Just tried this airdrop wrapped from @otomato_xyz
$98.3k farmed across 16 airdrops. Top 0.41% of all hunters.
Big up @HyperliquidX@ether_fi@LineaBuild for the bags
Claimed the legendary badge along the way.
How hard did you farm? https://t.co/GQ0MGW6Hgc
Is @cascade_xyz a rebrand or linked with @perenniallabs and @Equilibriafi ?
but first what were perennial labs equilibriafi :
perennial was a defi derivative protocol that has raised $12.6M in dec 2022 and was backed by polychain capital, variant, archetype and coinbase ventures (exactly same backers as cascade)
in 2024 they even launched long term points based reward initiative designed to incentivize early adopters, loyal traders and LP providers in the form of "Petals" and they hitting $18M+ highs
but they couldn't stay relevant for longer and user demand disappeared, team started ghosting AMAs and tvl dropped to Zero
ultimately no token was launched
Equilibriafi :
it was a defi yield optimization protocol on top of Pendle Finance, they promised 2% airdrop to users and introduced a sale in may 2023 where they raised $1.5M at $20 FDV hard cap with 50% vesting
they successfully launched the token at IDO price and the token is still holding around IDO price, those who invested in sale got their rest 50% capital back after 6 months with around no loss/profit
how are these projects and @cascade_xyz linked :
1. Perennial was co founded by Kevin Britz ( @kbrizzle_ ) and Arjun Rao
2. Equilibriafi was co founded by Kevin Britz verified from multiple sources as under perennial
3. Perennial hinted S2 petal campaign then announced they will be pivoting to a new perps venue
most important :
4. cascade(.)xyz official domain uses Ambire embedded wallets for auth + Perennial Finance as their derivatives backend
basically the urls found in cascade network tabs are the preview are the staging version of Cascade's frontend interface hosted on Perennial's infrastructure
5. the Block and coindesk hinted, "Kevin" as Cascade co founder
so putting all this together, it can be verified that they came up Cascade idea in july 2025 after they announced no S2 petal campaign for Perennial
conclusion :
am i calling Cascade a scam? no
but should i be careful? yes
they didn't launch the token for Perennial even after millions of perps volume, and people using the platform, spending capital
until they won't clarify these issues and come up with reasonable answers for why they need to launch so many projects which are not able to find PMFs and deliver and disclose the team behind Cascade publicly i will stay away
nobody would want to lock funds for months into something who are riding the meta hype and no team info, because i don't want to miss other opportunities for nothing
dyor
Ohhh...it would be funny if there were 4 seasons in 1 year, but no one knows how many years (and there are seasons in them) until the token release. ๐ซฃ๐ซฃ๐ซฃ
+ Armani has said more than once that a good exchange takes a long time to build...
Think about it ๐ค๐
What if the Backpack drop isn't at the end of Season 4, but somewhere in 1-2 years?
Season 3 had the slogan "volume matters" or something like that, and Season 4 was released under the slogan "The last three were just the beginning." ๐ฌ
@armaniferrante@Backpack