Phase I — BiShares to Launch Gaur Token on Cronos
BiShares Finance is incredibly proud to announce an amazing new opportunity to expand to one of the hottest chains around, the Cronos Chain, a Cosmos SDK-based EVM compatible chain. Our $BISON token will soon be available through the platform. Users of the Cronos Chain will have the chance to access all the latest information from the team here at BiShares. Through the platform, users will also be able to easily view $BISON pricing and volume information.
BiShares first launch on Cronos will be this week. This will be the launch of the Gaur token. This is the first standalone product built by the BiShares team that will support the $BISON ecosystem as we add in new technologies.
Gaur is the first iteration of the Cronos expansion to increase liquidity as we roll out phase II. The next phase will be the epicenter of the BISON liquidity and will revolve around an OHM-like mechanism (aka DeFi 2.0). BiShares main product rollout is an aggregated stable coin farming solution, coupled with a customized OHM fork type token, that will generate a super stable coin with TVL growth through compounding of the underlying farm yields. With YBFs (Yield Bearing Funds) already in existence on both the BSC and FTM chains, BiShares co-Founders saw an incredible opportunity in this new Cronos chain. BiShares will offer the Cronos community transactions through innovative convenience, as its product to be launched will be an even more aggressive OHM-type fund, but with real stable backing via its distributed average yield YBFs.
This will be a protocol owned liquidity (POL) launch.
- The genesis farm, distributing Gaur token will use single BISON staking
- The DAO fund allocation will be used initially to build a strong liquidity position for BISON on Cronos and later for rewards to BISON holders
So what is the Cronos Chain anyways? Cronos is an EVM-based chain operated by crypto.com. The mainnet beta was introduced on November 8, 2021. This EVM compatible chain runs parallel to the Crypto.org Chain. According to its documents, the chain’s goal is “to massively scale the Chain DeFi ecosystem, by providing developers with the ability to rapidly port apps from Ethereum and EVM-compatible chains, with funding from Particle B’s $100m EVM fund and access to the 10M+ user base of the crypto.com ecosystem.”
It has several major features that make it a key player for BiShares partnerships. First off, Cronos Chain is EVM compatible as Ethermint can support any smart contracts, DAOs or Dapps created on Ethereum. It is also scalable, with the platform offering the capability of processing far more transactions per minute than EVM. In turn, it also offers lower fees for creating smart contracts, as well as less negative impact on the environment. The chain is interoperable, allowing different blockchains to talk to one another. According to the platform itself, blockchains are able to “interoperate and transfer value, interchange assets and services, and connect without running into the scaling issues inherent in some of the largest blockchains today.” With easy deployment as well as a massive ecosystem of over ten million users, the Cronos Chain has a lot to offer to the BiShares community and crypto work in general.
Why is BiShares expanding to Cronos?
Moving to this incredible chain was a no brainer for the herd. Anyone who knows the success of crypto.com can see the successful future that lies ahead when it comes to Cronos. As one of the most promising new chains available, BiShares sees great value in having the first mover advantage. With one of the biggest user bases around, we’re destined for great yield opportunities. On top of all that, Cronos offers a simple gateway to allow users access to their earned yield through the groundbreaking crypto.com card.