Cronos’ new accelerator program will boost its ecosystem growth thanks to the $100 million in funding so let’s have a closer look at our latest cryptocurrency news.
Cronos’ new accelerator program backed by industry giant Crypto.com, announced a 10-week accelerator program with $100 million in funding. According to the press release, Cronos launched the so-called Cronos Accelerator Program which is a 10-week initiative with $100 million in funding that aims to sustain the momentum in the space and to provide the developers with more incentives to continue building. The projects that get the green light will be matched with other industry mentors that have relevant experience.
Also, Cronos Labs will host weekly workshops that will include external subject matter experts and their focus will be on various topics that are related to decentralized protocols. Speaking on the matter was Ken Timist who is the managing director at Cronos Chain and the Lab’s Accelerator who said:
“Through Cronos Accelerator, we want to enhance the potential of projects that sincerely want to help grow the ecosystem by providing support in almost every area of their operations. In the current climate, it is more important than ever to put our heads down and start building aggressively.”
The release added that the seed investment opportunities from the accelerator will range between $100K and $300K. the news came on the back of Crypto.com receiving provisional approval to offer crypto-related services in Dubai a few days ago.
As recently reported, The crypto.com CRO rebranded as the token of the crypto.com exchange changed its name to Cronos which is a well-known ecosystem already. The token that is native to the Crypto.org and Cronos EVM chains will not see its ticker symbol nor its mechanics change. The platform announced the rebranding in a medium blog earlier today and said that the new name is meant to reflect the decentralization of the coin and the huge growth of the Cronos ecosystem.
The adoption of the Cronos chain scaled fast since the last and now has over 350,000 unique addresses on-Chain with $15 million in trading volume and $2.5 billion TVL which makes it the 10th ranked platform by value locked in about four months. Crypto.com is inviting more developers to apply for funding from the $100 million ecosystem fund at Particle B with about 120 developers that are already built on the platform.
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