No, according to
@CrusherHODL’s detailed on-chain analyses, cDAI on PulseChain does not become valuable—it’s essentially a hyperinflated, low/no-value token residue from a yield farm that’s nearly exhausted.
@crusherhodl
Key points from his posts (especially the June 13, 2026 deep dive):
• cDAI is the canonical Compound cDAI (inherited at the PulseChain fork, contract 0x5d3a536e4d6dbd6114cc1ead35777bab948e3643), backed by pDAI.
@crusherhodl
• Massive inflation: Total supply ~314 trillion cTokens, totalBorrows ~25 trillion pDAI, with an exchange rate ~3.5× mainnet equivalents. Cash in the market is basically 1 wei. These numbers come from runaway interest accrual on a near-100% utilization market, not real DAI inflows. (The borrows alone exceed total pDAI supply by hundreds of times.)
@crusherhodl
• It’s a COMP reward farm run by an independent MEV/yield bot (driven by EOA 0xfdbee32b…, using a contract for atomic flash-loan mint/borrow loops). The bot mints/borrows to harvest inherited COMP rewards, dumps them on PulseX for PLS, and repeats—without unwinding positions. This permanently ratchets up supply/borrows.
@crusherhodl
• The COMP reward reserve is now essentially drained to dust, so the farm is sputtering out with near-zero harvests.
@crusherhodl
• It’s structurally separate from the main PulseChain Compound governance-capture operator/drain (different EOAs, no verified asset flow ties; the bot even self-funded its cETH collateral leg).
@crusherhodl
CrusherHODL calls it a “strip-mining” operation on the dead fork’s leftovers. He has also posted lighter content like “cDAI gang is legit” (with memes/videos), but the forensic analysis is the substantive one—showing it’s not a gem with real upside.
Market reality (as of recent data)
cDAI trades at microscopic prices (e.g., fractions of a penny, like ~$0.00000000035–0.00000000036 vs. DAI) on PulseX with tiny liquidity and volume. It’s not pegged or backed meaningfully.
geckoterminal.com
Bottom line from his work: Do not treat cDAI as valuable or supply real assets expecting it to moon. It’s farm residue, and the protocol has risks (e.g., pre-staged traps in related markets). PulseChain has plenty of other narratives (HEX, PLSX, INC, etc.), but this isn’t one where cDAI “becomes valuable.” Always DYOR and verify on-chain yourself—CrusherHODL emphasizes “Don’t trust, verify.“