On its fourth month of Mainnet Beta, Cronos continued its momentum and exhibited strong growth despite macro headwinds.

February Key Statistics

Despite rocky conditions marketwide, the Total Value Locked (TVL) of Cronos continued its upward trajectory, surpassing the $2.5 billion mark in the mid of February. This positioned Cronos as one of the very few chains that remained fairly resilient despite uncertain macro conditions and kept its TVL upward trajectory. (Figures below are as of February 28, 2022).

  • Record-high $2.56B in TVL on February 16 (January: $2B TVL)
  • Over 18 million total transactions (January: 12M)
  • Over 400,000 unique wallet addresses (January: 350,000 addresses)
  • Over 4,700 CRC-20 tokens minted (January: 3,500 CRC-20 tokens)
  • >130 projects live on Mainnet Beta (January: 120 projects)
  • 9 protocols with over $20 million TVL (January: 7 protocols)
  • 2.3 billion (CRO $ 0.050834) tokens bridged from Crypto.org chain to Cronos (January: 2 billion CRO)

Snapshot of the Cronos ecosystem projects as of February 24, 2022. (Courtesy of Cronos News)

New Partnerships and Supporters

The Crypto.com ecosystem has continued supporting the rollout of Cronos with more integrations such as:

  • Crypto.com Price has integrated Cronos NFTs, featuring the top 30 NFT collectibles on Cronos
  • Crypto.com DeFi Wallet has integrated Cronos NFTs, allowing users to easily view, send, receive, and share NFTs on the DeFi wallet

Project Launches

Cronos also welcomed several notable cross-chain and native projects, as well as tooling and infrastructure partnerships, in February, such as:

Cross-chain Projects

  • Krystal DeFi, a Multi-chain DeFi management platform, has integrated its SmartSwap feature natively on Cronos. Its SmartSwap DEX aggregation feature is currently sourcing liquidity from 8 different Cronos DEXes.
  • DappRadar, a platform providing dApp metrics, integrates with Cronos and is currently tracking Cronos dApps. The platform provides users with useful metrics such as volume, user wallets, transactions, and balance.
  • Cronos’ proposal on Aave Governance to deploy Aave V3 on Cronos was passed successfully via Aave’s Snapshot.

Native Projects

  • Savanna Finance, a tomb fork offering an algorithmic token pegged to $MMF, launched in early February and currently sits at a TVL value of over $80M.

Tooling & Infrastructure Partnerships

  • Defiyield.App, a cross-chain asset management dashboard, supports Cronos and allows users to monitor Cronos assets together with other cross-chain assets.

Cronos PR Coverage in February

Bridge & Solomachine Updates

  • Crypto.com App and Exchange support Cronos deposits and withdrawals of DeRace $DERC and Pendle Finance $PENDLE tokens
  • Crypto.org Chain partnered with Crypto.com to deploy Polkadot $DOT, Cardano $ADA, and Dappradar $RADAR tokens via Cosmos IBC solomachines which are ported to the Cronos ecosystem for dApp adoption
  • Undergoing further testing of IBC bridge infrastructure for other Cosmos-based chains

Technical Deployment Updates

  • Major release of Cronosd ‘v0.7.0-rc2’, a consensus-breaking upgrade based on v0.7.0-rc1.
  • Cronos testnet upgrades and fee market introduced to the Cronos testnet
  • Release of Cronos Mainnet v0.6.7 upgrade

Ecosystem Initiative Updates

Community Updates — Cronos AMA sessions

  • Two new episodes of the Cronos AMA Sessions. Our weekly/bi-weekly AMA on Cronos Twitter Spaces continues, with Jay from Particle B Team hosting interviews with two more projects. Missed out on these AMAs? You can catch up with the AMA recordings for Defiyield.App and TUSD.

Ecosystem Projects Roundup




Project Spotlight

Single Finance, a multi-chain leverage yield farming protocol, offers USD-based capital-protecting pseudo-market-neutral strategies for leveraged yield farmers on Cronos. On the 14th of Feb, Single announced the launch of its Cronos LP Time machine feature, a database that provides Performance analytics of liquidity pools. Single Finance strategy vaults are set to go live by Q1 2022.

See you next month with another exciting update from the Cronos team.

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