Kronos DAO – 1st Decentralized Reserve Currency on the Klaytn Chain

What is Kronos DAO?

Kronos DAO is the first decentralized reserve currency protocol available on the Klaytn chain based on the KRNO token.

Kronos DAO serves as a replacement for stablecoins by providing investors and users with a backed but stable currency that can rise in value while minimizing losses. Since launching on November 18th, the price of the KRNO token has soared more than 360-fold.

In addition, just two days after its launch, KRNO partnered with Kokoa Finance, the First Yield-generating Stablecoin on the Klaytn Network.

Why does Kronos DAO draw such attention?

The first (4,4) LP minting:

Kronos DAO operates using two key concepts: Staking and Minting. Staking is depositing your money in a staking contract (like a pool) and earning automatically compounded interest. Minting directly buys the native token KRNO from the protocol in exchange for discounted KRNO.

Now here’s something interesting about Kronos DAO. (4,4) LP minting makes Kronos DAO stand out from other Ohm forks. All forks of OHM, including OHM itself, use staking and minting separately. However, Kronos DAO has changed its ways by combining staking and LP minting.

In other words, (4,4) mint rewards are paid in sKRNO instead of KRNO. Therefore, minting rewards are automatically compounded as they are vested, so investors don’t need to stake the rewards after claiming them. Not to mention that (4,4) minting has only a 4-day vesting period, instead of a 5-day vesting period.

Higher APY and Low Gas Fees- offering more than 20 million % of APY:

As Kronos DAO is still in its incubation stage, it offers over 20,000,000% APY. This rate is higher than Olympus DAO, which offers 4,298% as of December 17th, 2021.

Kronos DAO’s gas fees are significantly lower than Olympus DAO’s, which is known for its notorious gas fees. Kronos DAO is built on the Klaytn network and the key strength of Klaytn is that the system is designed for handling large numbers of transactions for a low fee.

The gas price is approximately 0.000000025 Klay or 0.0000004 THB, when compared with other blockchains it is comparatively inexpensive.

KYC Approved by Assure:

KYC or Know-Your-Customer is a vital process for a transparent community. KYC is a process that follows a set of standards to verify customers, risk profiles, and financial profiles.

Kronos DAO received KYC approval from Assure. We believe this is a step in the right direction for a safer and secure environment.

Partnership with Ozys, the maker of KLAY Swap and Orbit Chain

By partnering with Ozys, we have integrated Kronos in Orbit Bridge and KLAYswap. Through this collaboration, the Kronos DAO team seeks aggressive ecosystem expansion.

The Decentralization for Sustainable Community Growth

Kronos DAO aims to realize its vision; the Decentralization for Sustainable Community Growth. To do so, Kronos DAO will focus on three major missions.

Building a sustainable Defi infrastructure that rewards market participants.

Building a constructive and decentralized community that continuously innovates the ecosystem.

Building a cross-chain alliance with other protocols that share the same vision, attracting more members to the community.

Join the community

To find out more information about Kronos DAO, join the community and contribute through the channels below.

OFFICIAL LINKS

Official Website: https://kronosdao.finance/

Official App: http://app.kronosdao.finance/#/

Official Stake: http://app.kronosdao.finance/#/stake

Official Mint: http://app.kronosdao.finance/#/mints

Official Telegram Global: https://t.me/kronosdao_eng

Official Docs: https://docs.kronosdao.finance/

Official Discord: https://discord.gg/kronosdao