Crypto.com's Cronos launches $100M accelerator for DeFi and Web3
The Cronos Accelerator Program is backed by $100 million to help crypto projects in seed-pre-seed stages seeking mentorship, funding and growth. Cronos, a blockchain ecosystem built by major crypto exchange Crypto.com, announced the launch of an accelerator program to fast-track advancements across the decentralized finance (DeFi), Web3 and Metaverse space among others. Driving the initiative, the Cronos Accelerator Program is backed by $100 million to help crypto projects in seed and pre-seed stages seeking mentorship, funding and growth. According to the announcement, projects....
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Running on a proof-of-authority consensus algorithm, Cronos is powered by Ethermint, a proof-of-stake chain interoperable with Ethereum and EVM-compatible chains. The Crypto.com chain testnet allowing projects built on Ethereum to transfer over to its ecosystem from chains compatible with Ethereum Virtual Machine is now live.In a Tuesday announcement, Crypto.com said it had launched the testnet for its Ethereum Virtual Machine, or EVM, chain called Cronos, running in parallel to the Crypto.org chain. The chain is aimed at providing developers the ability to move projects from Ethereum and....
In this week's DeFi newsletter, we will look at the Andre Cronje debacle, the Polygon upgrade, the rise of ThorChain and the growing value of the DeFi ecosystem with synthetic assets. The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with.CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34%....
Cronos (CRO), the 24th-ranked cryptocurrency by market cap and the native token of the Crypto.com exchange, is among the top performers on the weekly chart and has made a significant gain of 10.02% over the past day. However, the announcement of the upcoming Cronos Chain mainnet upgrade is one of the main drivers of CRO’s strong performance. The first blockchain network to enable DeFi, NFTs, and the metaverse on top of both the Ethereum and Cosmos ecosystems is Cronos. By giving developers the option to rapidly move applications and digital assets from other chains with minimal cost,....
Launched in late 2021, the Cronos network has amassed over 450,000 DeFi and NFT users, requiring proper compliance tools. Cronos has partnered with the blockchain intelligence firm Chainalysis to enable real-time transaction monitoring tools for the Cronos (CRO) token and all CRC-20 tokens running on the Cronos network, according to an announcement shared with Cointelegraph on Wednesday.The new compliance integration aims to enable institutions, cryptocurrency exchanges and digital asset funds to track transactions of CRC-20 tokens, allowing users to trace large volumes of activity and....
The protocol launched testnet in July 2021, and has since facilitated 1.5 million transactions. Cronos has announced the launch of its mainnet beta in a bid to facilitate greater interoperability between the Cosmos and Ethereum Virtual Machine (EVM) ecosystems.The release will enable developers to port decentralized applications (dApps), and smart contracts from Ethereum and EMV-compatible chains to the Cronos network at a low-cost and fast speed due to its Inter-Blockchain Communications (IBC) protocol integration. This will offer accessibility to Crypto.com's 10 million-strong customer....