Cashen, the bilateral marketplace for locked Canton Coin delegations, has passed 50 platforms onboarded, marking a significant milestone for the Canton Foundation member.
Cashen connects CC holders with Super Validators and Featured Applications that need locked CC to meet their participation requirements on Canton Network. Suppliers delegate their CC, earn fixed yield, and retain full custody throughout, with no principal credit risk. Super Validators can access new locked capital or refinance existing locks to unlock liquidity while maintaining tier continuity. Featured Applications satisfy governance requirements in a capital-efficient way, negotiating terms that fit their specific needs.
Each deal on the platform is bilaterally negotiated and fixed at origination, covering the CC amount, fixed APR, minimum lock period, recall notice period, and a breach rate that applies if a recall goes unresolved. Interest accrues per Canton Network round, approximately every ten minutes, with monthly settlement via off-platform invoice. Fully on-chain settlement is planned for Phase 2. Live accruals are visible on the dashboard at all times.
Access to Cashen is by invitation only, following a vetting process. The platform fee is currently waived for early participants.
Passing 50 platforms onboarded represents meaningful early adoption for a marketplace that launched as a specialised piece of Canton's credit infrastructure. Cashen currently has over 275 million CC locked in deals, and that scale has established it as one of the fastest growing startups on Canton Network, and the best place to lock CC for CIP-0116. As the validator set and Featured App ecosystem continue to grow, demand for capital-efficient CC delegation is likely to grow with it.
