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Contribution and roles in Cosmos w/ Cronos Chain

Recorded: May 4, 2023



Hello, hello, welcome. We'll just wait maybe another minute and get started at 30.
Okay. All right. Can you hear me?
Yep, can you find a drakehead can you test your audio as well please? Okay, can you hear me? Yep, I can hear you. Thank you
Okay, we'll get started. Thank you everyone for joining today. We have a very special guest joining us from Chronos Labs. Just to give a quick background before Kent takes it away, Chronos Train has a very large and vibrant community and they build in areas like DeFi and Game
If I, um, chronos chain is built on cosmos SDK and ethernet with interoperability through IBC. Um, today we'll talk about the recent partnership between chronos chain and, uh, Crescent and also the listing and mostly on the ways each project is contributing to the growth and in a
of the larger cosmos ecosystem. We want to introduce Corona's chain to the larger cosmos and Crescent community, and this space will also be recorded for further content through our Crescent Academy. So I don't we start off with introductions. Could you introduce yourself, Ken?
Yeah, thanks a lot, Trey. And thank you for the invitation to this Twitter space. It's a pleasure to be here today.
So yes, so I'm so I'm Ken and I'm the head of Chronos Lab.
which is the ecosystem and protocol development arm of Kronoschain.
As you mentioned, Chrono's chain is the leading EVM compatible layer one chain built on the Cosmos SDK.
and it uses the EtherMint module.
So from the standpoint of application developers and users using Chronos is very similar to using another ITIAM chain with the same wallets, the same development tools.
And, however, there is this additional benefit from building on top of the Cosmos SDK, which is that we're
leveraging the tenderment consensus and its robustness and performance and were also able to connect to other
Cosmos Chains through IBC. So, Chrono's chain is a chain that has been supported by since it came about. It uses the crawl token.
R/O as the utility token to pay for transaction fees. And really the positioning of Chrono's chain is that it's targeted at mainstream users who
Typically, they have started their journey into crypto by opening an account at the custodial exchange and purchasing some Bitcoin and ethers. But then, what to take the next step and move from a custodial exchange to self-custodial
and Dify, NFTs, and Web3 gaming. And so, Chronoschain aims to develop an ecosystem of third-party applications that offer those interesting, but easy to use.
decentralized apps for users who are ready to start experimenting with self-custodic. In terms of metrics so far, so Chronoce is a top 10 chain.
amongst all layer one and layer two chains when measured by total value locked and a number of other metrics. It has a bit more than a million users today.
currently processing around 100,000 transactions per day, but of course the network can
support much more than that. So there is enough capacity to support millions and millions of transactions per day as we prepare for the next cycle. So those were the highlights. Thanks.
Yeah, thank you very much, Ken, and also for joining us. I was very surprised. There's a really vibrant and large builder community and also end user community on Chronos, but I was surprised to see that there
There may not be as much Cosmos users that are aware of the fact that it's built on SDK and EtherMint and that there are, you know, partnership and collaboration opportunities between Chrono's chain and the rest of Cosmos and we really wanted to
that point, especially through our partnership that we built up recently. Drake Cat, do you think it can introduce us? I don't think many of our users might know you. Everyone's seen, I guess, myself and young in all those spaces, but it's the first time we have
our PM join us on our Twitter space. Could you introduce yourself? Hi, I'm Dracat, PM from Present Team. My background is user experience and I'm doing a content and PM2. Thank you.
Yeah, thank you. So, Traycat is our head PM and he also works as front end developer working on a lot of the great UI and user experience that we're trying to provide for Cosmos and obviously our Crescent user
So Ken, I just, because we're both projects, you know, working in Cosmos and we're addressing the Cosmos community, could you tell us a little bit more about CronosChains, you know, integration with the Cosmos ecosystem?
and how it benefits developers and end users in terms of scalability and interoperability. I know you mentioned it a little bit earlier, but whether it be the development stack like IBC or the technology or the unique culture that Kronos chain holds.
