Cronos Labs is supporting seven projects with its latest grants, including OpenLeverage, BitQuery, Kairos, Unmarshal, SubQuery, Hummingbot and Market.
Cronos Grants to Seven Projects
Cronos Labs, the startup incubator of the Cronos Chain, recently released the latest set of protocols that would receive financial aid and mentorship under the Cronos Ecosystem Grants scheme.
The Cronos Ecosystem Grant was set up in December 2021 to support innovative projects building on the chain. In the past year, the grant has run five cycles. In a tweet on Oct. 3, the chain unveiled seven protocols as winners of Batch #5 of the grants program.
The Lucky Seven
A total of 180 protocols applied for the fifth batch of funding in the following categories: Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), Gaming & Metaverse, Tools & Analytics, Critical Infrastructure, Social Goods and Community Engagement, other Web3 Applications.
Here are the seven projects who won grants:
OpenLeverage
OpenLeverage offers users permissionless leveraged lending and margin trading. The platform took part in Season 4 of Binance Labs’ Incubation Program and afterward received strategic funding from Binance Labs. Back in September, OpenLeverage teased its SocialFi concept, which aims to build a Web3-style social network for DeFi protocols and their communities.
BitQuery
BitQuery is a chain-agnostic on-chain data services provider. The platform’s suite of APIs, Dashboard Analytics, Explorers, Widgets, etc., enables Cronos blockchain data to be queried, parsed, indexed or stored. In September 2022, BitQuery raised a seed fund of about $8.5 million through prominent investors, including Binance, Pulsar Global, OKX, etc.
Kairos
Kairos is an innovative lending protocol pushing a new use case for NFTs. The protocol permits users to deposit their NFTs as collateral. Currently, Kairos supports the top 10 blue-chip NFT collections, including Bored Ape Yacht Club, Doodle, CryproPunk, etc. If a borrower fails to repay their loans, the platform will put up the borrower’s NFT for auction.
Unmarshal
Unmarshal provides decentralized multi-chain data aggregation for NFT, Metaverse, and DeFi applications. The platform is expanding to Cronos Chain, bringing its data API and other products to Cronos.
SubQuery
SubQuery is building an open, fast, and flexible data indexing framework to power Web3. SubQuery supports data indexing across over 100 supported networks and is deploying on Cronos. SubQuery’s open-source API will enable Cronos dApps to query blockchain data with fast sync times.
Hummingbot
Hummingbot provides traders with tools to build professional crypto trading bots for arbitrage and market-making. Hummingbot will launch its gateway with utilities for automated arbitrage strategy management, etc.
Market
Market enables a permissionless community-centered lending experience. The platform aims to provide equal lending opportunities for the DeFi community. Users of the protocol earn returns when collateralizing their assets on isolated markets.
The Cronos ecosystem is rapidly expanding, fueled in part by the Cronos Ecosystem Grants initiative. A total of 26 projects have now benefited from the grants, while according to Cronos News, over 200 projects have been built on the chain.
What Is Cronos:
Cronos is an Ethereum-compatible layer-1 blockchain network built on the Cosmos SDK technology. The network was designed to scale the decentralized finance (DeFi) sector and user base of the decentralized application (dApps) by enabling developers to instantly port dApps and assets from other layer-1 blockchain networks like Ethereum, Solana, BNB Chain, and Terra.
Where to find Cronos:
Website | Documentation | Twitter | Telegram | Discord | Github
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
