A New Lending Protocol is Launching its Mainnet on Kaspa

Kaskad (@AppKaskad), a decentralized lending and borrowing protocol built on the Kaspa network, is set to open its public mainnet on May 24 at 12:00 UTC. The team says the launch marks the beginning of the decentralized finance era for the Kaspa ecosystem.

What Kaskad Does

Kaskad is a smart contract-powered platform that enables users to access stablecoin liquidity, such as USDT or USDC, by locking $KAS or other supported assets as collateral. The protocol was built by forking AAVE v3.3 and has been adapted for Kaspa's high-speed architecture. It launches with $250,000 in initial total value locked (TVL) and targets lending yields of 8 to 12% APY through emissions, alongside Protocol Incentives and Protocol Cash Flow allocations governed on-chain.

The platform runs on Igra Network, a decentralized EVM-compatible execution layer built on Kaspa's proof-of-work BlockDAG, which delivers over 3,000 transactions per second with sub-second inclusion latency. Igra Labs described Kaskad at its own mainnet launch as bringing "institutional-grade lending to proof-of-work for the first time."

Token Launch and Exchange Listing

Alongside the mainnet opening, the Token Generation Event (TGE) allocation claim for $KSKD will go live simultaneously, with deposit support on @MEXC. Official listing and trading are scheduled to begin on May 25 at 12:00 UTC, as the protocol initiates its first operational epoch.

On the research side, a grant from the Kaspa Ecosystem Foundation supports a full-time oracle researcher working directly under Kaspa founder Yonatan Sompolinsky, with the goal of developing a more secure and decentralized price-feed system for the protocol.

Sources:
Kaskad Official Website
CryptoPotato: Igra Network Launches Public Mainnet on Kaspa
Kaskad: About and Roadmap