by Abhinav Tiwari
August 17, 2022
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.
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:
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.
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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Author
Abhinav Tiwari
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