Chronos Finance
2023
October 11: Upcoming updates introduced
- Chronos TAG; a layer that can drive cheap liquidity for protocols to accelerate sustainable network growth and revenue for all Chronos users.
- Automatic voting rewards
- FIAT on/off ramp
- Cross-chain Swaps
- Deploy new CLM technologies
September 27: Application for the Arbitrum Short-Term Incentive Programme Grant Application
- 125,000 ARB will be allocated to fund trader incentives on our upcoming derivatives exchange ChronoX.
- 400,000 ARB to fund a brand new liquidity infrastructure plan called Chronos: The Arbitrum Gateway (Chronos TAG).
August 25: Security and transparency enhanced.
July 28: Full release of V2 beta.
July 18: V2 beta launches.
July 2: Chronos’s own fNFT marketplace go live.
- With the release of this dedicated fNFT marketplace, Chronos is taking another huge step toward fulfilling their vision and becoming the top DEX on Arbitrum
June 18: Partnership with Gains network.
- Gains Network offers a suite of decentralized services centered around gTrade, a synthetic derivatives trading platform that allows users to trade crypto, forex, stocks, commodities and more completely on-chain.
June 9: Partnership with Olympus DAO.
- Olympus’s mission is to make OHM the reserve asset for DeFi; unlike stablecoins, whose value is pegged to another asset, OHM has no fixed price. Instead, it’s underlying value is backed by the Olympus treasury, which is itself made up of blue-chip crypto assets
June 6: Partnership with Rocket Pool.
- Rocket Pool is an Ethereum 2.0 staking pool.
June 5: Chronos V2 details published.
- A significantly enhanced version of the DEX. This new update is set to bring a plethora of changes, including:
- Stat upgrades.
- Referral system integration (DiBS).
- NFT marketplace.
- UX improvements.
- Concentrated liquidity.
- maNFT upgrades.
- CHR Emissions Revisions.
May 31: Chronos V2 announced with an initial sneak peak of the upcoming NFT marketplace UI.
- Exclusively built to optimize trading of chrNFT, veCHR, and maNFTs.
May 24: Partnership with Goldbank Finance.
- Goldbank is a community-owned lending protocol that enables seamless borrowing and lending on Arbitrum.
May 19: Integration with Open Ocean.
- The leading DEX Aggregator, offering the best swap rate across 23+ chains.
May 18: Partnership with Jarvis Network.
- Stable and liquid synthetic fiat currencies.
May 17: Partnership with Angle Protocol.
- A capital-efficient, decentralized, over-collateralized stablecoin protocol behind agEUR.
May 16: Partnership with Beefy Finance.
- A Multichain Yield Optimizer.
May 11: Integration with 1inch network.
- A multi-chain swap aggregator.
May 9: Partnership with QiDao Protocol.
- QiDao are the issuers of the MAI stablecoin, a multichain stable asset backed by users’ collateralized debt positions.
May 6: 5% royalty fee on veCHR NFTs trading on secondary markets introduced.
- 3% goes to stakers of chrNFT.
- 2% goes to the Chronos treasury (to be used for bribes and development)
May 3: Lock bonus goes live.
- All users locking CHR will automatically qualify for this bonus. This promotion will run until the 2,000,000 veCHR allocation is exhausted.
April 30: Partnership with GND Protocol.
- GND Farms built on Uniswap V3 Liquidity Engine.
April 28: Liquidity is seeded and trading goes live on the exchange.
April 27: Chronos goes live in 2 phases.
April 26: Partnership with Redacted Cartel.
- Redacted offers a suite of services that empower on-chain liquidity, governance, and cash flow for DeFi protocols.
April 26: Immunifi Bug Bounty program launches.
April 25: Partnership with Liquity Protocol.
- Interest-free borrowing built on ETH. Home to LUSD – the unstoppable Ethereum native stablecoin & LQTY.
April 24: Partnership with Plutus DAO.
- Plutus is an Arbitrum-native governance aggregator and specializing in liquid staking derivatives (LSDs) of the network’s top tokens.
April 23: Certik Audit finishes.
April 22: Partnership with Arken Finance.
