We’re super excited to announce that Cashmere now supports Castle Finance, the safest way to earn yield for DAOs and their communities.
Castle is building the next generation of crypto-native products that enable organizations to deploy their assets in a risk-conscious manner. Cashmere and Castle are in a fantastic position to collaborate and build treasuries with financial management that meets users’ risk profiles.
Castle’s products eliminate the need to spend valuable resources earning sustainable yield in a risk-managed fashion. This frees up bandwidth so Web3 builders can focus on development and growth. With today’s newest integration, Cashmere users can earn yields safely directly from their multisigs.
To get started, you will see the newly integrated Yield feature under assets in your multisig.
Go ahead and click on manage, click deposit, and let’s try depositing 100 USDC. Once I’ve approved the transaction, I can view the pending proposal in the transactions tab.
After getting another member’s signature to proceed. Once we’ve got it, we can now execute the proposal. So now we’ve successfully deposited the money, we can see in the dashboard that our USDC is now sitting in the vault earning yield at 2.44%.
Withdrawing is just as easy, click on manage, click withdraw and enter the amount needed. You approve the transaction to create a proposal. and again, after getting the needed signatures to execute, you’re good to go!
Castle Vaults earn yield by prioritizing principal-risk mitigation over maximizing return, similar to the goals of a savings account. When stablecoins like USDC are deposited into the Vault, they are forwarded to a diversified set of yield-earning sources. Every minute, the contract rebalances between sources to optimize the yield earned.
This is excellent for protocols or DAOs on Cashmere wallet looking to earn yields. Castle’s research has shown that some DAOs possess idle stablecoin positions so large that a very attainable 2–3% APY would comfortably cover their yearly operating expenses.
Castle’s ecosystem of products deliver maximal, predictable yield while minimizing risk to ensure that DAOs always have the means to fund operations and grow their treasury, regardless of market conditions.
With this new integration, Cashmere users can directly manage their treasuries in the multisig. Together with Castle Finance, we are excited to add functionality to provide web3 builders with security and the bandwidth to focus on growth.