Cronos Labs, the web3 startup accelerator focused on driving innovation in DeFi, GameFi, and the broader Cronos ecosystem, launched the Cronos zkEVM public testnet in 2023. This zero-knowledge (ZK) Layer 2 blockchain marks a significant milestone in Cronos’ pursuit of greater scalability and broader mainstream adoption.
As the leading bridge provider on Cronos, according to DefiLlama, XY Finance is committed to furthering the development of the Cronos and Cronos zkEVM ecosystems. In line with this commitment, XY Finance now proudly supports Cronos zkEVM 🔥
Let’s explore the massive potential of Cronos zkEVM, and let XY Finance bridge you from 20+ chains onto Cronos zkEVM 💙
Cronos zkEVM Integration (User)
As part of the integration, XY Finance users can enjoy:
✅ Single-Chain/Cross-Chain Bridge & Swap: Easily bridge & swap any token from 20+ blockchains to Cronos zkEVM via XY Finance.
✅ Provide Liquidity & Earn: Become a liquidity provider to XY Finance’s own bridge and earn more from depositing into ETH pool.
- Bridge & swap your assets to Cronos zkEVM seamlessly
👉 XY Finance Cross-Chain dApp - Become a liquidity provider on Cronos zkEVM
👉 ETH Pool Now LIVE, Provide Liquidity to Earn More!
Cronos zkEVM Integration (Developer)
Developers are at the heart of every blockchain revolution. Recognizing this, XY Finance offers an array of services:
✅ Widget/API Integration: Elevate the versatility of your dApp by integrating XY Finance’s cross-chain solution, extending interoperability to 20+ chains and growing.
✅ Token Listing: Elevate your token’s visibility and accessibility by listing it on XY Finance’s cross-chain swap, encompassing Mantle Network and other major EVM chains.
✅ xAsset Token Bridging: XY Finance provides canonical token bridge solution that empowers projects to connect with different chains.
For developers who want to enhance interoperability & enable smooth onboarding of more users
👉 Introducing XY Finance Cross-Chain Widget
👉 xAsset Token Bridging
👉 Widget Integration Developer Document
👉 Partnership Form
How to On-Chain or Cross-Chain Swap Your Assets to Cronos zkEVM
Getting started with XY Finance and Cronos zkEVM is simple and user-friendly. Here’s a quick guide to bridging your assets:
- Visit XY Finance Transfer Page & Connect Wallet
- Select Chain & Token: Select your source chain & token as well as your desired token on Cronos zkEVM.
- Approve Transfer: Click “Review Route”, double-check the rate and route, then click “Transfer” and sign the message from your wallet.
- Wait for Transaction: Track the process on XY Finance Explorer or Cronos zkEVM Explorer. Your transaction should be completed within 2 minutes. If it takes longer, open a ticket on XY Finance Discord.
- Transaction Completed: Receive notification on the transaction status.
What is Cronos zkEVM?
- Cronos zkEVM: A Layer 2 blockchain scaling solution on Ethereum, utilizing zkSync’s ZK Stack technology.
- Partnership: Developed in collaboration between Cronos Labs and Matter Labs (zkSync’s team).
- Connection to Ethereum: Linked to the Ethereum Mainnet through a shared bridge for enhanced security and efficiency.
- Ecosystem Support: Designed to foster the growth of the Cronos ecosystem as the Ethereum Layer 2 market expands.
- Performance: Capable of handling over 100 transactions per second with some of the lowest fees among Layer 2 solutions.
- DeFi Potential: Positioned to become a major player in the decentralized finance (DeFi) space.
Features of Cronos zkEVM
ZKP System
Cronos zkEVM uses the latest Boojum STARK-based zero-knowledge proof system, which can run on GPUs with as little as 16 GB of RAM. This system boasts some of the lowest fees among all Layer 2 solutions. Moreover, Internal performance benchmarks show that hyperchain technology can already deliver over 100 transactions per second.
ZK Chain
Cronos zkEVM is the first ZK chain to go live on mainnet besides ZKsync Era. It leverages the concept of an Elastic chain, an ever-expanding network of ZK rollups. The recent ZKsync 3.0 upgrade addresses this issue by enabling native, trustless, low-cost interoperability between chains powered by ZK Stack, Ethereum’s most performant ZK rollup framework.
Cronos zkEVM is connected to Ethereum via a Layer 1 <> Layer 2 bridge secured by Ethereum, which is shared with ZKsync Era and other ZK chains.
