Summary of May '24

This monthly recap highlights these key developments, which promise an even more dynamic future for our users in the decentralized financial landscape.

Summary of May '24


May was a very active month for the Earn Network, with a number of strategic developments. We launched a variety of new staking pools, expanding our DeFi staking offerings with exciting rewards across multiple tokens. In addition, we made significant progress on technical improvements to increase the user experience and expand our network's functionality with upcoming blockchain integrations. This monthly recap highlights these key developments, which promise an even more dynamic future for our users in the decentralized financial landscape.

Key Numbers πŸ“Š

  1. There are currently 1,444 holders of the $EARN token on-chain. πŸš€
  2. The platform saw a transactional volume of $9,751,895.79 with 6,591 stakers, underscoring the high engagement in our platform. πŸ‘₯
  3. Earn Network's TVL surpassed $4M highlighting the platform's rising influence and the community's trust in its staking features. 🏦
  4. Earn Network's DeFi Staking platform currently supports 43 diverse tokens, with over 300 rewards, alongside 9 NFT staking initiatives with 54 rewards. 🌟
  5. During Airdrop Season 2, the Earn Network community collectively collected over 350,000 Earn Points. Impressively, the leading participant alone secured over 10,450 points, translating to more than $1,930, highlighting significant rewards that active involvement can bring on the platform. πŸ’°

Development Highlights πŸ“ˆ

πŸ’° Launch of staking pools for new assets
In May, the Earn Network was filled with many new projects that will now be offered in our DeFi Staking product with exciting rewards. The new projects are:

- Scooter ($SCOOTER) on Cronos
- mouse in pasta ($STUCK) on Cronos
- Puush Da Button ($PUUSH) on Cronos
- Nuts ($NUTS) on Cronos
- Croakey ($CROAK) on Cronos
- Osaka Protocol ($OSAK) on Arbitrum
- Chucky ($CHUCKY) on Cronos
- Crogecoin ($CROGE) on Cronos
- Crononymous ($CRONON) on Cronos
- LetsCRO ($LFC) on Cronos
- Floki ($FLOKI) on BNB Chain

πŸ‘©πŸ»β€πŸ’» Bug fixing & new improvements
As we want to provide the best product possible, this month was also rich in new improvements that would provide additional value, together with fixing of some small bugs that our community notified us about.

Some of the main improvements are:
- Transaction history under each pool, so anyone could see the latest transactions.
- Adding buttons next to each reward, so you can switch between value in USD or in coins that the reward is in.
- New panel in the Creator Lab where you can easily contact our specialist to get help with setting up your staking pool.
- Optimized platform speed for a smoother user experience.

πŸ–§ Expanding the Earn Network: Integrating New Blockchains

Aleph Zero integration in June

In May, the development team at the Earn Network diligently worked on integrating Aleph Zero as a new base layer, set to launch in June. This integration will enrich the platform's offerings by adding Aleph Zero's unique privacy and scalability features to Earn Network's DeFi and NFT Staking services.

Solana integration coming in July
Following the integration of Aleph Zero, the Earn Network is also preparing to launch Solana as a base layer in July. The inclusion of Solana will leverage its high throughput and low-cost transactions, further broadening the accessibility and efficiency of Earn Network's services.

πŸŒ‰ Getting ready to launch wrapped $EARN
Our development team spent May finalizing the bridge solution essential for launching $EARN on the Cronos network. This strategic move not only opens up new possibilities for token holders by expanding the accessibility of $EARN, but also reinforces our commitment to supporting Cronos, one of our key investors. This initiative is set to enhance the utility of the $EARN token, broadening its reach and integration within the vibrant Cronos ecosystem.

πŸͺ™ Boosting DeFi Staking rewards with exclusive NFTs
In the month of May, the Earn Network introduced a significant enhancement to our staking pools with the addition of exclusive NFTs called ANFTs. These specially designed NFTs add significant value by awarding Earn Points - each NFT equals one Earn Point redeemable on the Airdrop page. Stakers who meet the criteria of a minimum 15-day lock-up period and the required minimum stake are eligible to receive these NFTs. This initiative not only enriches the rewards available, but also directly connects staking commitments with real benefits, further incentivizing community participation in our network.

Community Growth πŸ‘₯

🎁 Cronos Memecoin rush
May saw the exciting launch of the Cronos Memecoin Rush campaign, which unites 13 Cronos-based Memecoins in a dynamic cross-promotion. Each participant enriches their pool with 13 rewards sourced from other projects, backed by an additional 14th reward in the form of wrapped CRO tokens provided by the Earn Network. This two-month event not only builds community engagement, but also increases exposure for all involved. Dive into this dynamic campaign, explore the various rewards, and join the rush to take advantage of this collaborative opportunity!

🌊 Cronos Spring Odyssey
The Earn Network shined in the Cronos Spring Odyssey: Memecoin Trails, rewarding community members with 8,000 CRO tokens for staking in Cronos-based pools. This engagement strengthened our ties within the Cronos ecosystem and underscored our commitment to enriching the decentralized finance landscape.

πŸŽ₯ Stake with Kate
This month, the Earn Network introduced a new series of YouTube tutorials, expertly crafted by our content creator, Kate
. These detailed guides dive into the essentials of staking on our platform, from initiating staking to tracking investments. Kate’s tutorials are designed to simplify DeFi for everyone, ensuring users feel confident and informed. Subscribe to our YouTube channel to enhance your staking knowledge and stay updated with all our instructional content!

Earn Network's Ecosystem

Earn Network's Ecosystem

As always, we would love to hear your feedback. If there's something we can improve, please let us know.

Below, you can find the summary from April '24.

Summary of April ’24
April saw Earn Network revolutionize its platform with significant upgrades, including an updated DeFi Staking platform for single tokens, and the launch of NFT Staking.