Yeah, it's an excellent question. So first I would say that
the inception of Kronos chain.
really echoes some of the philosophies and approaches that underpin the cosmos ecosystem.
So there is this idea that
You can have
sovereign chains, you know, cooperating with each other as equals and growing and fostering
They're on the community. So there is this vision behind the customer ecosystem that change our
digital communities, in a bit like countries with their own quirks and culture and community and not everything aims to be standardized across all chains.
I think the inception of the chronost chain really echoes that vision. Additionally, so in terms of how chronost chain came about, so before chronost chain,
So, Chrono's chain is not the native chain for the Cro-Token. Before Chrono's chain and still today, there was an Ease another Christmas chain called the
chain and that's the native chain where the Krotokun is staked and emitted and also used as the utility token.
And the Christmas, the chain is really a vanilla Christmas chain in the sense that it's fully based on the Christmas SDK. It's used for payments and
and it has a taking module that members of the Coast Coast community have been using for years now to take their crawl and participate in the security and governance of the chain.
And so the the the cronus chain partly came about as a desire by that community to have a additional chain.
which would take advantage of the advances and developer tools of the Ethereum ecosystem, but would create additional utility for that crore token, which used to be and still is a mainstay of the Cosmos ecosystem.
So in terms of synergies with the cosmos world, I would say this is the first one that came about. It was really this idea that we take a cosmos token, a crow, and give to it additional utility by making it the utility
token on an additional chain besides the chain. So in this case, the kernel's chain and the nature of that utility would be different and more expanded because while the chain does not allow
Any developer to deploy their own app on it, by contrast, the chronos chain uses Solidarity for Smart Contracts, and anyone can create and deploy Smart Contracts and decentralized applications on it.
So that was the first step. Then of course, as time went by, we took advantage of IBC to create bridges and various connections with other cosmos chains.
The user experience. So today there are bridges with Cosmos Hub with Akash that's going to be another bridge launched soon, but besides that, it's always possible for
So the way that the tokens, the various tokens and cryptocurrencies are represented on cronos is such that in most cases it's
possible to bridge tokens between Krodostein and chain and then for
on the chain, which is fully compatible, then people can use the capital wallet or the defy wallet as they are used to and then bridge to any other customer's chain. So the user experience right now is
It's not ideal when it comes to connecting directly between the cross-mouse chain and cross-mouse chains, just because users have to, the wallets that you use on an EVM chain are
Most of the time is different from the wallets that you use on the customer's chain, except for the But it's the chain acts as a helpful bridge between those two ecosystems and as a complement to that.
Later, so that was I would say that was phase two or step two and that phase two is still ongoing in terms of creating more connections to other customers.
change and the recent connection with present and with takes there is an example of that.
And then, you know, phase three will be new use cases that leverage IBC and the cosmos SDK for more advanced cross chain functionalities. I think right now in the ecosystem.
Many of those functionalities are not fully fleshed out. And so I'd say we are still in discovery mode with respect to cross-chain security, cross-chain accounts, how to build decentralized applications that can control tokens and NFTs across-chain
and have good use cases for that. So I think we're still at the beginning of discovering what the killer apps are going to be in that respect. But the Chronos team and the cryptodot org team are certainly very involved in the Cosmos open source development community to try and figure that out.
Yeah, thank you for that. We definitely see a lot of innovations happening in the Kronos chain and a lot of maybe apps that aren't as developed within the rest of cosmos as a separate app chain, but we see a lot of potential
and this kind of synergy that will happen through, you know, IBC or using bridges between the rest of cosmos and chronos chain. And we'll get into, you know, maybe some other apps that you want to feature that's maybe not so prominent in cosmos. But another question that we have
You built this very big community and also through your Chronos Labs accelerator. What kind of strategies does Chronos Chain have in place to attract more developers and projects to build on its platform in its own unique way?
So, as you mentioned, Chronos Labs as a team has two main roles, the development of the protocol and the development of the ecosystem.
