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Top 5 Projects Driving Cronos, According to Crypto.com
August 17, 2022
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Cronos has grown to become one of the leading exchange-backed blockchain networks. The exchange has now picked its top five protocols that are building on the network.
Crypto.com Picks Top 5 Protocols
The Cronos chain, launched in November 2021, quickly gaining users and intense activity. It became the fifth largest Ethereum Virtual Machine (EVM) chain by April this year. As the first blockchain to interoperate with the Ethereum and Cosmos ecosystems, Total Value Locked (TVL) on the chain exceeded $3 Billion in less than six months - an astonishing growth rate.
The parent company backing the chain–Crypto.com recently released a list of five major Decentralized Finance (DeFi) projects responsible for driving interest and growth in the Cronos ecosystem, with the top three accounting for 80% of the TVL.
Let’s look at the top five projects on the Cronos chain by TVL as per data on DefiLlama:
- VVS Finance: Leads the pack with a TVL of $733 million. Has long been the top decentralized exchange (DEX) on Cronos, offering popular DeFi services such as token swaps, liquidity mining, and staking, with an easy-to-use interface. More details on VVS Finance are available in our detailed project insight about the protocol here.
- Tectonic Finance: With a TVL of $275 million, Tectonic Finance is an algorithmic money market protocol that allows users to lend assets to generate yield from over-collateralized, floating-rate loans to borrowers.
- Ferro Protocol: Recently launched through an IGO on VVS Finance, Ferro $FER is an Automated Market Maker (AMM) that offers users an efficient swap mechanism for stablecoins with lower slippage and fees. Despite launching in a bear market Ferro still experienced massive growth, peaking at over $120 million in TVL.
- MM Finance: Arguably, the most popular project on Cronos ranks fourth in TVL at $100.24 Million. The DEX was the first to introduce Protocol Owned Liquidity in the ecosystem. It offers some of the lowest transaction fees (0.17%) on the blockchain, and is often among the top DEXs in the Cronos ecosystem by trading volume (see chart below).
- Beefy Finance: The multi-chain yield aggregator offers users compounded yield in the form of reward tokens for providing liquidity.
As the market shows signs of a turnaround, new projects could take over the mantle from the top five as liquidity flows into the ecosystem.
What is Crypto.com:
Crypto.com is a cryptocurrency exchange that started operating in 2016. It has extended its reach to over 10 million users within 5 years. The platform was founded by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo, with its headquarters in Hong Kong. In addition to the cryptocurrency application, the platform also runs the Crypto.com Visa card, one of the world’s largest cryptocurrency card programs, the exchange, and a DeFi wallet. The exchange operates across 3 continents, the Americas, Europe, and Asia.
For more information about the project:
Website | Twitter | Medium | Linkedin | Discord | Telegram | Reddit | Kakao |
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Terraform Labs Founder Do Kwon Appeals Extradition Decision in Montenegro
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December 6, 2023
The appeal will be reviewed by the Montenegro court, and the Montenegrin Ministry of Justice faces challenges in reaching a conclusive decision by the December 15 deadline.
Kwon Do-hyung, the founder of Terraform Labs (TFL), has filed an appeal against the recent extradition ruling made by the High Court of Podgorica in Montenegro, according to a local South Korean media outlet.
The Montenegrin Court of Appeal confirmed on December 6 that Kwon Do-hyung contested the decision, stating, “I do not accept the court’s decision to extradite me, so I do not submit to the court’s decision.”
This appeal prompts the Montenegrin Court of Appeals to reassess the extradition decision, introducing uncertainty into the resolution timeline.
Extradition Request and Timeline
The court initially approved Kwon’s extradition request on November 24, stipulating his transfer to either the United States or his home country, South Korea.
The current appeal has altered the decision-making timeline, making it challenging for the Montenegrin Ministry of Justice to finalize the extradition destination before the December 15 deadline.
During the extradition trial, Kwon expressed a preference for being extradited to South Korea, a request that was granted by the court. However, the appeal has extended the timeline, potentially rescheduling the extradition proceedings to January, according to Crypto Times.
Despite Kwon Do-hyung’s appeal, local observers in Montenegro suggest slim chances of overturning the extradition decision. A prevailing belief among Montenegrin government officials and judiciary figures is that Kwon’s continued detention attracts undue attention.
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
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If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member.
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