Cassava Network is a tokenized rewards platform committed to improving the lives of people in Africa and around the world through widespread blockchain and Web3 adoption. Cassava’s native rewards token, $CSV, can be implemented in any existing or new Web2 application to give users exposure to Web3 rewards. Rather than migrating users from existing apps to blockchain-based solutions, Cassava brings blockchain to the apps where users already are.
Cassava is backed by a powerful multi-function app and wallet, which allows users to explore rewards, manage assets including NFTs, trade NFTs in the marketplace, perform in-app swaps, access staking pools, engage with DeFi protocols and interact with Web3 platforms through the in-wallet browser. While initially launching on Solana, Cassava plans to support as many blockchains as possible, as soon as possible.
Cassava is also building the sophisticated Cassava ID system which leverages the data made available to the platform through partner integrations. The user’s behavior on different content platforms, such as news, music, video and games, will be recorded and even gamified through Cassava On-Chain Achievement Tokens (OATs). OATs are NFTs which contain metadata that tracks user activity, for example the number of streams of a particular artist, or the amount of time spent reading news. By associating OATs to a particular wallet, there is a possbility to create a sophisticated identification system which the user fundamentally owns. This gives them control over the data, and even the possibility to profit from it.
Staking $CSV tokens generates veCSV—a secondary NFT token with metadata containing the amount staked and the time staked for. veCSV confers DAO voting rights, entitles the holder to revenue sharing, unlocks extra benefits and can even be traded on any NFT marketplace, including Cassava’s.
Cassava has raised $8 million from more than 40 passionate and committed investors to expand its microinsurance digital platform, in the largest pre-seed round for an African insurtech firm and second-largest for a Nigerian startup after Nestcoin.