Kronos zkEVM has launched an alpha mainnet with a native Ethereum bridge.
Kronos Labs has announced the launch of the highly anticipated zkEVM mainnet. Built with the support of zkSync developer Matter Labs, Kronos zkEVM works with the extensive Dapps ecosystem and Ethereum Bridge already in place.
The launch of the Cronos zkEVM mainnet follows a successful testnet that launched in December 2023 and generated over 3 million wallets. Many of these users will now transition to using the ZK-based L2 core network, which will complement existing Kronos EVMs and Kronos POS. zkCRO, a liquidated version of the CRO token, acts as gas on the network and can be used to cover network fees.
Kronos family got the chain
Kronos has built a user base of over 100M cryptoholders and has built a large audience on the ecosystem. The Cronos zkEVM mainnet provides a new playground for these users to explore, rich in product generation possibilities. One of the biggest incentives for DeFi users entering the Kronos ecosystem is the opportunity to get a triple yield, through the APR of holding liquid tokens like zkCRO and vETH; DeFi products offered by decentralized applications, and loyalty points earned by users who complete ecosystem requests.
Cronos zkEVM isn't the Cronos Labs team's first rodeo and they've become adept at launching new networks. A pre-launch deposit program called Cronos zkEVM Passage has collected 100M CRO deposits, providing a solid foundation for the network to launch with liquidity and users on board. The ability to seamlessly move assets between other EVM chains, including zkSync, using a native Ethereum bridge is a bonus that will see liquidity increase significantly in the coming weeks.
Ken Timsitt of Kronos Labs commented on the startup process: “The Kronos team has a strong track record of leveraging the best of blockchain technology to create compelling use cases and contributing to these open source projects. With the launch of Cronos zkEVM and our integration with ZKsync, we want to help realize Ethereum's long-term vision on the path to infinite scalability and mainstream adoption.
Start a line of partners
As an amazing zero-knowledge technology, Layer 2 networking is more demanding to operate in the crowded multi-chain landscape. In particular, it requires quality apps that offer desirable services that are different from those on other chains. Ideally games, NFTs, and many other apps as well. In this regard, Cronos zkEVM seems well equipped with dozens of launch partners on board.
Wallets like Crypto.om DeFi Wallet, Rabby, and MetaMask all have on-chain support, while Kronos Core contributors like VVS Finance, Fulcrum Finance, and Veno Finance are building on the L2 network.
Kronos zkEVM is now in alpha stage, which is expected to last until the end of September. During this time, developers will monitor performance and gather feedback from users before moving into the beta phase. The launch of Cronos zkEVM means that Ethereum users now have another chance to run their L2 trades and explore the type of APR that the network's triple product formula can offer.
