Cadence is building an intent-driven perpetuals aggregator, initially going live as its flagship perpetuals protocol on Canto. The goal is to make liquidity more capital-efficient by bringing together Real World Assets (RWAs), Contract-Secured Revenue (CSR), and Liquid Staking Derivatives (LSDs). The protocol will plug into Cadence's intent-based execution network, Symphony. By powering Symphony, Cadence aims to address liquidity fragmentation.

CAD is the primary utility and governance token within the Cadence Protocol. It provides a mechanism where holders receive 100% of fee revenue that is redistributed to CAD and CLP stakers, includes governance voting rights, and enables a growing portion of protocol value over time via the exit fee system. CAD holders can also participate in staking benefits, earn rewards through a referral program, and must hold CAD to allow solvers to participate in Symphony. In addition, CAD is used to pay transaction gas through Account Abstraction within Symphony.