The multichain borrowing and lending platform setup Chee Finance plans to launch on the mainnet Meter. It will launch for both non-fungible tokens and ERC20 protocol. It has been testing a testnet since 19 January 2022, and over 10,000 addresses have already interacted with it. The team at Chee Finance is constantly developing and improving the protocol during this testnet period.
The goal is to provide its users a permissionless, safer and easy to use financial market. It has almost all features needed to launch its mainnet. It won the prize of ethereum hackathon of Meter. The company will become the initial borrowing and lending protocol on this Meter blockchain. The mission is to improve the Meter market by offering an important decentralized finance tool.
Chee Finance Will Soon Announce the launch date of Chee token. It plans to go live and start operating on BNB SmartChain, Celo and Meter. The mainnet is working at the website app.chee.finance. Meter supported three markets include Wrapped USD Coin, Wrapped Binance USD and Wrapped Tether. Additional markets, such as Meter-based tokens like Meter Governance will go online after oracles like Witnet and Band Protocol become operational on Meter within next few weeks.
Chee Finance has plans for launching Chee Bridge that lets users transfer Chee Tokens to the supporting blockchains. Other plans include providing veNFTs or Vote-escrow NFTs support. These NFTs are compliant with the ERC-721 protocol. They represent the governing rights of DeFi protocols like boosting, voting and return staking rewards. It is a major step for crypto industry. The company plans to continue with the enhancements and optimizations in the borrowing and lending infrastructure.