VVS Finance Leads the Way to Success Cronos DeFi 2024

VVS Finance is a decentralized finance (DeFi) protocol built on the Cronos blockchain, which is itself powered by Crypto.org Chain. It launched in November 2021 and focuses on automated market making (AMM), liquidity providing, yield farming and staking opportunities. VVS’ native token is also called VVS, which can be used to earn rewards from transactions and provide liquidity to pools on the platform.Other key features include a Launchpad for new project launches, NFT marketplace, and lending/borrowing protocols.

Table of Contents

Role within Cronos ecosystem :

– Cronos aims to be an Ethereum-compatible L1 blockchain focused on DeFi and payments. It offers very low transaction fees.

– VVS Finance is one of the largest and most established DeFi protocols operating on Cronos, helping drive user adoption and liquidity.

– By providing yield opportunities, an NFT marketplace, and access to new project launches, VVS expands the utility and usability of the Cronos network.

– It competes with other Cronos DeFi platforms like Crypto.org, Mimas, and Osmosis but currently has the most developed suite of products.

Relationship to Crypto.com

– Crypto.com is the parent company behind the Cronos blockchain and cryptocurrency CRO.

– VVS has an close partnership with Crypto.com, which has provided funding and support to help VVS grow its ecosystem role.

– However, VVS remains decentralized and autonomous. Crypto.com does not have direct operational control over the protocol.

VVS Finance’s Recent Developments:

1. V2 Staking Utilities for xVVS Vaults:

In September, VVS Finance introduced enhanced staking utilities for their xVVS vaults, offering long-term supporters increased rewards for their participation.

2. Strengthening NFT Market with Cronos ID:

October marked a strategic partnership with Cronos ID, a Cronos ecosystem NFT platform, aimed at boosting the NFT market within VVS Finance and supporting artists and collectors.

3. IGO Launch of Cronos ID:

In November, VVS Finance hosted the Initial Exchange Offering (IGO) launch of Cronos ID on the VVS Launchpad, introducing a new project to the Cronos ecosystem.

4. Token Emission Rate Reduction:

November also witnessed VVS Finance halving its annual token emission rate as part of ongoing economic adjustments, demonstrating a commitment to sound economic governance.

5. Year-in-Review and Platform Growth:

A year-in-review post summarized VVS Finance’s growth and challenges over the past 12 months, providing insights into the platform’s progress.

6. Collaborations for Gaming and IGOs:

Throughout the year, VVS Finance engaged in partnerships, including a collaboration with GameFi project Defira in August and hosting IGO launches for Minted Network and Ferro Protocol in July and June, respectively.

7. Community Engagement through NFTs:

In July, VVS Finance introduced a collection of “Miner Mole” NFT profile pictures for its supportive community, enhancing engagement.

VVS Finance remains committed to enhancing its product offerings and expanding the Cronos ecosystem by exploring new integrations and opportunities for its users.

Gateway to the Decentralised Finance

Beta Launch of V3 Liquidity – September 25

In this post, Miner Mole provides an introduction to the beta launch of V3 liquidity pools on VVS Finance. This represented an upgrade that aimed to improve the efficiency and resilience of the automated market making protocol. No other details are given on specific changes or benefits of V3.

Fulcrom FTX Survivor Care Pack – June 21

This post from Miner Mole offers support and advice to users affected by the collapse of FTX exchange. It provides reassurance that VVS funds remain safely stored on-chain and outlines some tips for navigating the situation. However, it does not announce any new VVS initiatives or products.

VVS Yearly Emission Halving and 2022 Review – November 4

Author Miner Oz recaps the many developments over VVS’s first full year, including launching multiple platforms and establishing the VVS-Cronos connection. It then announces that annual VVS token emissions will halve going forward as part of responsible economic adjustments. Overall token supply and market performance are not discussed in depth.

Cronos ID Launch on VVS Launchpad – November 3

Details are given that identity protocol Cronos ID will be launching on the VVS Launchpad via an IGO sale event. This represents the resumption of IGOs after a period of inactivity. The post hypes the project’s benefits but does not include specifics about tokenomics or timelines.

Cronos Ecosystem NFT Boost Partnership – October 26

VVS announces a partnership with Cronos NFT platform Cronos ID to boost the profile and community of NFT artists. The collaboration aims to strengthen both projects but no clear incentives or programs are outlined.

V2 Launch of VVS Staking Utilities – September 14

This update introduces version 2 of staking utilities for xVVS vaults. It claims long-term holders will receive additional rewards and incentives but does not provide any numbers or timeframes for these. Overall it lacks specifics on how the revamp improves the staking experience.

Defira GameFi Partnership – August 29

A joint initiative between VVS and play-to-earn blockchain game Defira is announced to bring more gaming-related utilities and tokens to VVS. However, no roadmap or deliverables are shared for this partnership.

Minted Network IGO Launch – July 27

Details are given that data protocol Minted Network will launch on the VVS Launchpad via an IGO sale. As with other such announcements, tokenomics and timelines are excluded from the brief write-up.

Introduction of Miner Mole NFTs – July 7

The VVS “Miner Mole” NFT collection is unveiled to boost community engagement. While the cute art style is shown, the long-term vision and utility of these profile pictures goes undefined.

Ferro Protocol IGO Launch – June 1

A short post advertises that identity management project Ferro Protocol will launch via the VVS Launchpad IGO model, but is light on the key project details collectors would want to evaluate.

In summary, VVS Finance is a leading DeFi platform that helps drive usage and liquidity on the Cronos blockchain, while expanding the capabilities available to Cronos users.