Kava Labs, which Focuses on Democratizing Financial Services, Establishes Security of Assets Fund for Users
Brian Kerr, Co-founder of
Kava SAFU Fund (Security of Assets Fund for Users).
Kerr noted in the update, dated Wednesday (April 28, 2021) that Kava SAFU Fund is an on-chain community pool that aims to enhance the overall safety of the Kava platform by “protecting against unforeseeable black swan events while giving users assurity that their funds are safe.”
Kerr added that the Kava SAFU community pool’s primary function is to “make users whole after events like unforeseen bugs, exploits, hacks, liquidation failures or other technical issues that result in lost user funds.” Kerr claims that these types of events have not happened on the Kava platform because of its architecture, “robust” testing, audits, and market monitor infrastructure.