Cronos Labs Unveils Yield Rewards for vETH and vUSD on zkEVM

Cronos (CRO) Labs has revealed the activation of yield rewards for its vETH and vUSD yield-bearing tokens on the Cronos zkEVM network, according to Cronos Labs. Token holders can now retrieve their accumulated rewards via the specified rewards page.

Understanding Cronos zkEVM

The Cronos zkEVM network represents a next-generation zero-knowledge Layer 2 solution that prioritizes scalability, security, and advancement. It natively supports yield-generating cryptocurrencies like vETH and vUSD, driven by Veno Finance. These tokens can be leveraged throughout the Cronos zkEVM ecosystem, presenting further earning potentials through the Cronos zkEVM Pioneer Program.

Earning Rewards

Rewards from vETH and vUSD tokens accrue on a daily basis. Token holders are required to claim their rewards at regular intervals, such as monthly. When the tokens are deposited into a decentralized application (dapp) on the Cronos zkEVM network, the dapp may allocate the rewards to its users and/or token holders in different ratios.

Tracking and Claiming Rewards

All rewards can be tracked on the Cronos zkEVM Rewards page. Pending rewards accumulate daily and become available for claim after a few days. Users can monitor both immediately claimable and pending rewards on the rewards page.

To redeem rewards, users should go to the “Yield you earned” section on the rewards page. Rewards are claimable after the Cronos zkEVM processes at least five transaction batches on the Ethereum network, which generally takes four to seven days depending on network activity.

zkCRO Rewards

Holders of zkCRO tokens do not need to claim their rewards individually. The rewards accrued by zkCRO are reflected directly in the zkCRO/CRO exchange rate, which fluctuates over time to factor in both the value of the initially staked CRO as well as the accumulated rewards.

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