Triple Yield
Cronos zkEVM is partnering with Veno Finance to allow users to hold yield-bearing tokens when they hold crypto assets on the Cronos zkEVM blockchain.
Users may earn rewards in 3 ways:
- Staking Rewards: Earn yields simply by holding yield-bearing tokens such as zkCRO, vETH, or vUSD, powered by Veno Finance.
- DeFi Yields: Put crypto-assets to work by deploying them into various DeFi protocols hosted on the Cronos zkEVM blockchain.
- Pioneer Program Rewards: Additional rewards from participating dapps (to be announced at a later stage) for users who completed certain types of actions that benefited the whole ecosystem.
Native Account Abstraction Enabling Gasless Transactions
Cronos zkEVM, like other ZK chains, offers native account abstraction (AA) implemented at the protocol level. While AA has been possible on EVM-compatible chains for some time, migrating existing liquidity to AA-enabled wallets has been challenging for legacy chains.
With AA, users can deposit funds and transact with dApps without needing to switch networks. They can emit off-chain signatures from any EVM home chain or even from mobile apps or games with usual login credentials.
DApps on Cronos zkEVM are expected to support AA by default, handling transaction relays to Cronos zkEVM and even covering gas fees. This functionality will unleash the full potential of AA, supporting mainstream adoption.
#CROFam
#CROFam stands as the heartbeat of both the Cronos and Cronos zkEVM ecosystems. This passionate and resilient community has weathered the challenges of the bear market, playing a pivotal role in driving the growth and success of the Cronos ecosystem. By harnessing the energy and commitment of #CROFam, Cronos continues to build a thriving environment for both end-users and developers, ensuring that the ecosystem remains dynamic and forward-looking.
Ecosystem on Cronos zkEVM
No matter what interests you—whether it’s DeFi, NFTs, GameFi, or more—there’s sure to be a dApp in the Cronos zkEVM ecosystem that fits your preferences.
Here are a few highlights from the Cronos zkEVM ecosystem.
Native Yield DEX — H2 Finance
H2 Finance is the first native-yield DEX on Cronos zkEVM incubated by Cronos Labs & VVS Finance. With its unique triple-yield opportunity, H2 Finance aims to offer the most seamless and optimal access to sophisticated trading strategies on Cronos zkEVM.
GameFi & NFT Market & DEX — Ebisu’s Bay
Ebisu’s Bay is a dynamic platform that merges NFT and DEX trading with GameFi through Ryoshi Dynasties. On this platform, you can buy, sell, and trade a wide range of Cronos NFTs and cryptocurrencies.
By staking $Fortune tokens for $Mitama, users can participate in governance and provide input, transforming the marketplace into an engaging, story-driven digital collectible space.
GameFi Aggregator DEX — Wolfswap
Wolfswap is an Aggregator DEX that incorporates GameFi aspects to deliver the best experience for the end-user. Compatible with all EVM chains, it offers a range of practical features designed to enhance user engagement.
One key feature is the Aggregator, which identifies the best prices across all DEXs, ensuring optimal trades. Soon, an AI Scanner will be integrated to provide enhanced contract security.
Memecoin Launchpad — Puush.fun
Puush.fun is a gamified memecoin launchpad on Cronos that allows any user to launch their own meme tokens without code. Meme tokens that successfully graduated on Puush.fun will then be subsequently tradable on H2 Finance and Ebisus Bay.
Liquid Staking — Veno
Veno is a liquid staking protocol on Cronos and zkSync Era, allowing users to stake CRO, ATOM, TIA, and ETH. In return, users receive auto-compounding, yield-bearing receipt tokens (LCRO, LATOM, LTIA, LETH) designed to maximize composability. By holding these liquid tokens, users automatically accrue staking yield value, which can be freely used across the DeFi ecosystem on both chains.
NFT Market — Minted
Minted is an NFT platform that allows users to browse and purchase NFTs across the Ethereum and Cronos blockchains incubated by Cronos Labs.
Minted rewards supporters of the platform with its native token, $MTD, for participating in the ecosystem. Users can also deposit $MTD into vaults to earn additional yield.
XY Finance’s integration with Cronos zkEVM opens up new possibilities for users and developers alike, enabling seamless token swaps and bridging across 20+ blockchains with the best rates and routes. As the Cronos zkEVM ecosystem continues to grow, there’s no better time to explore its potential. Whether you’re providing liquidity, engaging in DeFi activities, or developing the next big dApp, XY Finance is here to support your journey.
Unlock the full potential of Cronos zkEVM with XY Finance today – bridge and swap your tokens with ease and efficiency 🚀
