CheddaPrice

(CHEDDA)

There are two primary projects sharing the name. Chedda Finance is a DeFi lending protocol on the Base and Ethereum networks focused on collateralizing niche assets like NFTs and GameFi tokens. In contrast, the Chedda Token is a community-driven 'culture' project involving e-commerce, metaverse experiences, and live events. While they share a name, they serve different functions: one is a technical financial utility, while the other is focused on community growth and brand ecosystem.

The original Chedda Token (V1) suffered a security incident in 2022. The project was subsequently 'saved' by its community and relaunched as V2 under a decentralized DAO. A specific 50-day claim window was established for V1 holders to transition to the new version. Following the conclusion of this period, unclaimed V1 tokens were slated for burning. V1 tokens no longer hold value or utility within the current ecosystem.

The Chedda community token utilizes a 3% transaction tax to maintain its ecosystem. Of this, 1% is typically burned, creating a deflationary mechanism that reduces the total supply over time. The remaining 2% is allocated toward marketing and ongoing development. These funds support the project's roadmap, which includes e-commerce initiatives and metaverse events, ensuring the community-led project has the resources to expand its reach and utility.

vCHEDDA is the governance-specific asset for the Chedda Finance lending protocol. To participate in protocol governance, users must lock their CHEDDA tokens, receiving vCHEDDA in return. This allows users to vote on critical platform decisions, such as determining which new tokens are added to the isolated lending pools. This system ensures that the protocol's development and asset selection are driven by its most committed participants.

Chedda Finance utilizes LayerZero technology to enable cross-chain capabilities, allowing users to move assets between Ethereum and the Base network. To address the security risks inherent in DeFi, the protocol's smart contracts have been audited by Hashlock. The platform operates using isolated lending vaults where users can supply idle crypto to earn interest, providing a structured environment for borrowing against niche assets like AI and GameFi tokens.

Chedda tokens can be traded on centralized exchanges like LBank or through decentralized platforms on Ethereum, Base, and Solana. To avoid confusion between the two projects, verify the contract addresses: Chedda Token (V2 Ethereum) is 0xa110260a67fbbb6226f563844eeaf29e8c018bb7, while Chedda Finance (Base/ETH) is 0xAA74BE45C0e21c105b7981C6E6FdFd946dc49f27. Always use reputable blockchain explorers to confirm you are interacting with the correct asset before performing a transaction.