Cryption Network, a decentralized platform focused on solving issues hindering cryptocurrency adoption, has announced the commencement of cross-chain staking on the network.
According to reports, this initiative makes it possible for users on Cryption network to stake their $CNT from the Ethereum mainnet directly to Polygon using a click. The newly introduced automated staking process makes it arguably the most decentralized, open, and trustless process.
“Under usual circumstances, CNT holders on Ethereum would have to bridge CNT from Ethereum to Polygon manually in order to participate in staking. But we have worked this out by automating the process and rationalize the process to take part in staking.” the report stated.
Notable Developments On Cryption Network (CNT)
Earlier in the week, Cryption Network added the staking, and farming feature on its network. They also pointed out that native token holders will be able to earn rewards from staking CNT on the platform.
The feature already started rewarding users. It’s expected to create an opportunity for Cryption community members to earn rewards from their CNT tokens as well as form an important part of the Cryption tokenomics.
The farming feature on the network also went live. The liquidity mining of CNT LP tokens will reportedly improve the volume and liquidity in the CNT trading pair.
In addition to unveiling its staking and farming feature, Cryption Network recently secured several partnerships for the development of the DeFi ecosystem.
The network partnered with Unilend Finance, a permission-less decentralized protocol; Knit Finance, a DeFi platform focused on cross-chain and multi-chain synthetic assets, and Frax, the world’s first fractional-algorithmic stablecoin.
About Cryption Network (CNT)
Cryption Network is a decentralized platform with the aim of simplifying the transition from fiat to cryptocurrencies for retail investors. The network created its set of user-friendly products to reach this goal. Users also enjoy a low-fee DEX, hands-on service to aid DeFi projects as well as a market maker that can create a market for any event.
The native token of the network is CNT, which serves as the backbone for every transaction because a proportion of every transaction fee is used to buy back the token. The Tokenomics of the network are set up to give Cryption the advantage over competitors and to promote the sustainable development of the ecosystem.
As of the time of publication, Cryption Network’s price was $0.287217 with a 24-hour trading volume of $189,430. CNT price is also up 0.5% over the last 24 hours.
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