Top cronos news august week 4

We provide Cronos Chain news and updates every week. The fifth week of August had seen many updates from Cronos ecosystem projects.

This week’s Cronos updates include the launching of CronosID, identification, and communication protocol on Cronos. Also, you can read about other Cronos ecosystem updates and news from the previous week.

1) CronosID goes Live

Cronos ID is an incubated project of Cronos Chain ecosystem accelerator Cronos Labs. It has released its identification and communication protocol on Cronos to resolve the most difficult social networking issues faced by Web3 users.

Cronos ID’s product framework will have three core protocols that will be developed in phases, including:

  • Cronos ID Domain Service: Allows users to link .cro domains to EVM wallet addresses. They may send and receive cryptocurrency to and from their domain, as well as create subdomains for their community’s use. Users may also host their IPFS webpages and Non-Fungible Token (NFT) galleries on the website.
  • Cronos ID Notification Service: Enables users’ wallet addresses to get alerts of on-chain and off-chain happenings without having to monitor the Decentralized Application (dApp) or holdings.
  • Cronos ID Messaging Service: Users may communicate with other people by using wallet addresses or domains. This guarantees that all users’ discussions are verified and authentic.
2) Mad Meerkat Ready to Unlock MMF Tokens

Mad Meerkat Finance’s community members strongly supported an early distribution of 15 million $MMF. That funds will help the listing of its Polygon token on a “Tier 1” centralized exchange (CEX). MM Finance told its users on August 23 in a blog post that 85.13% of votes cast supported the suggested early unlocking.

In a recent blog post, MM Finance tried to calm fears that a future CEX listing might result in a dump of MMF (Polygon) tokens, similar to what happened when Cronos MMF was listed. The initial CEX listing of Cronos MMF was affected by the fall of $LUNA, which caused many investors to exit their trade positions for safety, according to MM Finance.

With the planned listing of MMF (Polygon), MM Finance said that its cooperation with a “strong tier-1 CEX” will define that there will be no restriction to the amount of $MMF that retail end users may trade, allowing more people to buy $MMF.

Regarding the requirement to pay for the CEX listing, MM Finance stated that it is an industry-standard practice. Since the listing fee is necessary to “enable administrative and coordinating work for all parties.”

3) Has Renovation Plans for Famous Los Angeles Arena shared a video of some of the adjustments it plans to make to Los Angeles’ famous Arena in a Twitter post last week. The Arena was formerly known as the Staples Center. In November 2021, paid $700 million for name rights. On Christmas Day 2021, the name was officially changed.

The website The arena is an icon of Los Angeles. It was built in 1999 and serves as the home ground for:

  • Los Angeles Lakers men’s basketball team
  • Los Angeles Clippers men’s basketball team
  • Los Angeles Sparks women’s basketball team
  • Los Angeles Kings hockey team

It also serves as a venue for a variety of events, including the Grammy Awards, massive concerts, marquee boxing contests, and major Hollywood award ceremonies.

The timing of the planned upgrades to the Arena, which will cost millions of dollars, may surprise some. It is because the business recently cut 5% of its staff in the context of the “crypto winter”, which has posed complex existential problems for many companies and platforms in the market.

4) Aletheo Protocol is Expanding to Cronos

Avalanche and Fantom-based blockchain marketing platform, Aletheo Protocol, has announced that it is expanding to the Cronos network.

The project team revealed their new venture on Cronos on Thursday with a tweet. The team expressed its hope for an impartial usage of their technology in the crypto environment by both big and small projects in the future. It also stated that Aletheo and the platforms that use it both benefit from its solutions.

Aletheo also announced other functionalities. Such as its post-to-earn framework, which will serve as an NFT utility. It also mentioned giving stackable LET tokens to NFT holders as a reward. It also disclosed a 5% off LET token presale that is happening right now on the Cronos network.

5) Successfully Audited by Deloitte

The worldwide auditing company, Deloitte, completed’s Service Organization Control (SOC) 2 Type II Compliance Audit for data protection and security.

On August 23, Cronos officially tweeted about the audit’s confirmation. The audit confirms that complies with the AICPA’s Trust Services Criteria in its security operations and procedures. Jason Lau, the Chief Information Security Officer of, said the audit is a significant step toward offering clients a safe ecosystem.’s SOC compliance validates its status as a safe virtual asset service provider.

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