Chedda Expands Testnet with Enhanced Features and Increased Reward Opportunities
Chedda, the cross-chain money market hub for decentralized lending, has expanded its ongoing testnet phase, introducing enhanced functionalities and increasing reward opportunities for participants. The testnet continues to serve as a proving ground for Chedda’s key innovations, including isolated lending pools, cross-chain interoperability, and its unique veToken mechanics. As user participation grows, the platform has introduced additional incentives, reinforcing its commitment to providing a seamless and efficient decentralized finance (DeFi) experience.
The Chedda testnet allows users to engage with the platform’s lending and borrowing mechanisms in a risk-free environment while earning $CHEDDA token rewards. The testnet leaderboard tracks participants based on their accumulated token value, with top performers recognized for their strategic use of the platform’s financial tools. By refining user experience and ensuring robust security measures, the testnet continues to pave the way for a successful mainnet launch.
Chedda’s cross-chain functionality enables users to bridge assets from any network to BASE, facilitating lending, borrowing, and staking. The platform’s isolated lending pools differentiate it from traditional money markets by containing asset-specific risks, offering liquidity providers more control over their exposure. Participants can earn auto-compounding interest on supplied assets, unlock liquidity by borrowing against collateral, and stake their LP tokens to receive additional rewards.
The testnet expansion introduces optimizations to Chedda’s veToken model, which allows $CHEDDA holders to lock their tokens in isolated pools to direct emissions and secure lending pools. This mechanism serves as the final backstop in shortfall events while enabling liquidity providers and token lockers to maximize their earnings. The updated testnet experience provides deeper insight into how these features will function in the mainnet environment.
Participants continue to engage in various activities to increase their standing on the leaderboard, including supplying and borrowing assets, staking LP tokens, and locking $CHEDDA tokens. The evolving testnet ensures a competitive and dynamic environment, rewarding strategic participation and reinforcing Chedda’s position as a next-generation DeFi lending solution.
As an award-winning protocol, Chedda has been recognized for its contributions to decentralized finance. The platform secured first place in the DeFi Innovator Award at the Oasis Bloom Hackathon and achieved second runner-up status at the Telos Spark EVM Hackathon. These accolades reflect the platform’s technical advancements and commitment to building a more efficient and accessible financial ecosystem.
The Chedda testnet remains open for participation, providing users with the opportunity to explore its lending, borrowing, and staking mechanisms while earning rewards. With ongoing updates and an expanding user base, the testnet continues to refine the platform’s core functionalities ahead of its mainnet deployment.
About Chedda
Chedda is a cross-chain money market platform designed to facilitate decentralized lending and borrowing for assets across multiple blockchain networks. By implementing isolated lending pools, advanced veToken mechanics, and seamless cross-chain compatibility, Chedda optimizes liquidity provision while minimizing systemic risks. The platform empowers users to earn rewards through lending, staking, and liquidity provision while maintaining full control over their assets.
For more information, visit chedda.finance.