💡Introducing Chedda Finance
These docs explain what Chedda Protocol is and how it works. They are meant to give a general overview of the platform with a level of technological detail.
Last updated
These docs explain what Chedda Protocol is and how it works. They are meant to give a general overview of the platform with a level of technological detail.
Last updated
For information on how the app works, check out App documentation.
Chedda is the cross-chain money market hub where tokens from any network can be supplied to earn interest and used as collateral for crypto loans.
The first generation of lending protocols such as AAVE and Compound have a single cross-collateral pool, where any asset can be supplied or borrowed against any other asset in the pool.
Money markets on Chedda Finance consist of isolated lending pools, in which assets are siloed based on their risk profile. This enables us to support a wider array of tokens as collateral.
This also allows us to create pools for specific niches, such as DeFi, GameFi, AI or Memes. Read more about how isolated pools work on Chedda.
There is a proliferation in blockchain networks. Earlier generation dapps address this by deploying a separate instance of their protocol and dapp to each supported chain. This leads to fragmentation in liquidity and technical inefficiencies.
Chedda solves this problem by introducing cross-chain tokens in which tokens on any chain can be bridged to Chedda's base chain and used in our lending pools.
Read more out how cross-chain tokens work on Chedda below.
$CHEDDA is the utility and governance token of the protocol which also provides an incentive layer for the protocol. $CHEDDA token emissions are used to incentivize actions on the protocol, and these emissions are in turn controlled by $CHEDDA token holders.
Learn more about the $CHEDDA rewards system below.
Chedda Finance brings all these core ideas together on one platform. Our goal is to create a cross-chain money market hub that becomes the destination for DeFi lending for tokens on any chain.