Cashio

Cashio was a DeFi (Decentralized Finance) project designed to allow users to mint a USD-pegged stablecoin called CASH. Its primary innovation was allowing users to deposit interest-bearing liquidity provider (LP) tokens as collateral to mint CASH, aiming for high capital efficiency. The project's history is defined by a catastrophic security exploit in March 2022, which led to the protocol's collapse and the complete loss of the stablecoin's value. The official website remains online with a message acknowledging the incident.