Chee Finance testnet was launched on January 19, 2022. It has now been running smoothly for more than three months. During this time, Chee Finance has hosted a number of initiatives to encourage users to participate in testnets and share their valuable feedback with us. To be clear, we received over 10,000 unique addresses that tried our testnets. At the same time, our team has constantly been improving and developing Chee Finance, aiming to provide users with a safer, less permission-focused, and easy-to-use money market.
Thanks to our users’ opinions, Chee Finance testnet has achieved all the features required for the mainnet launch.
About Chee Finance Mainnet
We are pleased to announce the launch date of our advanced multichain lending protocol after nearly 6 months of research, development, and hard work. Chee Finance's Mainnet will go live on the Celo, Meter, and BNB Chain networks on May 21st, 2022.
Chee Finance will be the first lending protocol on Celo with cBTC, WBTC, and WETH liquidity.
About veNFT Support
Vote-escrowed NFT (veNFT) is ERC721-compliant and is intended to fully represent the governance rights of the DeFi protocols, such as voting, boosting, and returning staking rewards. In terms of NFT utilisation, veNFTs are a significant step forward for the industry. Whereas In most DAOs, governance votes are represented by the number of tokens held in a wallet, for protocol with veNFTs, governance votes are represented by the number of tokens held within veNFT.
Chee Finance will be the first protocol to accept veNFT as collateral and lend cheeTokens in exchange. Each cheeToken will be pegged to the original governance token locked in veNFT in a 1:1 ratio. As a result, veNFT holders can obtain instant liquidity on Chee Finance.
Chee Bridge
Chee Finance Bridge is one of the most powerful Meter Passport-powered tools. It allows users to transfer their cheeTokens among the supported blockchains to have a more pleasing experience of a permissionless money market. We have not yet issued the cheeTokens for more information. The TGE will take place right before the IDO/IEO, and the date will be announced soon.
What is Next?
We will continue to enhance and optimise the lending/borrowing infrastructure. There are many exciting features to be included in the coming versions. Some of the upcoming plans include:
DeFi LP NFT Support
We will accept additional types of Non-Fungible Tokens as collateral. Aside from veNFTs, we are working on DeFi LP NFT support, such as Uniswap V3 LPs.
HiCHEE NFT Collection
We have already integrated our lychee-based mascot (HiCHEE) with our protocol. The next step is to design our NFT collection, which will be available on Ethereum or Solana.
To create the best NFT collection with unique use cases, the Chee Finance team is working on research, design, and KOL marketing.
Cross-Chain Collateral
We are working on advanced cross-chain integration using protocols like Cosmos and Polkadot, as well as bridges like Stargate, to achieve a smooth and permissionless lending and borrowing experience.
Join Chee Finance Community
We would like to thank our amazing partners and community for your support along the journey. We’ll keep building at full speed ahead and welcome everyone to build the future of Chee Finance with us.
Stay tuned for updates from our social media channels:
Website: https://chee.finance/
Twitter: https://twitter.com/CheeFinance
Mirror: https://mirror.xyz/0xDE5710e2A9f657893a4cE47953dFdC846a1E9109
Telegram: https://t.me/CheeFinance
Discord: https://discord.gg/8U7vnAYSJh