Cronos (CRO) Labs Launches Yield Rewards for vETH and vUSD on zkEVM Network

Cronos (CRO) Labs has activated yield rewards for vETH and vUSD tokens on its zkEVM network, according to Cronos Labs. Token holders can now claim their

Cronos (CRO) Labs has officially launched yield rewards for its vETH and vUSD tokens on the Cronos zkEVM network. Token holders can now claim their accrued rewards through the designated rewards page.

Announced by Cronos Labs on Monday, the Cronos zkEVM network, a next-generation zero-knowledge Layer 2 solution, is designed to enhance scalability, security and innovation within the Cronos ecosystem.

The network boasts native support for yield-generating cryptocurrencies like vETH and vUSD, powered by Veno Finance. These tokens can be seamlessly utilized across the Cronos zkEVM ecosystem, presenting additional earning avenues through the Cronos zkEVM Pioneer Program.

Rewards from vETH and vUSD tokens are accrued on a daily basis. It's important to note that token holders must claim their rewards periodically, such as on a monthly basis. If the tokens are deposited into a decentralized application (dapp) on the Cronos zkEVM network, the dapp may distribute the rewards to its users and/or token holders in varying proportions.

All rewards can be monitored on the Cronos zkEVm Rewards page. Pending rewards are accrued daily and become claimable after a few days. Both immediately claimable and pending rewards can be tracked on the rewards page.

To claim rewards, users should head over to the “Yield you earned” section on the rewards page. Rewards become claimable after Cronos zkEVM finalizes at least five transaction batches on the Ethereum network, usually taking four to seven days depending on the network traffic.

It's worth mentioning that holders of zkCRO tokens don't need to claim their rewards separately. The rewards generated by zkCRO are directly reflected in the zkCRO/CRO exchange rate, which adjusts over time to account for both the value of the originally staked CRO and the accrued rewards.

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