Cedro, an Omnichain lending platform based on LayerZero, launched the testnet. Users can earn rewards for completing testnet tasks and providing feedback on the use of the testnet.
Cedro Finance is a cross-chain decentralized liquidity protocol where users can lend and borrow the listed assets. Lenders are able to deposit their assets to contribute to the liquidity of the platform and borrowers are able to borrow the liquidity in an overcollateralized manner.
The platform introduces an innovative unified liquidity token, CULT, to guarantee the availability of liquidity for the protocol. In addition, the platform aims to reduce gas costs by moving some calculation operations (e.g. interest rate calculation, tracking different assets, tracking different positions and liquidation, etc.) into the Root contract.
Cross-Chain
Lending
DeFi
