Hover logo
WebsiteDAOMaker Launchpad

Hover (HOV)

IDO

Hover is an institutional-quality lending protocol deployed on the Kava EVM.

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Overview

Project industryCrowdfunding & Lending
Product typeDeFi
WhitepaperHover White Paper Open

What is Hover

Hover is a non-custodial liquidity market built on the Kava EVM. It empowers users to rise above market volatility by engaging in permissionless lending and borrowing of digital assets. Users can lend assets to earn yield or borrow assets to gain leverage, all without relying on a third party.

Deposits and withdrawals on Hover can be made instantaneously, providing a low-friction source of liquidity for users and dApps that wish to build atop Hover’s liquidity pools.

Interest rates on Hover are dictated by supply and demand, providing uninterrupted insights into the market lending rates.

Prior to launch, early adopters can earn enhanced yields with boosted APY by depositing in Hover’s Genesis Pools for a limited period.

Lending on Hover is overcollateralized, where the amount that can be borrowed is determined by the market value of the underlying collateral. Borrowers can use their constantly updated Health Factor to assess their borrowing risk.

Details

IDO (DAOMaker Launchpad): Feb 14, 2024 - Feb 14, 2024
Token supply: 1,000,000,000 HOV
Hard cap: 3,270,000 USD

Legal

Blockchain Platform: KAVA
Country limitations: Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands) and any non-government controlled areas of Ukraine
Registration year: 2023

Token info

Ticker: HOV
Type: Utility-token
Token distribution:
Liquidity Incentives - 20%
Core Contributors - 18%
Private Sale - 11.4%
Public Sale - 3.6%
Protocol Owned Liquidity - 7.5%
CEX Liquidity - 4.5%
Reserves - 5%
Partnerships - 8.5%
Ecosystem - 5%
Kava Foundation - 5%
Development Fund - 4%
Genesis Pools - 3%
Advisors - 3.5%
Bug Bounty - 1%

Hover Roadmap

1
Q1 2024
  • Close early-access Genesis Pools
  • IDO and TGE
  • Full launch of Hover's lending protocol with market borrowing and liquidations
  • Drive the most competitive rates and incentives with ML-backed risk monitoring
  • Architect Phase 2 vault strategies
  • Begin working with core partners (e.g. Rome Blockchain Labs, Ledger Works) on Phase 2 technology
2
Q2-3 2024
  • Expand Hover's market share on Cosmos through strategic partnerships and an enhanced user experience (UX)
  • Cultivate a community of Hover innovators to support Phase 2 and Phase 3 ideation
  • Build and test closed-alpha stage Phase 2 technologies
  • Explore under-collateralized lending solutions using on-chain identity and credit
  • Onboard additional Hover team members (quants, BD leads, etc.) to drive operational efficiency
3
Q4 2024
  • Deploy Phase 2 open beta fixed-yield strategies
  • Launch Hover Research education division to bring relevant DeFi insights to the community
  • Utilize Kava Chain’s Cosmos SDK for cross-zone deployment of core Hover technologies to further expand market share

Social media

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MVP

MVP URL

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