The Earn Network, a DeFi yield-earning project is excited to announce its upcoming integration of Cronos as a base-layer network to its platform. Initially, this integration will empower every project deployed on the Cronos network to create staking mechanisms for their assets with ease. By offering a seamless DeFi Staking experience, the Earn Network not only benefits individual projects but also contributes to the growth and success of the Cronos network as a whole.
Cronos is the first EVM-compatible Layer-1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org and more than 500 app developers and partners.
Cronos is building an open ecosystem where developers can create their own DeFi and GameFi applications, targeting a base of 80+ million users globally. In June 2022, Cronos Labs launched a $100M Accelerator Program to help developers build new projects and the future of Web3 within the Cronos ecosystem.
When developers build on Cronos, they can leverage all Ethereum developer tools (i.e. Solidity, Truffle, Hardhat, OpenZeppelin, Web3.js, ethers.js, ChainSafe Gaming SDK); leading crypto wallets (i.e. MetaMask, Crypto.com Defi Wallet, Trust Wallet); wrapped versions of the world’s top 50 cryptocurrencies; Cronos Play, a suite of developer tools for Unity, C++ and Unreal engine; inter-blockchain communication (IBC) cross-chain connectivity to Cosmos chains; and a rich ecosystem of composable DeFi and GameFi dApps.
Cronos Integration: Empowered by the Cronos Accelerator
The integration of Cronos as a base-layer with the Earn Network is further empowered by the Cronos accelerator program. This collaboration drives innovation, revolutionizing the DeFi landscape. With secure and user-friendly staking solutions, Earn Network, selected by Cronos Labs, drives growth and a wider adoption of DeFi. With strong backup, Earn is shaping the future of decentralized finance with a cross-chain marketplace for yield-earning opportunities.
Benefits for Projects on Cronos
The integration of Cronos with Earn Network's DeFi Staking brings numerous advantages to projects on the Cronos network:
- Staking Flexibility: Projects gain the ability to offer diverse staking options, allowing their users to choose between Flexible and Locked Staking pools based on their individual tokenomic strategies.
- Enhanced Liquidity and Exposure: Projects on Cronos gain access to a larger pool of liquidity aggregated through powerful third-party partners such as MyCointainer where Earn's solutions are exposed to more than 150,000 users. This attracts more investors and increases market visibility for the projects.
- Yield Generation: Earn Network's staking mechanisms enable projects to incentivize their token holders with attractive yields, fostering active participation and engagement within their respective ecosystems.
- Simplified Implementation: Earn Network's seamless integration process makes it effortless for projects on Cronos to implement staking mechanisms for their assets. This ensures that projects can focus on their core objectives without the need for extensive technical expertise or development efforts.
Synergistic Growth: Cronos Network and its Projects
The integration of Earn Network's DeFi Staking with Cronos creates a mutually beneficial relationship between the projects and the Cronos network as a whole:
- Project Success Drives Network Growth: As projects on Cronos thrive and attract more users, the demand for staking their assets increases. This influx of activity contributes to the growth and vibrancy of the Cronos network.
- Network Expansion Supports Project Advancement: As the Cronos network expands, projects on Cronos benefit from increased exposure and a broader user base. The growth of the underlying network directly impacts the success and adoption of individual projects.
- Collaborative Ecosystem: The DeFi Staking integration fosters collaboration and synergy between projects and the Cronos network, creating an ecosystem where each entity's success fuels the progress of the other.
Utilizing Cronos Integration: Expanding to Next Earn Products
The integration of Cronos as a base-layer with the Earn Network opens the door to expanding its values beyond just staking. The Earn Network is set to introduce new products on the Cronos network such as Lending, Liquid Staking and Native Restaking. This expansion allows users to access a comprehensive range of DeFi services within the Earn ecosystem. Stay tuned for the launch of these exciting products as the Earn Network continues to leverage Cronos integration for a broader DeFi experience.
The integration of Cronos as a base-layer with the Earn Network's DeFi platform is a significant milestone for projects on Cronos. By enabling projects to create staking mechanisms for their assets, the Earn Network empowers them to attract liquidity, generate yield and enhance their market presence. Additionally, the growth of projects on Cronos contributes to the overall expansion and success of the Cronos network. This integration benefits individual projects and establishes a collaborative ecosystem where project success fuels the advancement of the Cronos network.