After the collapse of FTX, investors’ confidence in centralized exchanges waned and they turned to decentralized exchanges (DEX).
As DEXs continue to grow in popularity Arbitrum (ARB) based DEX Chronos introduced staking services.
According to the news of Coindesk, Chronos, which introduced staking services, received an investment of 170 million dollars in a single day.
Chronos is an exchange that launched on April 27. Ethereum Made famous by the Olympus DAO based Olympus.
Some liquidity pools on Chronos can be used to vote on protocol changes. chr (CHR) It pays up to 2,300% to liquidity providers (LPs) through its tokens.
After the news of the $170 million investment, the price of Chonos’ native token chr (CHR) also increased by 30% within 24 hours.
With a market capitalization of over $84 million CHR At the time of writing, it is trading at $1.15.
*Not investment advice.
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