Over the last 5 years, Cascade (formerly Perennial) set out to build the next generation of the modern brokerage experience: a unified platform for global markets, built around 24/7 access and limitless accessibility. Today, we’re disappointed to announce that Cascade is shutting down operations. This was not an easy decision. We’re incredibly grateful to everyone who supported us along the way through the years. Thank you for believing in the vision and helping us build. We truly wish things turned out differently, but we’re excited to see how other projects pick up the mantle. Important information: - Cascade is no longer operational. - You may claim any remaining funds from Cascade (CLS+trading) via claim.equilibria.xyz (logging in through Privy Home). Please only use that link. To verify, you may refer to cascade.xyz. Once again, thank you all for your support throughout the last 5 years.

Thank you all once again for your patience as we resolved the CLS incident. All accounts have been restored to their values as of July 15 at 21:08:00 UTC, immediately before the incident began. You may withdraw your full account value, including CLS deposits, using this link: claim.equilibria.xyz Please only use this link. You may also navigate to the claim page once logged in to cascade.xyz Instructions to claim: 1. Connect your Arbitrum wallet 2. Sign in to your Cascade account email 3. If there are funds available, you may withdraw them to the connected wallet from Step 1. We appreciate your continued patience as we restore service to Cascade.

Thank you to everyone for patiently waiting as we’ve sought to resolve the incident. The parties involved have cooperated with us and have returned the funds drained from CLS. The retrieved funds are available in this multisig address: 0x8074583b0f9cfa345405320119d4b6937c152304 All users who had funds in CLS will be able to get back 100% of their value as of July 15 at 21:08:00 UTC, immediately before the counterparty deposited their money onto the platform. A claim will be available within the coming few days.

Update regarding the 7/15 CLS exploit: Thank you to everyone who has reached out to us especially with information for our investigation. With your help, we have identified the parties involved and are pursuing a path forward with them.

Yesterday afternoon, Cascade detected a security exploit affecting our CLS vault, resulting in the loss of $1.3M in user funds. All trading and withdrawals were paused accordingly. This is what we know: 1. On thin liquidity markets, most of the orderbook orders were created by CLS 2. Attackers started accumulating long positions where CLS held the short side of the trade 3. Mark price was artificially manipulated upwards, thereby triggering liquidations/close-outs for CLS. Since the attackers held the other side of the trade, the attackers' positions were ADL-ed and closed at the high mark price. 4. These liquidations amounted to approximately $1.34M and these funds were immediately withdrawn. This is the TX: arbiscan.io/tx/0xcd801d24eb5… 5. There were two attacker account emails used on Cascade relating to the individual pertinent trades: Ivan Isver ([email protected]) & Maksim Petrenko ([email protected]). Any pertinent information on these users would be helpful towards our active investigation. What we are currently doing: 1. We are still investigating the actual mark price manipulation mechanism. 2. We have built out the attackers’ invitation chain on Cascade, and SEAL 911 has helped trace their on-chain activity to Polymarket and Binance. SEAL has also flagged the theft wallets with CEXs. 3. We’re also in active contact with law enforcement and are reporting everything to them as we uncover more details. 4. We’ve contacted the origin of the attackers' invite chain for additional information. These have also been disclosed to LE. 5. Some users have also reported seeing erroneous zero trading balances. This is being resolved as well. Appreciate those who reached out with additional information. Please continue to report any findings to us so that we can flag these to SEAL 911 and LE entities. Feel free to reach out to @SEAL_911 with any additional information as well.

Cascade has surpassed $1B in trading volume since the start of Private Beta. Over the past couple months, we’ve worked closely with our early traders and testers to continuously refine Cascade. We wouldn’t have reached this milestone without all of your constant support and feedback.

Cascade takes a different approach to your typical points system. Each trade is scored, then converted into points at a dynamic rate. Here’s a breakdown of the design: cascade.xyz/articles/points

Cascade just crossed $100M in volume. One week into Private Beta. The first 24/7 neo-brokerage, fully accessible in the US. We're just getting started.

WTI is now available for trading on Cascade. Long or Short American Oil with up to 20x leverage.