What is Cedro Finance? Cedro Finance is a Cross-chain Lending & Borrowing platform built on LayerZero technology. To understand more about Cedro Finance, please join me in learning through the article below.
What is Cedro Finance?
Overview of Cedro Finance
Cedro Finance is a decentralized Cross-chain Lending & Borrowing platform using LayerZero technology. With Cedro Finance, users can borrow and lend from many different assets on many different blockchains with affordable fees, saving time and costs of moving assets from one chain to another.
Simply imagine, users can mortgage assets on blockchain A and borrow assets on blockchain B, but blockchain A, B and the assets must be supported by Cedro Finance.
The difference of Cedro Finance
In its product design, Cedro Finance also introduces to users a number of new features and products that are not yet popular on the market:
- Isolated Market Pools: This product allows Cedro Finance to support more risky assets for the market similar to how Solend is operating.
- Computation Offloading: This feature allows Cedro Finance to reduce calculations on smart contracts, leading to cheaper transaction fees.
Operating mechanism of Cedro Finance
We will take an example where Buu has assets in BNB Chain and wants to borrow from Arbitrum. After researching, Buu decides to use Cedro Finance.
Buu has ETH on Ethereum and wants to borrow USDC on Arbitrum to be able to farm on Jones DAO, the project’s operating mechanism will be as follows:
- Step 1: Buu deposits ETH into the pool on Cedro Finance on the Ethereum blockchain.
- Step 2: Cedro Finance will use LayerZero’s message passing technology from Ethereum to Arbitrum. The message is authenticated and transmitted successfully.
- Step 3: Buu will receive USDC on Arbitrum and participate in DeFi on Arbitrum.
- Step 4: When Buu wants to receive ETH on Ethereum, just follow the reverse steps.
Development Roadmap
Update…
Core Team
Update…
Investor
February 7, 2023: Cedro Finance successfully called for $1.5M led by Shima Capital with the participation of Infinity Ventures Crypto, Mask Network, Sam Thapaliya,…
Tokenomics
Overview information about Cedro Finance tokens
Token Allocation
- Community: 50%
- Core Team: 20%
- Private Investor: 20%
- Market Maker: 5%
- Public Sales: 5%
Token Release
- Community will be used for the purpose of developing Cedro Finance’s community such as Liquidity Mining, Incentive,… paid in installments within 4 years.
- Private Investor will be locked for 9 months and then paid in installments over 2 – 3 years.
- Core Team & Advisor will be locked for 9 months and then paid in installments over 3 years.
- The remaining 10% is for Public Sales and Maket Maker will be 100% open at the time of TGE.
Token Use Case
CED token holders can lock the token for a maximum of 6 months to receive 1 veCED and can even lock it longer to receive more veCEDs.
With veCED users can:
- Vote on important project proposals on direction, development roadmap,…
- Get more rewards from protocol revenue sharing.
veCED’s profits will be distributed as follows:
- Tresury: 65%
- CED and veCED holders: 25%
- veCED Holders: 10%
Cedro Finance’s Information Channel
- Twitter: https://twitter.com/cedro_finance
- Telegram: https://t.me/cedrofinance
- Discord:
Summary
Cedro Finance is a potential project on LayerZero’s ecosystem. However, facing many large competitors developing multichain, Cedro Finance faces many opportunities and also many challenges.