Cronos (CRO) Labs launches yield rewards for vETH and vUSD on the zkEVM network

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

Understanding Cronos zkEVM

The Cronos zkEVM network is a next-generation zero-knowledge Layer 2 solution focused on scalability, security and innovation. It natively supports yield-generating cryptocurrencies such as vETH and vUSD, powered by Veno Finance. These tokens can be used across the Cronos zkEVM ecosystem and provide additional earning opportunities through the Cronos zkEVM Pioneer program.

Earn rewards

Rewards from vETH and vUSD tokens are credited daily. Token holders must claim their rewards regularly, for example monthly. When the tokens are deposited in a decentralized application (Dapp) on the Cronos zkEVM network, the Dapp can distribute the rewards in different proportions to its users and/or token holders.

Track and claim rewards

All rewards can be monitored on the Cronos zkEVM Rewards page. Pending rewards accumulate daily and can be claimed after a few days. The rewards page allows users to track both immediately claimable and pending rewards.

To earn rewards, users should navigate to the Earned Earnings section on the rewards page. Rewards become claimable after Cronos zkEVM completes at least five batches of transactions on the Ethereum network, which typically takes four to seven days depending on network traffic.

zkCRO rewards

Holders of zkCRO tokens do not need to claim their rewards separately. The rewards generated by zkCRO are directly reflected in the zkCRO/CRO exchange rate, which changes over time to reflect both the value of the initial CRO staked and the accumulated rewards.

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