AIrdrop Agent

Cascade

Perp DEX

24/7 perpetual markets for crypto and US stocks

Participation

Open now

Token

Not announced

Potential
Total funding

$15M

Major VCs
Polychain CapitalCoinbase VenturesVariantAuros
Last verified

2026-08-03

Potential is AirdropAgent's editorial assessment and does not confirm an official distribution.

Tasks

Participation programme live
  1. Get an invite code (from an existing user, or earn one yourself for every $100k in trading volume).
  2. Register on cascade.xyz and fund your account via wire, ACH or stablecoin.
  3. Trade perpetuals on crypto, US equities or commodities (oil, Brent, etc.) to accumulate points.
  4. Earn an extra 20% of points from people you invite, plus 20% from their referrals.
Check the official site

Events & campaigns

EventsCascade Invite-Only Beta: Earn Referral Codes per $100K Traded2026-08-05

Funding & investors

Round
—
Lead
—
Investors
Polychain Capital · Variant · Coinbase Ventures · Archetype · Auros

Overview

Cascade is a 24/7 perpetual markets platform for crypto, US equities and private assets, settled via fiat rails. It has raised $15M total from Polychain, Variant and Coinbase Ventures, and currently runs an invite-only private beta. No token has launched yet, but a trade-based points system and referral programme are active.

Analysis

  • Credibility​: Led by Polychain Capital, with Variant and Coinbase Ventures participating. Total raise is $15M.
  • Trading volume has surpassed $1B since private beta launch (as of May 26, 2026).
  • Token/points status​: No token has launched. Supply and distribution terms are unannounced. A points system that scores each trade dynamically is currently live.
  • Unknowns​: Tokenomics, whether any audit has been done, and formal airdrop eligibility remain unannounced.
  • Concern​: On July 15, 2026, an exploit on the CLS vault drained $1.3M in user funds. Funds were later recovered and all accounts restored by July 28, but it raises questions about security.
  • Access is invite-only, so only those with a code can join.

Token & distribution status

Token
Not announced
Ticker
Not announced
TGE
Not announced
Allocation
Published

Allocation

  • No formal season structure or token distribution has been announced.
  • Since private beta launch (mid-April 2026), trade-based points have accumulated continuously.
  • Cascade announced surpassing $100M in volume on April 22 and $1B on May 26, 2026.
  • Points caps, snapshot dates and claim deadlines have not been disclosed.

AirdropAgent view

This is our analysis of public information, not an official programme rule.

  • What's currently live is the points system and referral programme inside the invite-only private beta.
  • The fastest route in is to get invited by someone who already holds a code.
  • Earning your own codes requires $100k in volume per code, so active traders should prioritize referrals for efficiency.
  • Since it's unannounced how points will be used (e.g. airdrop eligibility), be cautious before ramping up trading volume purely to farm points.

Security & risks

Verified security information

  • On July 15, 2026, an exploit on the CLS vault drained $1.3M in user funds.
  • Trading and withdrawals were paused following the incident.
  • Cascade identified the parties involved and, after cooperation, the drained funds were returned to a multisig address (0x8074...5230).
  • On July 28, 2026, all accounts were restored to their pre-incident value (as of 21:08 UTC on July 15), including CLS deposits, and became withdrawable.
  • No named audit firm or audit date has been disclosed.

Key risks

  • Access is invite-only; without a code you cannot participate.
  • A $1.3M exploit hit the CLS vault on July 15, 2026 (funds have since been recovered and accounts restored).
  • No audit firm's involvement has been publicly disclosed.
  • Token design, supply and distribution terms are all unannounced.
  • Offering perpetuals on US equities and commodities may carry evolving regulatory considerations.

Recent moves on X

Only posts about joining or distribution, shown as posted. Click through for the original.

What's next

  • No official token launch (TGE) date has been announced.
  • Private beta began mid-April 2026, with new markets like WTI oil, SPY, XRP and Brent oil added progressively.
  • Limited API trading access opened on April 16, 2026.
  • The July 2026 CLS incident has since been resolved, and operations have returned to normal.
Visit the official site

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