Chronos, an Arbitrum-based decentralized exchange (DEX), saw a major influx of funds recently when it introduced its concept of staking, a way of accruing value from digital assets without needing to sell them. What is so special about this suggestion? According to some liquidity pools on Chronos, providers can earn up to 2,300% in the form of chr (CHR) tokens, allowing them to vote on protocol changes.

The recent surge in funds can be attributed to the rarity of such yields in the crypto market. The CHR tokens trade at around $1.3, boasting a market capitalization of over $90 million. The innovative concept of Chronos was largely made famous by Ethereum-based Olympus DAO, one of the most popular projects during the last bull run.

Liquidity providers, or LPs, are the entities that provide two different tokens to a decentralized exchange’s smart contracts, which in return they receive a fraction of the fees generated by the exchange from each trade. Holding and restaking these tokens allow users to earn additional returns, maintain voting power, and ensure a liquid marketplace for other projects to borrow capital from.

If you are looking for an attractive yield for your crypto assets without having to part with them, it might be something to consider. But, before you to make any decisions based on the information herein, make sure you've conducted sound research and gotten the appropriate advice from professionals.



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