So with respect to
the developer ecosystem on Chrome's chains. So today there are around 500 decentralized applications, similar to other chains out of those 500.
You probably have 20 that capture 80% of the total value locked and the user activity. And then there's a long tail of a smaller but very promising applications.
So the way that we support them is a long a few dimensions. So first of all, I would say thanks to the partnership, the strategic partnership that we have with, we're able to
Act as kind of a gateway between application developers and the very large user community of as an exchange. So has 80 million users around the world.
Many of them in the US and Europe, but also in Korea and Japan. So many of them in countries that have
I have a track record of being extremely active in crypto and investing significant amounts in defy protocols. And because we have that strategic part
ship and we have a good integration of chronos dApps into the defy wallet which is their self-custodian wallet. The value proposition that chronos chain
has to develop us is that we're able to give them access to that large user base when they are ready to migrate to self-custody. And in itself, that's a very strong, very reposition and very strong magnet already.
Secondly, ChronoSLAB has various programs to support developers when we feel that there's a gap in the ecosystem or innovation that needs to be accelerated.
program and as an accelerator program, you know, very soon we're going to announce the startups who have been selected for the second cohort of the accelerator program and they
get grants, but they also get 10 weeks of mentoring, master classes and various types of support. And we've seen that in those programs, even though they are
The grants themselves can't, like finance the entire development of an app, but those programs are highly valued by developers, both because of the expertise that they give them access to, and because they kind of put the spotlight on them.
show that they have met a certain quality standard. And therefore, this has been very beneficial for apps in terms of making users aware of what they're doing.
And finally, like you do, we have always on marketing activities to increase the awareness of Kronos chain users about the new devs that are launched.
So exactly like you, you know, we have a very active, we have very active social media channels and we organize Twitter spaces and AMAs very frequently in order to feature new dabs that are going to check on the chain.
Yeah, it seems very great. I can see through your accelerator program and also your grants. Chrono's chain is building a very balanced ecosystem of different utilities and different apps that serve different purposes.
In your experience with Chrono's chain and you see all these innovative apps coming up, maybe not, you don't have to mention specific apps, but do you see any areas of blockchain that's being built in Chrono's chain?
that you know may not be as much because how Cosmos at the moment seems very de-fifocused although we do have you know NFTs and app chains like that smart contract platforms but do you see any unique
apps that are being built on Chrono's chain that could potentially synergize with Cosmos later on with IBC or a sector that you see is very vibrant on Chrono's chain.
So, so, so, Kronos chain is very is, you know,
has vibrant ecosystems across the three verticals that we are promoting through our programs and the accelerator program which is funded by a hundred million dollars a month.
So those three verticals are defy NFTs and social and Web3 gaming. And so at, you know, I would say that all three verticals have synergies with the Cosmos ecosystem.
offer ways for users to diversify their crypto-rulings to look for
whatever is the highest yield on their cryptos, whether it's for staking or liquidity provision or other mechanisms. And so it's really up to the users to
Take the take charge of the their needs to differentiate their asset their assets So to diversify the asset sorry
so that they can manage the risk of their whole development portfolio. In terms of
Dabs that are worth mentioning so I would say in the
in the defy space.
And most of the primitives that you would expect from a well-functioning defy ecosystem are present on RONOS. So you have decentralized exchanges like
like VVS and MMF, stablecoin, automated market makers like Pharaoh, you have a liquid-taking protocols like Vino and Argo.
and more, and you have landing protocols like tectonic. What I'm very excited about, and I think
is going to be like the the future of the five both in the EVM and in the customer space are trading protocols that make it possible for end users to trade futures
and the perpetuals when they are outside of the US, because in the US it's of course not possible. And so recently on on Kronos we had two protocols, one
called Fulcrum and another called Madmix who launched and are offering perpetuates. I think it's going to be very promising. And I think in the customer space on DAP chains with ZYDX and others, we're going to see a similar trend as well.
