How did the emerging public chain Cronos achieve a TVL of over 1 billion in a single month?
EVM Compatibility
Cronos is built on Ethermint, enabling rapid rollout of DApps and smart contracts from EVM-compatible chains.
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Data Sources:
Data Sources:Cronos Dashboard (https://footprint.cool/Qt1s)
The Cronos chain launched by the centralized exchange Crypto.com completed the mainnet beta release on November 8, and its TVL reached 1.5 billion US dollars on December 13 just one month later. What exactly is it, and what is the reason why it can achieve TVL exceeding 1 billion in a single month?
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Cronos data performance
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Footprint Analytics: Cronos TVL
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Footprint Analytics: TVL by Category
Cronos’ TVL is dominated by DEX platforms, with VVS Finance and CronaSwap being the top two. according toFootprint Flashimage description
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Footprint Analytics: TVL for VVS Finance
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Strong Incentive Program
Blockchain accelerator Particle B provides Cronos with a $100 million ecosystem funding program, establishing a CRO EVM fund to help developers and partners.
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Ambitious branding
Crypto.com has spared no effort in branding and has always pursued an aggressive brand advertising strategy. In June, Formula 1 announced Crypto.com as a long-term partner. In October, Crypto.com launched its first ever global marketing campaign, targeting customer acquisition in more than 20 countries through a marketing campaign featuring many celebrity endorsements. In November, the Staples Center was renamed the Crypto.com Arena.
EVM Compatibility
Summarize
Crypto.com has created a full-featured cryptocurrency platform that provides users with one-stop services for spot and derivatives trading, centralized and decentralized finance, NFT, point-of-sale intelligence system (POS) and staking rewards, etc. .
Therefore, Cronos, which relies on the resources of the well-known exchange Crypto.com, has a strong first-mover and cold-start advantage. At the same time, the friendly developer ecology and incentives are conducive to quickly building a richer ecosystem.
Whether Cronos can gain an advantage in the exchange public chain competition in the future depends on whether it can provide users and developers with more high-quality choices. Welcome everyone to join the Footprint Analytics community, and follow and track the development of the new public chain with us.
