Cronos Mainnet Launch — A Catalyst of DeFi on Cosmos and Beyond

By October 10, 2021DeFi
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Cronos Mainnet Launch — A Catalyst of DeFi on Cosmos and Beyond
Crypto.com CEO tweets about Cronos Mainnet launch.
  • Anziani says it will be “the catalyst for a huge and thriving DeFi ecosystem on Cosmos and beyond”.
  • He also said that “Crypto.com’s research team saw how institutions are adopting DeFi as a hint of what’s to come.”

Last September, Crypto.com CEO, Eric Anziani, announced the launch of Cronos Mainnet with Smart Contract and EVM. Following this, Anziani now describes how the Cronos Mainnet launch will be for the public.

#Cronos Mainnet launch will be the catalyst for a huge and thriving #DeFi ecosystem on @cosmos and beyond!https://t.co/bbHWVWkrFf Research team recently looked at how Institutions are progressively adopting #DeFi as a hint of what’s to come

Read below to find out more pic.twitter.com/FjzhmGx9SQ

— Eric Anziani (@ericnode) October 10, 2021

The DeFi (decentralized finance) space has been tremendously growing. To clarify, DeFi is the technological shift from the closed financial system towards an open financial system that is based on public blockchains. In DeFi, as Anziani says, asset management protocols act as traditional funds that entail smart contracts. This, moreover, provides investors with more control, efficiency, and transparency in the fund management.

According to Anziani, the Cronos Mainnet launch will be “the catalyst for a huge and thriving DeFi ecosystem on Cosmos and beyond”. He added that the research team at Crypto.com has recently looked at how institutions adapt and adopt DeFi and are progressing towards a better future.

In his tweet, he said that at the moment, there are several types of DeFi assessment management protocols, namely:

Further, these yields attract whales and institutions towards DeFi. In the graph shown in his thread, it is clear that the number of addresses increased. It is evident that there are addresses that hold more than 10,000 ETH — that increased by about 11% since 2021 started.

Anziani also named the DAOs that are decentralized, autonomous organizations owned collectively by their members. These DAOs, furthermore, are governed using smart contracts and not by boards of directors.

Finally, Anziani stated that presently, institutions take interest in DeFi. Its overall momentum is increasing — from investing in digital assets to allocation, funds, and much other exposure.

Indeed, the adoption of DeFi, as hinted in Anziani’s tweets, holds a lot of benefits and promises. With how DeFi is developing and expanding at the present, the public just needs to see how it can truly transform the future of finance.

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