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Introduction
Chedda is a DeFi lending protocol that supports collateralizing both fungible and non-fungible cryptocurrency tokens in risk isolated lending markets.
Chedda's design opens up new options for unlocking liquidity in any tokenized assets including NFTs.
We aim to be at the forefront of the push to unlock liquidity in all types of crypto and real-world assets.
Among Chedda's key innovations are isolated token vaults, collateral support for various token standards (ERC-20, ERC-721, ERC-1155), protocol governance through VE token.
Lending markets on Chedda protocol consist of isolated token lending vaults, in which assets are siloed based on their risk profile.
This is in contrast to other DeFi lending protocols such as AAVE and Compound, where all assets and collateral are placed in a shared pool.
The key advantage of this structure is asset risk can be isolated to specific token vaults, whereas with shared lending pools asset risk is spread across the entire protocol.
This is what allows Chedda to support different token standards as collateral, as riskier assets such as low-market cap fungible tokens and NFTs can be isolated from less risky assets such as ETH and BTC.
Read more on the isolated token vaults here.
Chedda is the first DeFi protocol with support for for ERC-20, ERC-721 and ERC-1155 tokens as collateral within the same token vaults. ERC-20 token support is standard across most DeFi protocols. Support for ERC-721 and ERC-155 tokens is emerging in newer DeFi protocols such as Fungify and BendDAO. However, Chedda is the first DeFi protocol that supports all above mentioned token standards under the same roof.
Governance of Chedda Protocol is through the voting escrowed token veCHEDDA.
CHEDDA token holders must stake and lock their tokens for a period of time to mint veCHEDDA which is used to vote in governance proposals.
Governance decisions include directing the emission of CHEDDA tokens and defining the structure of assets in lending pools.
Last modified 19d ago