And secondly, I think if you think about dabs that are not as
As well featured, or use cases that are not already as well featured in the Cosmos space, you pointed out that the Cosmos space tends to be more focused on defy and taking. And by contrast what I will highlight is that on Chronos there's a well developed NFT and gaming ecosystem.
that we've spent a lot of time investing into. So there are two NFT marketplaces, one called Mintid and another called IBSUSB, who have very rich communities of creators and NFT collectors, but also a lot of
games are using NFTs as in-game assets and building on top of that NFT ecosystem. And so right now, I think the most successful games are, so one called Digipals.
another one called Ballies and the third one called Boomer Squad. I think those are worth checking out but there's a much longer list of Web 3 games that are in the process of developing or being launched and we find that they're exciting.
Yeah, very cool, very cool. Those are definitely areas that I feel Cosmos will be touching on later on and we will see projects happening but very cool to see them on Kronos chain. It seems like a very balanced ecosystem.
So I want to also ask Drake Kasins here as the head PM of Crescent and Frontend Developer. What are some areas that from our roadmap that you want to highlight and maybe some collaboration points with CronosChain that you see?
Okay, when it comes to a collaboration, I want to talk about it in the aspect of user experience. We take user experience as a series re as the core blockchain technology itself, and we think Chronos team does too. I derivative that in the
the WebSeries world, the user experience starts with the world ads. As a starting point for this WebSeries experience, Kronos says great world ads. Mobile world ads both for Android and iOS, and Web extension world ads that can be easily connected to your mobile world.
and even desktop world, so I like retro life, but far better than that. This world can satisfy your wide range of vision needs. So I hope to, I hope, interpret this also more as into our website in the near future. By doing this, present to you
users can enjoy your great wallet experience and go into amazing cross ecosystem with peer-to-deaf browsers. And when it comes to cross users, they can expand their Dubai journey to the crescent that has sophisticated technology, like MIVWProtest.
You just read features. And you asked me about the roadmap, right? Yes, could you share some about the roadmap? And I know, can also mention about perpetuals and futures. Maybe you can talk about our big reveal as well.
Okay, for those of you who are reasoning to this, this to-to space I want to share a little bit about the Alpha that is not mentioned before Alpha is we are preparing for the sub end game. Sub end game is quite simple. In most current
up so you pay one coin and receive one coin. You pay atom and receive a sumo, it is very natural for now. But in the subend game, you can set any number of coins as the pay coin and receive a coin. For example, you can set atom either WPTC as a pay coin
them set chronos and present as a visible coin and you can swap it at once. During this process, the best price allowed is automatically selected by the core. In addition, we will be adding a number of reconvenience
features and site. For example, Crescent Impostite, it is like Uniswab Impro. And when it comes to derivative, for now I can't disclose too much sharper, but one thing I can assure is our new derivative product is one of the kind product. I mean,
last year we were the first to introduce concentrated liquidity to the Postmas ecosystem as was the last year the derivatives we will be creating will also be new to the Postmas ecosystem so stay tuned for that thank you
Yeah, sounds great. Thank you, Drake Cat. And Ken, we're running almost to the end right now. Just one last question. Can
And you share some future developments or milestones that Kronos chain aims to achieve in the coming years or even blockchain moves quickly in the coming months.
Yeah, so at the protocol level, we're really
uh following and contributing to
very interesting technical advances that are spearheaded by the Cosmos community. So I would say, you know, overall we continue to work on optimizing
The main dimensions that according to which we measure the performance of the chain, which are scalability, transaction costs, sustainability in terms of carbon footprint, and like function
But broadly, I would say, all the advances that you see coming out of the Cosmos community and that have a use case will be very keen to integrate them into a new community.
Corona's chain and you know this will of course strengthen the interoperability and cross chain use cases that can emerge from that. So we're very excited by that and our team continues to be very actively committed to the Cosmos ecosystem.
And then if I'm looking at the next 12 months, I would say probably given that the
As an industry, the goal right now is to rebuild trust so that end-user, mainstream end-user start coming back to crypto and to defy. And we can deliver that promise of mainstream adoption of Web 3.