- A DEX aggregator that features a number of professional-grade trading tools that can be accessed directly from the Arken UI.
April 21: Partnership with Y2k Finance.
- A prediction market for stable assets that makes it easy for users to hedge against potential depeg events.
April 20: Partnership with Root Protocol.
- Root Protocol is an Omnichain Governance and Liquidity Aggregation Layer, DeFi and LSD.
April 19: Partnership with Radiant Capital.
- Radiant aims to be a “one-stop shop” money market, where users can seamlessly deposit & borrow assets across multiple chains.
April 18: Partnership with ACryptoS.
- Advance crypto strategies platform.
- Top depositors into the ACS vaults by April 18th will also be eligible to receive a veCHR airdrop worth $200.
April 17: Partnership with Poison Finance.
- A lending and borrowing platform specializing in synthetic versions of real-world-assets.
April 15: Partnership with Tangible.
- Maintain purchasing power with the first stablecoin backed by tokenized, yield-generating real estate.
April 14: Partnership with Factor DAO.
- Factor DAO’s platform simplifies DeFi, making it possible for anyone to create innovative products, strategies, and portfolios that suit their needs
April 14: Initial distribution and airdrop details released.
- The initial supply of CHR is 50,000,000.
- At launch, there will be an initial circulating supply of 2.45M liquid CHR tokens (1 week of vesting from chrNFT minters).
- 9% of the initial supply — 4,500,000 CHR is allocated to chrNFT minters.
- 25% of the initial supply — 12,500,000 veCHR is allocated to partner protocol treasuries to help them kick-start the liquidity incentives flywheel.
- 21% of the initial supply — 10,500,000 veCHR is allocated to a variety of users around the Arbitrum and greater DeFi ecosystem, partner protocols, and Chronos itself.
- 38% will go to Chronos community members. These various initiatives aim to reward engaged community members and raise awareness of the Chronos launch event.
- 10% of the user airdrop will be reserved for future campaigns; some preliminary ideas have been recorded but are yet to be finalized.
April 13: A lock bonus program with Thena Finance is announced.
- The Native Liquidity Layer On BNB.
April 12: A partnership with Muon Network is announced
- Muon Network is a decentralized oracle service that powers the DiB referral system. Through DiBs, users can earn revenue from swap fees by referring users to Chronos.
- Fees are paid in whatever tokens are generated by the trade (you can earn every token that Chronos supports).
- More trading volume will bring in more fees and revenue for voters, which will create more incentives to lock CHR to keep the APR high for liquidity providers and help defend the price of CHR.
April 8: A lock bonus program in collaboration with Equilibre AMM is announced.
- An AMM and liquidity marketplace on the Kava EVM.
April 7: chrNFTs are listed on the Zonic marketplace.
April 7: A partnership with Deus DAO is announced.
- An infrastructure layer for peer-to-peer, on-chain derivatives using bilateral agreements.
April 6: The Time Weaver Campaign is launched.
- Running from April 5, 2023 until the formal launch of Chronos
- Conducted solely through Chronos Discord
- 100 users to receive airdrops through a special discord role “Time Weaver”
- The campaign features meme contests, twitter thread writing, quizzes, games and active community participation.
April 6: A partnership with Impossible Finance is announced.
- A launchpad, incubator, and decentralized services provider.
April 4: A partnership with Inverse Finance is announced.
- A decentralized autonomous organization that develops and manages a suite of permissionless and decentralized financial products using blockchain smart contract technology.
April 4: A lock bonus program in collaboration with Equalizer Exchange is announced.
- Equalizer is a DEX that uses a vote escrowed model to drive Liquidity to the highest volume pairs.
- Users who max duration lock 50+ EQUAL between April 3, 2023, and April 14, 2023, will be eligible for an airdrop of 410,714 veCHR in proportion to their amount locked.
April 1: A partnership with Frax Finance is announced.
- The Frax Protocol issues innovative, decentralized stablecoins and contains subprotocols to support them.
March 31: A partnership with GMD Protocol is announced.
- A yield aggregator and optimizer on the Arbitrum network.
March 31: chrNFT is removed from OpenSea for unknown reasons. The team proceeds to list it on the WenMoon and TofuNFT.
