The testnet phase for Cashmere has concluded, so the focus should now switch to current and future mainnet activities.
Early users who participated in the testnet earned GOAT points, which may be used for future airdrop allocations.
Cashmere
Infrastructure
DeFi
Cashmere
Progress mission: 0 of 6
Rewards
Rewards
TBA
Past rewards
$1,700 $9,600
Details
Minimal cost
Free
Time required
15 min.
Category
Testnet
Rating
5/10
Risk
Low
Cashmere Labs is part of the Most Valuable Builder Season 6 Cohort by Binance. It got a seed investment from MH Ventures in late 2022, but the amount wasn't disclosed. It's part of the Layer Zero ecosystem. By joining Cashmere's activities, you also become active in Layer Zero.
Notable people like Bryan Pellegrino (CEO of LayerZero) and Stani Kulechov (CEO of Lens Protocol and Aave) follow the project on Twitter. This shows interest from important figures in the field.
Since it's in early stages, joining doesn't cost real money. This means you can be an early participant in Cashmere with no financial risk.
Pros & Cons
Why is it worth it?
Layer Zero Involvement
Integrated with the Layer Zero ecosystem.
Low Risk
No need to spend real money, reducing financial risk.
Time Efficient
Activities don't require much time to complete.
Binance Recognition
Awarded as a Most Valuable Builder in Binance's Season 6 Cohort.
Risks to consider
Unknown Seed Funding
The amount raised in the seed round hasn't been revealed.
Limited VC Backing
Lacks support from prominent venture capitalist funds.
How to participate?
Every opportunity has its own rules. Following these closely can significantly increase your chances of qualifying for rewards. Here’s a list of recommendations from our team to help maximise your chances of benefiting from this opportunity.
- User Data: There is no specific data available, like from Dune Analytics, because the network is still in the testing phase (testnet).
- Main Onchain Task - Bridging Tokens: Your primary activity is to transfer (bridge) tokens that you first get from a faucet (a source for free test tokens).
- Use Bridge Multiple Times: Try using the token bridge several times, spread out over different weeks, and across various networks. This diversification of activity is beneficial.
- Engage in Offchain Tasks: Besides the main onchain task, you can participate in various offchain activities, like completing quests.
- Consider Cashmere Retro Opportunity: You also have the option to engage in the Cashmere Retro Opportunity using real money. This is an additional task for those interested in expanding their involvement.