By joining forces with Cronos – the blockchain network that interoperates with both the Ethereum and Cosmos ecosystems, supporting DeFi, NFTs, and the metaverse, Coin98 has expanded its presence in the multichain world.

Integrating Cronos Chain into Coin98 wallet app, Coin98 has connected its constantly growing community to the ecosystem representing the next major phase in the adoption and utilization of Web3.

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About Cronos Chain

Launched in November 2021, Cronos Chain is one of the few chains that exist at the intersection of Ethereum and Cosmos, allowing the chain to enjoy the benefit of both ecosystems. Cronos is designed to support the Creator Economy with applications such as DeFi and GameFi ultimately serving as a foundational infrastructure for the Metaverse.

Their focus is on massively scaling the Web3 user community by providing builders with the ability to instantly port apps and crypto assets from other chains with low cost, high throughput, and fast finality.

From Coin98 Super App version 11.6 and soon on Coin98 Extension’s next release, Coin98 app users can store, send & receive CRO – the utility token of the Cronos EVM Chain and many more CRC20 standard tokens. The Cọin98 team is also working on enabling users to dip their toes into the Cronos chains universe of 200+ DApps spanning all categories.

Through this integration, Coin98 app users can also enjoy numerous benefits of a next-generation blockchain with faster and cheaper transactions than Ethereum, making decentralized applications (dApps) and smart contracts greener and more user-friendly.

Founders’ words

Vinh The Nguyen, Co-Founder & CEO of Coin98 Finance, commenting on the collaboration:

“As an EVM built for low cost, high throughput, and fast finality, the Cronos team demonstrates their diligent efforts in embracing multichain interoperability. This integration can provide Coin98 and Cronos with countless innovations to achieve our joint aim. We’re delighted to see what this collaboration may bring to our 2 million+ users in the multi-chain future!”

Ella Qiang, VP of Ecosystem & Partnerships at Cronos Labs, shared her thought

“Creating an easy user onboarding experience has always been a top priority at Cronos. We are excited to partner with Coin98 to provide the smooth user experience of accessing the 200+ DeFi, NFT, and gaming applications in the Cronos universe”

How to create a Cronos Wallet on Coin98 Super App

Before we begin, you need to install or update Coin98 Super App to the latest version:

iOS: ios.coin98.com
Android: android.coin98.com

If you are already a Coin98 user, you should refresh your multi-chain wallets to get updated with Conflux wallet, as well as other integrated blockchains on the latest version automatically. Follow the instructions here.

Cronos Chain is the EVM sidechain running in parallel to the Crypto.org Chain. Users and developers enjoy the EVM compatibility of their go-to wallets and solidity code base when using Cronos Chain.
Since December, Total Value Locked (TVL) on Cronos has grown from $1B to near $2.5B today, a whopping 2.5x despite uncertain market conditions.
The growth is mainly led by MM Finance (AMM) and MM Optimizer (Yield Aggregator), which grew their TVLs by 46% and 56% respectively over the past 7 days.
Cronos’s growth has been interesting to observe as the main bulk of their TVL comes from their Crypto.com users. This means there are more new entrants that have their first DeFi experience on the Cronos chain.
Additionally, there is still yet to be a bridge to allow capital to move from Ethereum or other L1s over to Cronos chain. Moving capital over can be tedious as you’re required to use either the Crypto.com App or the Crypto.com Exchange as a bridge to move assets like USDC or ETH over. Once an official bridge that links Ethereum to Cronos opens up, we might see another wave of capital porting over to invest in native projects or take advantage of new yield farm opportunities.