Crypto.com’s Chain of Cronos Approaches $1 Billion in TVL as Token Jumps 350%

Crypto.com’s Chain of Cronos Approaches $1 Billion in TVL as Token Jumps 350%

It will be interesting to see if Cronos continues to gain traction once fully integrated with the rest of DeFi. A bridge to Ethereum is expected soon, according to the official bridge website. The rapid growth is remarkable given that there is currently no working bridge between Cronos and Ethereum or any other blockchain. Users can only move assets to Cronos from the Crypto.com exchange and the company’s Crypto.org blockchain. Sparing No Expense

Total Value Locked (TVL) on Cronos has reached $954M in the two weeks since it launched. Cronos is built on the Cosmos SDK and utilizes a Proof-of-Authority (PoA) consensus mechanism. Being EVM-compatible, it allows for the easy porting of applications from Ethereum. It also supports the Inter Blockchain Communications (IBC) protocol, which provides a bridge to the Cosmos ecosystem.

TVL is dominated by VVS Finance, a decentralized exchange (DEX) forked from Pancakeswap, which accounts for $700M, or 73%. The catalyst for the rise? DeFi. The mainnet beta of Cronos, an Ethereum-compatible blockchain, went live on Nov. 8.

Prospective builders on Cronos can apply for grants from a $100M EVM Fund that’s offering up to $1M per project. Disclosure: The author holds a small position in CRO and is farming VVS tokens. That was followed by a $700M naming rights deal for Los Angeles’ Staples Centre, which will now be known as the Crypto.com Arena.

In October, it kicked off an ad campaign featuring Hollywood actor Matt Damon. Crypto.com has been ramping up its marketing efforts in recent weeks.

The News Highlights

  • Crypto.com’s Chain of Cronos Approaches $1 Billion in TVL as Token Jumps 350%
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Black Friday Route Shows Margin Lending Risks
Black Friday Route Shows Margin Lending Risks
Borrowings against portfolios of stocks and bonds, broadly called margin debt, have grown as individual investors have become major players in the stock ...
Samsung's web browser now includes one of the most requested features
Samsung’s web browser now includes one of the most requested features
Move URL bar menu. Credits – Dan Seifer – Samsung finally brings one of the most requested features to its Internet browser. Move URL bar menu. Credits – Dan ...
Best Buy Cyber ​​​​Monday 2021 bargains are now available
Best Buy Cyber ​​​​Monday 2021 bargains are now available
so launched generous Cyber Monday discounts on Samsung Galaxy phones. Verizon is currently the most generous on premium Samsung Galaxy phones as it is ...
Cyber ​​Deals on Monday 2021: The Best Sales
Cyber ​​Deals on Monday 2021: The Best Sales
From our top 10 picks, to laptops to gaming gear, here are today’s best Cyber Monday deals. Cyber Monday deals – Quick links. Amazon: Cyber Monday deals on ...
AnTuTu confirmed the main specs of the Realme GT 2 Pro, which includes a 120 Hz screen
AnTuTu confirmed the main specs of the Realme GT 2 Pro, which includes a 120 Hz screen
The RMX3300 is powered by Qualcomm’s SM8450 SoC, expected to be called Snapdragon 8 Gen1. This is the third Android device to cross 1 million AnTuTu points ...
The best of Cyber ​​​​Monday Laptop and Home Office Business (2021)
The best of Cyber ​​​​Monday Laptop and Home Office Business (2021)
By signing up you agree to our User Agreement and Privacy Policy & Cookie Statement. If you buy something using links in our stories, we may earn a ...
'I want a solution to this problem' |  Business owner in downtown Austin reacts to implementation of camping ban
Single-family home prices in Rhode Island are on the rise as sales slow
There were similar trends in the condominium sector, but pending sales rose 10.8% year over year. The association said that could indicate that frustrated ...
Inside the $ 7 billion merger of Sequoia Financial and Wealthstone Advisors
The Bylaws Panel is considering assigning an advisory role to the Finance Council
2. Give it the financial policy decisions but not have it involved in the budgetary process. “The board seemed to work pretty well until recently,” said CRC ...
The Xbox Series S is the most popular game console on Black Friday
The Xbox Series S is the most popular game console on Black Friday
Another major factor that played a hand in the Series S coming out on top is that there is still a parts shortage for most consoles being made around the ...
'For the greater good:' Indigenous financial adviser works to embrace others
Billionaires in Battle: Power Struggle at Top of Italian Finance
This has led to tensions between Del Vecchio and the bank’s chief executive, Alberto Nagel, according to several people with knowledge of the relationship. ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo