Simple and Secure Liquid $CRO Staking with Veno Finance

Start earning the highest CRO staking yield on Cronos Chain

We are excited to announce the launch of Veno Finance, a simple and secure liquid staking protocol built on the Cronos blockchain.

Our goal is to provide users with a one-stop solution for staking their $CRO, earning the highest staking yield and allowing for immediate liquidity on their holdings without the hassle of traditional staking methods.

Introduction

Staking is a common mechanism to help secure a blockchain network. On the Cronos blockchain, users stake their $CRO to help secure the Crypto.org chain and in return earn staking rewards. However, with an increase in the adoption of Web 3, staking may be unfriendly to users who prefer immediate liquidity on their $CRO holdings. In the case of $CRO, the unstaking period is an exceptionally long 28 days and it can be difficult to manage. That’s where our liquid staking solution comes in making staking easier and more convenient for users.

Why Veno

With Veno Finance, users will be able to stake their $CRO and receive liquid $CRO tokens ($LCRO). $LCRO is an auto-compounding yield-bearing token, where its internal exchange rate on Veno will increase over time based on $CRO staking yields on Crypto.org. This means that users will be able to automatically accrue yield value from their staked $CRO, while also being able to use their $LCRO across partner Dapps in the Cronos ecosystem.

We are a vertically integrated liquid staking protocol focusing on cost savings, reliability, and security. Our node infrastructure and partnerships allow us to provide a highly competitive protocol, with enterprise-grade set-up and an insurance module to secure user funds.

Our aim is to maximize the adoption and utility of the $LCRO token across the Cronos ecosystem, and we are working with some of the largest partners in the space to make this happen.

Currently, we have the following partners onboard.

In addition to providing liquidity for $CRO holders, we also aim to maximize user liquidity by offering a tradeable NFT “IOU” after users unstake their $CRO. This allows for even greater flexibility and usability of the $LCRO token. Users can buy and sell these NFTs on Minted Network.

Moving Forward

Here is a breakdown of our roadmap in different phases. Currently, we are in phase 1.

As we move to phase 2, we will release $VNO. $VNO is Veno’s native governance token which can be utilized across the Cronos ecosystem. We have interesting plans for the tokens and will be distributing CRO rewards earned from protocol fees as part of the tokenomics. This is so that token holders can enjoy Real Yield.

We are still in talks with different partners about the token generation event so stay tuned on our socials to get the latest updates.