Rebecca Moen
October 2, 2024 18:33
Cronos (CRO) Labs has enabled yield rewards for vETH and vUSD tokens on the zkEVM network, allowing users to claim accumulated rewards on a regular basis.
According to Cronos Labs, Cronos (CRO) Labs has announced the activation of yield rewards for vETH and vUSD yield holding tokens on the Cronos zkEVM network. Token holders can now claim their accumulated rewards through the designated rewards page.
Understanding Cronos zkEVM
Cronos zkEVM Network is a next-generation zero-knowledge layer 2 solution focused on scalability, security, and innovation. Supports natively monetized cryptocurrencies such as vETH and vUSD powered by Veno Finance. These tokens can be leveraged across the Cronos zkEVM ecosystem and provide additional revenue opportunities through the Cronos zkEVM Pioneering Program.
Earn Rewards
Rewards for vETH and vUSD tokens accrue daily. Token holders must claim rewards on a regular basis, such as monthly. Once tokens are deposited into a decentralized application (dapp) on the Cronos zkEVM network, the dapp can distribute rewards to users and/or token holders in various proportions.
Compensation tracking and claims
All rewards can be monitored on the Cronos zkEVM Rewards page. Pending rewards accrue daily and can be claimed after a few days. Users can track both immediately claimable and pending rewards on the Rewards page.
To claim a reward, users must go to the “Earnings Earned” section of the rewards page. You can claim your rewards after Cronos zkEVM completes a batch of at least 5 transactions on the Ethereum network, which typically takes 4-7 days based on network traffic.
zkCRO Rewards
zkCRO token holders do not need to claim compensation separately. Rewards generated by zkCRO are directly reflected in the zkCRO/CRO exchange rate, which changes over time taking into account both the value of the original staked CRO and the accumulated rewards.
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