Binance IEO Kava (KAVA) Delays Its Mainnet Launch


Kava (KAVA), a DeFi platform that offers decentralized leverage and hedging of major cryptocurrencies, was forced to delay its mainnet launch on Tuesday due to chain validator coordination issues.

According to the announcement, the Kava mainnet launch was scheduled to occur on November 5 at 9:00 AM EST. However, in the hours preceding and following the planned launch, there were significant communication issues between network validators.

The root cause of the problem seems to be a patch that was applied to the genesis file at around 3:00 AM on November 5. Validators needed to be made aware of the updated genesis file to restart their nodes prior to the launch, and it seems that some validators missed the memo. This resulted in errors such as double signing and abhorrent blocks.

“In the immediate aftermath, it is clear that releasing the genesis file 24 hours before launch, and making an update 6 hours before launch, greatly increased the risk of launch failure,” states the Kava team in the announcement. “Further, although we conducted a successful testnet launch with a code-frozen version of Kava prior to mainnet launch, many validators did not participate using production systems, which left us vulnerable to risks particular to those systems. In the coming days, we will conduct a post mortem of what occurred and take steps to address and correct these issues going forward.”

Kava plans to retry the mainnet launch on November 12 at 9:00 AM EST.

As a result of the delay, KAVA is currently down 8.5% on the day to $0.99, giving the token a $6.7 million market cap.

More: Kava Mainnet Launch Failure Pre-mortem

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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