Chedda Finance Extends Testnet Contest to December 12 

Location,
December
5,
2024

—
Chedda FinanceChedda Finance“>

Chedda
Finance,
a
cross-chain
lending
platform
designed
for
AI,
agents,
memecoins,
and
emerging
markets,
has
announced
an
extension
of
its
public
testnet contesttestnet contest“>

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 testnetChedda Finance’s testnet“>

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:

1. 
   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.
2. 
   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.
3. 
   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.
4. 
   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 testnetChedda testnet“>

Chedda
testnet

and
earn
rewards:

1. 
   Get
   Testnet
   Tokens
   
   –
   Users
   need
   BASE
   Sepolia
   testnet
   ETH
   and
   tokens
   like
   USDC
   and
   cbBTC.
2. 
   Supply
   Assets
   
   –
   Supply
   assets
   in
   lending
   pools
   to
   accrue
   interest
   and
   points.
3. 
   Borrow
   Assets
   
   –
   Use
   supplied
   assets
   as
   collateral
   to
   borrow
   crypto
   and
   enhance
   their
   positions.
4. 
   Stake
   LP
   Tokens
   
   –
   Earn
   $CHEDDA
   rewards
   by
   staking
   testnet
   LP
   tokens.
5. 
   Lock
   $CHEDDA
   
   –
   Lock
   $CHEDDA
   tokens
   to
   boost
   rewards.
6. 
   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 chedda.finance“>

chedda.finance.