I would say our main focus 80% of our efforts are really on developing the data ecosystem, particularly through use cases that are easy to understand and our future proof with respect to the next wave of crypto adoption. So in D5,
I think the derivatives like for you are part of a big push and I think it's going to be a major driver of the innovation and the activity going forward. So congratulations on your new product launches. And then besides that, I would say gaming has and will continue
new to be a major area of focus for us. So it's not one single announcement, but tens of games. As we know, games take longer and are more difficult to develop than different protocols. So the effort involved in fostering the game ecosystem on Chronos
has been substantial and continues to be so. I can see on my radar probably 20 games that I think you have good chances of being successful that are going to grow our launch in Cronos this year. And so we're very focused on making sure that the community knows about them and can trade them out.
Yeah, as I mentioned in the beginning and throughout this roundtable, we really see a lot of innovation and a lot of building happening on Kronos chain and we're very happy to invite you back anytime.
We feel that Cronos change should be more connected and more involved with the Cosmos community and the kinds of services and innovations that it can offer to the larger ecosystem. Thank you very much for
for Ken and Drake Kev for speaking today. And also to our listeners, I know it may be very early or very late for a lot of the listeners, but thank you for coming today. I think it was a very fruitful conversation and we got to learn a lot.
For me, at least a lot about the thesis and messaging for cronos and what it can offer in the future. So thank you everyone and we'll see you on the next edition of Crescent Roundtable. Thank you.
Thanks a lot. And again, good job with the progress of Crescent. Take care. Bye.

FAQ on Contribution and roles in Cosmos w/ Cronos Chain | Twitter Space Recording

What is Chronos Chain and what community do they have?
Chronos Chain is an EVM compatible layer one chain built on the cosmos sdk. It has a large and vibrant community that builds in areas such as DeFi and gaming.
What is the benefit of building on top of the Cosmos SDK?
Building on top of the Cosmos SDK allows for leveraging the Tendermint consensus for robustness and performance and connecting to other Cosmos chains through IBC.
What is the positioning of Chronos Chain?
Chronos Chain is positioned as a chain targeted at mainstream users who are ready to start experimenting with self-custodial DeFi, NFTs, and Web3 gaming.
What metrics does Chronos Chain have so far?
Chronos Chain is a top 10 chain among all layer one and layer two chains when measured by total value locked and a number of other metrics. It has a bit more than a million users today and currently processes around 100,000 transactions per day.
How did Chronos Chain come about?
Chronos Chain came about as a desire by the community to have an additional chain that would take advantage of the advances and developer tools of the Ethereum ecosystem, but would create additional utility for the CRO token, which used to be and still is a mainstay of the Cosmos ecosystem.
What is the first step in the synergy between Chronos Chain and the Cosmos world?
The first step in the synergy between Chronos Chain and the Cosmos world was to take a Cosmos token, CRO, and give it additional utility by making it the utility token on an additional chain besides the chain.
What is the user experience like for connecting directly between Cosmos chains?
The user experience is not ideal for connecting directly between Cosmos chains because the wallets used on an EVM chain are different from those used on the Cosmos chain, but the chain acts as a helpful bridge between those two ecosystems.
What is the recent connection between Chronos Chain and Crescent?
Chronos Chain and Crescent recently partnered and listed each other's tokens. This partnership allows for more connections to other Cosmos chains and the potential for new use cases that leverage IBC and the Cosmos SDK for more advanced cross chain functionalities.
What is the vision of the Cosmos ecosystem?
The vision of the Cosmos ecosystem is that sovereign chains can cooperate with each other as equals, grow and foster their own communities while changing the digital communities in a bit like countries with their own quirks and culture.
What benefit does building on top of the Cosmos SDK provide for developers and end users?
Building on top of the Cosmos SDK provides scalability and interoperability for developers and end users by leveraging the Tendermint consensus for robustness and performance and connecting to other Cosmos chains through IBC.