March 30: chrNFT is listed on OpenSea.
March 30: The whitelisted and public sale for chrNFT completes with all remaining NFTs minted, raising a total of $2.8 million.
- In total, 5555/5555 chrNFTs are minted with 1,901 individual addresses.
- Total airdrop per mint:
- 405 CHR (vested for 8 weeks) + 405 veCHR (locked for 2 years)
- A second airdrop to chrNFT holders at time of launch is announced, a share of a 1,725,000 veCHR prize pool or 310 veCHR per chrNFT.
March 28: The private sale for chrNFT completes with all 1666 NFTs minted.
March 28: A medium article is released detailing sticky liquidity and Chrono’s maturity based LP system.
- Stickier Liquidity: Maturity-adjusted LPs create stickier liquidity by rewarding users who keep their funds on the platform for a longer period of time.
- Time Value Component: By introducing a time value component to LP positions, maturity-adjusted LPs create an incentive for liquidity providers to stay committed to the platform.
- Protocol Benefits: Protocols benefit from persistent, predictable liquidity as maturity-adjusted LPs make capital less likely to shift between pools each epoch.
- Secondary Market Opportunities: The introduction of maNFTs and the possibility of trading them on secondary marketplaces create new opportunities for liquidity providers to capitalize on their mature positions.
- Aligning Long-Term Interests: Maturity-adjusted LPs address the fundamental flaw in the current ve(3,3) model, which failed to align liquidity providers with the long-term success of the protocol.
March 27: A partnership with Granary Finance is announced.
- A multichain money market and lending protocol.
March 24: A partnership with Liquid Driver is announced.
- A multichain yield aggregation service that takes the guesswork out of DeFi. They seek out the best yields across many different chains and deliver it directly to their users.
March 22: A partnership with Impermax Finance is announced.
- A permissionless, cross-chain lending protocol where users can lend & borrow digital assets in isolated lending pools.
March 22: The GitBook technical documentation for Chronos goes live.
March 20: A medium article is released detailing the release of chrNFT, Chronos’ NFT collection.
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- The collection comprises 5,555 individual pieces, each offering holders access to stable, real-yield revenue streams.
- Sale proceeds from these chrNFTs will provide initial liquidity for CHR upon its launch on the Chronos platform.
- Perks to users includes:
- Staked NFTs earn up to 20% of all swap fees on Chronos.
- The original minter earns 2% in royalties from secondary sales forever.
- 1% of all secondary sales goes to the chrNFT staking pool.
- Guaranteed to be included in the fair launch CHR airdrop.
- Exclusive role and benefits in the Chronos Discord server.
- Minting details includes:
- Phase 1 — Private Mint:
- Cost per NFT — 0.3 ETH.
- 1/3 of the chrNFTs (1,666 pieces) are reserved for a private sale to strategic partners, investors, and early community contributors.
- Phase 2— Whitelist Mint:
- Cost per NFT — 0.325 ETH.
- The remaining chrNFTs will be available during a “whitelist” round for community members committed to Chronos’s success.
- Phase 3— Public Mint:
- Cost per NFT — 0.35 ETH
- Unsold NFTs after the first two rounds will be available to the public on a first-come, first-served basis. If the chrNFTs are sold out during the whitelisted sale, there will be no public sale.
- Fair-Launch Airdrop: Decentralizing Ownership
- 54% of the initial supply will be airdropped
March 17: A partnership with Firebird Finance is announced.
- Across-chain DEX aggregator that automatically seeks out the best rates every time a swap is made.
March 16: A partnership with Dyson Money is announced.
- A decentralized & multichain yield-maximiser. It maximizes yield through carefully crafted strategies which are managed on-chain, making perpetual yield farming accessible to the average user.
March 16: The landing page of the website launches.
March 15: A partnership with Overnight Finance is announced.
- An asset management protocol offering passive yield products based on delta-neutral strategies, primarily for conservative stablecoin investors.
March 12: A partnership with Yieldfarming Index is announced.
- A DeFi hedge fund built on the Arbitrum ecosystem that uses sustainable, delta-neutral strategies to provide real yield for holders and stakers.
March 12: The discord server is opened to the public.
