Location, December 5, 2024 — Chedda Finance, a cross-chain lending platform designed for AI, agents, memecoins, and emerging markets, has announced an extension of its public testnet contest. Initially set to conclude earlier, both the testnet contest and Zealy Sprint will now run until December 12, 2024. This extension aims to provide more time for thorough testing, feedback collection, and community participation as the platform approaches its highly anticipated mainnet launch on BASE.
Chedda Finance’s testnet on the BASE Sepolia network marks a significant milestone in its mission to simplify cross-chain lending and borrowing. The platform, which supports a broad range of assets across multiple networks, allows users to earn rewards, supply assets, and borrow crypto in a secure and efficient way. The extension of the testnet contest gives participants additional time to explore Chedda’s core features, optimize their lending strategies, and climb the contest leaderboard.
Since the launch of the testnet, Chedda Finance has focused on encouraging active community participation to fine-tune its platform. Users are invited to supply assets, borrow, and stake their testnet LP tokens to earn points.
The contest’s extension ensures that participants can maximize their points and increase their chances of being recognized as top contributors. Contestants can register their participation, track their progress on the leaderboard, and compete to win rewards in XP and potential to receive $CHEDDA tokens when the token launches. This initiative not only rewards users for their involvement but also reinforces Chedda Finance’s commitment to creating a robust and reliable lending platform.
The decision to extend the contest and Zealy Sprint reflects Chedda Finance’s dedication to quality and user experience. By allowing more time for testing, the platform can ensure that all core features operate seamlessly. These features include:
- Isolated Lending Pools – A key innovation that differentiates Chedda from traditional lending protocols. Assets are grouped into isolated pools based on risk profiles, enabling the platform to support a wider array of tokens, including those from AI, agents, memecoins, and emerging markets. This structure enhances risk management by preventing one asset’s volatility from affecting the entire pool.
- Cross-Chain Lending Hub – Chedda’s cross-chain functionality enables users to bridge tokens from any blockchain to BASE, facilitating a unified lending experience. This eliminates liquidity fragmentation and provides seamless access to assets across networks.
- Auto-Compounding Rewards – Users who supply assets can earn auto-compounding interest without the risk of impermanent loss. This feature makes Chedda a compelling platform for liquidity providers looking for stable returns.
- Direct Liquidity and $CHEDDA Emissions – Chedda allows liquidity providers to lock their $CHEDDA tokens to secure lending pools. In return, they direct new token emissions and earn additional rewards. This mechanism ensures a balanced and incentivized ecosystem.
The additional testing period also allows for the integration of feedback from partners such as DIA and Thirdwave Labs. DIA’s reliable price feeds enhance the security of lending pools by providing accurate asset data, while Thirdwave Labs’ analytics tools deliver insights into user behavior and wallet activity, supporting the platform’s growth and user experience improvements.
Participating in the Testnet Contest
Participants can follow a clear series of steps to engage with the Chedda testnet and earn rewards:
- Get Testnet Tokens – Users need BASE Sepolia testnet ETH and tokens like USDC and cbBTC.
- Supply Assets – Supply assets in lending pools to accrue interest and points.
- Borrow Assets – Use supplied assets as collateral to borrow crypto and enhance their positions.
- Stake LP Tokens – Earn $CHEDDA rewards by staking testnet LP tokens.
- Lock $CHEDDA – Lock $CHEDDA tokens to boost rewards.
- Register Participation – Secure a spot on the leaderboard for a chance to win the contest.
The extension allows participants more time to execute these steps strategically and fully experience the platform’s features.
As the platform moves closer to its mainnet launch on BASE, the insights gained from the testnet and community feedback will help shape a more robust product. Chedda’s innovative approach to lending, which includes support for AI, agents, and memecoins, positions it as a versatile hub for the evolving DeFi landscape.
About Chedda Finance
Chedda Finance is a cross-chain lending platform designed for AI, agents, memecoins, and emerging markets. The platform allows users to supply assets, earn interest, and borrow crypto in isolated lending pools and features cross-chain token support. Chedda aims to create a comprehensive money market hub that supports assets on any network. Built on BASE, Chedda Finance offers features such as auto-compounding rewards, direct liquidity options, and a unique $CHEDDA emission mechanism controlled by token holders.
For more information, visit chedda.finance.
Conatct:
hello@chedda.finance
Address – Via España, Delta Bank Building,
Suite 604D, Panama City,
Republic of Panama
