CRONOS LABS, the company responsible for managing CRONOS EVM and Cronos ZKEVM networks, has announced a strategic partnership with Layerzero.
Integration will allow Blockchains related to the exchange of Crypto.com to navigate between more than 115 supported chains.
The cross series protocol is already active, but user features will be activated in the coming weeks.
Let’s see all the details below.
Layerzero operating protocol is active on CRONOS EVM and Cronos ZKEVM chains
Cronos Labs just revealed to its community an important strategic cooperation with the decentralized protocol layer.
The partnership opens the doors of the interconnection on CRONOS EVM and Cronos Zkevm Blockchains, currently associated with the ETHEREUM implementation environment.
In particular, Layerzero’s implementation is allowed on the two networks (both in Mainnet and Testnet). Connect CRONOS users to about 115 supported chains.
Also among these is the presence of Blockchain like Solana, various levels of 1 and level 2, such as enhancing total liquidity.
Even today, Cronos EVM, the main level, can communicate with the IBC ecosystem chains and with those compatible with ETHEREUM.
Instead, CRONOS ZKEVM, Rollup 2, was able to move between the original ETHEREUM bridge and 10 other flexible chains of the same type.
With Layerzero merge everything changes, add countless communications across the chain, Usable with low -cost expansion.
Developers can now create new inter -operating applications, able to provide their flexible services to CRONOS users, and seize many opportunities in the vast Blockchain world.
More specifically, the main feature is related to the fact that with such a cross coverage, one can benefit from the uniform liquidity that solves the retail problem.
Regarding the issue of the case, Ken Timset, CEO of Cronos Labs, and mentioned it at the press conference:
“The interfering operating across the chain was one of the main priorities of the CRONOS project from its inception. Given the great security and liquidity challenges associated with the fragmentation of the cryptocurrency sector, Cronos Labs works on this priority with caution and design. By 2025, we expect a much larger contact between traditional encryption and financing projects. Integration with Layerzero allows this. “
New series features coming for Cronus users
Currently, the Layerzero protocol is already on the CRONOS series, however, many features have not yet been added by developers.
It is estimated that in the coming weeks Chronus The new team will announce Serial exchange chain Difficulties.
In particular, it is possible that the new series block solutions will be combined on the project’s official bridge platforms, which are Cronos.org/bridge For Cronos EVM and Zkevm.cronos.org/bridge For Cronos Zkevm.
This will definitely include a new way to transport CRO and ZKCro resources to other networks, including Solana.
Then in addition to bridges, Cronos Labs wants to focus On developing new decentralized applications It is able to take advantage of the capabilities of Layerzero.
On the other hand, in order to succeed in the decentralized ecosystem, it is necessary that DAPPS based on it is able to provide interesting services capable of attracting new users from other encryption facts.
In detail, use cases are expected such as: chain prediction markets, RWA symbol, artificial asset trading, lending protocols, recovery, and other typical DEFi products.
Currently, the presence of CRONOS in the world of Blockchain apps is disappointing compared to the rest of the industry.
the EVM Cronus The network is struggling to restore the lost land in recent years, and remain in a TVL from $ 488 million.
On the contrary, it appears that Cronos ZKEVM is growing compared to the past months, but it travels at TVL with a value of only $ 25 million.
Brian Pellegrino, CEO of Layerzero, is sure that this integration can create Foundations for strong expansionEspecially in the ZKEVM sector.
These are his words:
“CRONOS ZKEVM is one of the first flexible chains in which Layerzero expands, which is exciting, as the central point for inter -operation connects different types of chains. I am excited to see what was built here!”
Some data on the series of Layerzero protocol
CRONOS integration is the latest example of the continuous assembly activity by Layerzero.
The interconnection protocol, born in March 2022, has yet includes more than 115 destination chains.
In total, since its inception, it has hosted 5.6 million users compared to 111 million transactions through the series, allowing more transfer 41.75 billion dollars (Data from Sand dunes).
This project literally exploded from March 2023, ascending, following the incentives of society for the distinctive symbol of the Airdrop of the Zro.
Several farmers used the protocol widely with the only purpose of qualifying to distribute ZRO, which now benefits from $ 413 million.
From May 2024, the number of daily transactions has decreased to the negative side by more than 10 timesHighlighting the amount of the previous activity.Artificially inflated. “
To give an idea at Top Layerzero, about 500000 TX was calculated per day while today represents only 6000.
Very curious to monitor too How to convert the protocol users on the various Blockchains that support it.
Ethereum seems to be, for example, has a larger market share now after the TX number collapsed, instead of the maximum expansion period in Layerzero.
As for optimism and definition of the second layer, attention was growing, although the number of transactions involved had collapsed.
I lost the pipelin, fantom, ice collapse, Ceo and Gnosis, positive traction, and users have been increasingly used, reflecting their low participation in the chain.
The BNB series also left part of the large market shares that it had throughout 2023 on the table, although it is still the protagonist.
Instead, the base of its numbers witnessed an increase, due to its expansion in 2024.
