Thetanuts is Live on Cronos!
Thetanuts is now live on Cronos!
Users can begin depositing into CRO Covered Call and Put vaults earning sustainable yield with their CRO and USDC. The integration with Cronos marks a significant step in making DeFi accessible to one of the biggest consumer driven communities via Crypto.com
Background
Thetanuts is a multi chain protocol looking to provide accessible yield generation opportunities for the everyday user. The deployment on Cronos provides Thetanuts an opportunity to access a rapidly growing customer base of ~10 million users who can on-ramp and access DeFi seamlessly.
The current DeFi user experience can be challenging for the everyday user. Although there has been many MetaMask downloads and greater awareness. We see that with the strong partnership with Crypto.com, Cronos ecosystem creates a low friction onboarding process via Crypto.com’s suite of products and services.
Crypto.com currently supports more than 100 major tokens. This allows the Cronos ecosystem and Thetanuts to on-ramp wrapped versions of various major tokens onto Cronos chain to create DeFi Option Vaults for the various Alt-coins.
This programme begins with CRO. More to follow.
Accessing Thetanuts
Users can begin to stake their CRO on Thetanuts by connecting their MetaMask wallets and selecting Cronos chain. There, users can select the vaults that they are interested in and deposit their collateral.
Defi Option Vaults earn yield for users by selling options to whitelisted marketmakers. The upcoming CRO vaults will sell options starting from 14 January 2022 0930 UTC onwards.
Deposit before 0930 UTC to be part of the yield generation. The APY will be generated when the Marketmaker pays the premium into the vault. These vaults are currently rolling bi-weekly. Enabling depositors to earn a round of yield every two weeks.
Connecting to Cronos
Instructions on how to set up Cronos on your Metamask wallet can be found here: https://cronos.crypto.org/docs/getting-started/metamask.html
To bridge assets to Cronos, you can use the Crypto.com exchange and app and withdraw assets to Cronos chain. Learn more here: https://cronos.crypto.org/docs/bridge/cdcapp.html
You can also bridge CRO assets between the Crypto.org chain and the Cronos chain using the Cronos Bridge: https://cronos.crypto.org/docs/bridge/webapp.html (for bridging CRO between Crypto.org chain and Cronos Chain)
About Cronos:
Cronos is the first Cosmos EVM chain for DeFi, NFTs and Metaverse. It aims to massively scale the DeFi and decentralised application ecosystem, by providing developers with the ability to instantly port apps from Ethereum and EVM-compatible chains. With low cost, high throughput, fast finality, and built-in interoperability, Cronos is poised to bring decentralised applications to the 10M+ user base of the Crypto.com ecosystem and beyond.
About Thetanuts:
Thetanuts is a multi-chain structured products protocol currently deployed on ETH, AVAX, Boba, BSC, Cronos, FTM, Near Aurora, Oasis. It has the widest selection of alt coins supported and more to come.
