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

by Mike Robinson

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Cronos Mainnet Launch — A Catalyst of DeFi on Cosmos and Beyond
  • Crypto.com Chief Executive Officer tweets on Cronos Mainnet’s 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.”

Eric Anziani (Crypto.com CEO) announced that Cronos Mainnet would be launched with Smart Contracts and an EVM last September. Anziani now explains how Cronos Mainnet will launch to the public.

Decentralized finance (DeFi) has seen a tremendous growth. DeFi, which stands for decentralized finance, is the technological transition from closed financial systems to open financial systems that use public blockchains. DeFi’s asset management protocols, according to Anziani are traditional funds, but they also include smart contracts. This gives investors more control over the management of their funds and allows them to be more efficient, transparent, and effective.

According to Anziani, the Cronos Mainnet launch will be “the catalyst for a huge and thriving DeFi ecosystem on Cosmos and beyond”. Anziani said that Crypto.com’s research team has been looking at DeFi adoption and adaptation by institutions and is moving towards a brighter future.

His tweet stated that currently, DeFi has several management protocols for assessment.

Additionally, DeFi institutions and whales are attracted to these yields. It is evident that addresses have increased in number as shown by the graph in his thread. It is evident that there are addresses that hold more than 10,000 ETH — that increased by about 11% since 2021 started.

Anziani identified the DAOs as autonomous, decentralized organizations that can be owned by all members. Additionally, these DAOs are managed using smart contracts, and not boards of director.

Anziani said that DeFi is currently being pursued by institutions. 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. The public should only be able to envision how DeFi can transform finance’s future, given the way DeFi is growing and evolving at present.

Continue reading on CoinQuora

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