to make swaps in Kana Labs Web App using Pontem Wallet.
Pontem is a product development platform that enables global financial inclusion through blockchain technology. Pontem is developing infrastructure and decentralized tools for the fastest and most scalable Layer 1 blockchain – Aptos
The Pontem Wallet is the gateway to the Aptos ecosystem available for Chrome, Firefox, and iOS. Pontem Wallet users can send and receive tokens, connect to decentralized applications, and explore the Aptos ecosystem.