Cryptocurrency

Kroma Announces Spectrum’s Launch Alongside Expansion Plans

Kroma has unveiled the highly anticipated launch of Spectrum, an advanced, native, staking service that aims to revolutionize the Ethereum Layer-2 landscape. Spectrum will commence operations on the 14th of May, 2024, and is designed to provide users with an opportunity to leverage the potential of staking ETH, stETH, and eETH. By doing so, Spectrum empowers users to earn more within the decentralized finance (DeFi) sector.

Revolutionizing DeFi

The launch marks a significant milestone in the overall advancement of DeFi, as it introduces spETH, which is a proprietary risk taking token meant for synthetic assets. When users utilize spETH, they gain the ability to maximize the liquidity for their respective staked Ethereum assets, while simultaneously being given access to a wide range of trading opportunities as well as additional earning chances across the extensive DeFi protocols and applications within the platform.

Spectrum has already garnered widespread acclaim after successfully onboarding renowned decentralized applications (dApps) like Standard Protocol, Light Bank, Layer Bank, Shoebill, Zapanki Swap, Wellxy, PrixmSwap, and iZUMi Finance. This integration is vital because it sets the stage for further expansion down the line as Spectrum looks to continue its innovative efforts towards integrating additional dApps going forward.

How Is Spectrum Any Different?

In terms of how Spectrum sets itself apart from various traditional staking platforms, it has introduced the innovative ‘Hexa Reward’ aspect, which provides a total of six rewards that also includes Ethereum APR, restaking rewards, EigenLayer Points for staking Ethereum assets, Etherfi loyalty points, KSP (Kroma Spectrum Point), and wemix.e airdrop. Kroma will airdrop 40,000 wemix.e based on accumulated KSP to users, providing a new type of re-staking reward. This benefit further underscores why Kroma is attracting significant attention from both the industry and users.

Spectrum’s unique infrastructure has already drawn a lot of attention as the platform looks to position itself as a frontrunner in DeFi. Furthermore, Spectrum ecosystem participants are also rewarded with the KSP, otherwise known as Kroma Spectrum Points. These are attainable by holding spETH or by engaging in spETH-integrated device services and games on Kroma. KSP will also eventually be exchangeable for KRO tokens once they are released.

Lastly, in order to commemorate the launch, Spectrum has announced that it will host a special two week early access event which will double KSP points in order to enhance rewards for stakers on the platform. Meanwhile, Kroma remains steadfast in its dedication to working alongside other high-quality projects in order to further expand Spectrum’s growing ecosystem.

 

About Spectrum

Spectrum is Kroma’s native staking solution that allows for high payouts through restaking while leveraging staking tokens in a wide range of games and DeFi ecosystems on Kroma. By operating on the Layer-2 blockchain platform, Kroma is able to address the well-known scalability challenges associated with Ethereum while simultaneously ensuring reliable security as well as decentralization standards. Initially adopting an Optimistic Rollup with zkEVM, Kroma shall ultimately transition to a full ZK Rollup model.

For more information about Spectrum and Kroma, visit the official website alongside the Medium, Discord, and X channels for regular updates. There is also a Referral Program for those who are interested.

The post Kroma Announces Spectrum’s Launch Alongside Expansion Plans appeared first on Blockonomi.

Related posts
Cryptocurrency

Aleph Zero Launches Alephoria: Exciting Airdrops, Tournaments, and Rewards Await Users

Zug, Switzerland, May 17th, 2024, Chainwire Alephoria invites web3 users to the Aleph Zero…
Read more
Cryptocurrency

Top 5 Cryptos Poised to Lead the Coming Bullish Rally

As the crypto market heats up, investors are eagerly scanning for coins that could lead the charge.
Read more
Cryptocurrency

Which Staking Token Has The Bigger Appeal: Binance Coin (BNB), ETFSwap (ETFS), Or Polkadot (DOT)?

The emergence of staking tokens has not gone unnoticed in the crypto space. Their unique utility and…
Read more
Newsletter
Become a Trendsetter

Sign up for TheTechly’s Daily Digest and get the latest and trending technology updates.

[mc4wp_form id="729"]