Time for a New Era: Chronos Launch Details

8 min readApr 19, 2023

Launch: 15:00 UTC, April 27th

Chronians, the moment we have all been waiting for is finally upon us!

With the launch of Chronos, we embark on an exciting journey to reshape the DeFi landscape, leveraging our cutting-edge liquidity layer to play a pivotal role in the growth and success of the Arbitrum ecosystem.

The official launch of Chronos is now set; please be sure to follow all announcements and review this article to optimize your experience from the very first epoch. To get involved, be sure to claim your airdrop, connect your wallet, and start voting, trading, and earning on Chronos.

Together, we will make this launch a success and build a strong foundation for the future of Chronos.

Timeline:

Reference this handy timeline chart as you review all the detailed information in the rest of this article.

The official addresses for Chronos tokens and NFTs are listed below:

$CHR: 0x15b2fb8f08E4Ac1Ce019EADAe02eE92AeDF06851
veCHR: 0x9A01857f33aa382b1d5bb96C3180347862432B0d
chrNFT: 0x55d26d7e20bfb42948a05d6d9a69af8fd5400fa0

For a full list of contracts, please visit our GitBook Documents.

Epoch 0: Countdown — April 27

Epoch 0 marks the official launch of Chronos! Several key activities during this epoch will set up the platform for success.

The clock is ticking, and we’re counting down to the Chronos flywheel blast-off!

Exchange Website Launch: April 27th, 15:00 UTC

Our dApp for the exchange will be revealed, complete with a user interface for airdrop claims, swaps, liquidity, locking, voting, chrNFT, referrals, and more!

The website will be available at: https://chronos.exchange/

veCHR Airdrop Claim: April 27th, 15:00 UTC

At this time, all users eligible for veCHR user airdrops as detailed in the “Chronos Initial Distribution and Airdrop Details” will be able to claim through the Chronos website.

The snapshot for “chrNFT holders” and “Arbitrum Liquidity Providers” airdrop will be taken on April 26th, 22:00PM UTC.

Please ensure you are holding your chrNFT before this time in your desired wallet to be eligible for this airdrop.

The airdrop details for Arbitrum Liquidity providers will be announced on April 25, so stay tuned to our announcement platforms for details on how to qualify.

This airdrop is for the veCHR portion only for the purposes of voting on Epoch 0. Liquid CHR airdrop to chrNFT minters (405 CHR vested for 8 weeks) will be claimable on Epoch 1.

chrNFT minters will have the option to claim their airdrop in 100% veCHR up-front on Epoch 0 through the user interface instead of receiving the 405 CHR vested for 8 weeks.

chrNFT Staking: April 27th, 15:00 UTC

Through the website UI, users will be able to stake their chrNFTs right away.

Although fees and royalties are still accumulated, the first chrNFT revenue distributions / claiming start on Epoch 1.

$CHR Token Liquidity Seeded: April 27th, 17:00 UTC

At this time, Chronos will seed these core pools:

CHR/ETH
CHR/USDC

2,000,000 CHR tokens allocated for initial liquidity will be seeded between these two pools, along with $700,000 for a starting price of $0.35 / CHR.

Please stay tuned to future announcements on our token launch.

Important note: It is not safe to buy $CHR or provide liquidity before we’ve seeded the pools. Do not interact with any contracts or tokens other than those included in official announcements.

Liquidity Pools Open: April 27th, 17:00 UTC

Along with the CHR token liquidity seeding, all other pools are open for anyone seeding liquidity.

Note that there are NO CHR emissions on Epoch 0.

Liquidity pools are open on Epoch 0 for protocols to seed liquidity (including Chronos), load bribes, and prepare for emissions starting on Epoch 1.

In addition to the CHR and partner pools, Chronos will be hosting the following “Core Pools”:

ARB/ETH
ETH/USDC
USDC/USDT
wBTC/ETH

These pools are vital for the exchange to bring in blue-chip TVL and volume and support swap routing through our pool. We highly recommend our users looking to support Chronos direct emissions to these pools in the first few Epochs by voting for these gauges to get the flywheel spinning.

We recommend users wait until emissions start on Epoch 1 to place liquidity. However, users wishing to get ahead of the maturity curve may deposit liquidity in advance. If you are not already familiar with this mechanic — Chronos LP positions gain increased emissions based on the amount of time they’ve been staked. Read this article for more information.

Bribing Starts: April 27th, 17:00 UTC

Along with protocol-owned liquidity, projects can start to load their bribes into gauges at this time for emissions voting by veCHR holders.

The bribes in Epoch 0 will incentivize veCHR voters to vote on the gauges, which will determine the rate of CHR emissions pools will receive during Epoch 1.

veCHR Locking: April 27th, 17:00 UTC

Users will be able to lock liquid CHR (purchased from the seeded liquidity pools) into a veCHR NFT to vote on gauges right from Epoch 0.

Users locking NEW CHR for 2-years (max duration) in the first Epochs will receive an additional 30% lock-bonus from the 2,000,000 CHR allocation.

A Dune dashboard will be created for this promotion shortly after launch (we have to wait for Dune to index our contracts), but all qualifying locks

This can be done directly from the Chronos dApp user interface.

Gauge Voting: April 27th, 17:00 UTC

Users with veCHR either through the airdrop claim or from locking liquid CHR will be able to start voting for gauges right away on Epoch 0.

However, it is recommended that users wait until the end of the Epoch (May 4th) to vote as bribes will be deposited throughout the week, and it might be optimal to wait before deciding what pool to vote on.

We highly recommend our users looking to support Chronos direct emissions to the “Core Pools” (ARB/ETH/USDC/USDT) in the first few Epochs by voting for these gauges.

Users will be able to switch their votes at any point during the week except for 6 hours before the epoch ending (Thursday 00:00PM UTC weekly). Users who have not already voted throughout the week will be able to cast votes in the last 6 hours. This is done to eliminate vote-jumping manipulation.

Epoch 1: Liftoff — May 4

Epoch 1 marks the liftoff of Chronos Exchange as CHR emissions begin to liquidity pools, and the virtuous flywheel begins! In addition to emissions, veCHR voters will begin to collect their first rewards.

Similar to Epoch 0, protocols will be able to bribe to incentivize their liquidity pools for the following weeks, and veCHR voters will be able to vote for those gauges.

CHR Airdrop to chrNFT Minters: 00:00 UTC May 4

chrNFT minters are eligible for a 405 CHR airdrop starting at this time on Epoch 1.

This airdrop is vested linearly for 8 weeks starting on this date and is claimable at any time.

For minters who have opted to receive their full CHR amount in veCHR up-front (see epoch 0), they will not be able to claim the liquid 405 CHR airdrop portion.

CHR Emissions Begin: 00:00 UTC May 4

Depending on how veCHR users voted for gauges in Epoch 0, CHR emissions will begin to liquidity providers in the respective pools.

The more votes a pool gets, the more CHR emissions they will receive. This happens each Epoch and is dependent on the votes from the previous Epoch.

Liquidity providers will be able to claim their CHR emissions starting at this time.

Voter Fees and Bribes Claimable: 00:00 UTC May 4

veCHR voters will be able to claim their first voting rewards starting on Epoch 1. Depending on what pools they voted for in Epoch 0, they will receive corresponding bribes or fee rewards claimable in the website interface.

chrNFT Revenues Claimable: 00:00 UTC May 4

With the start of Epoch 1, the rewards will start to accrue to all staked chrNFTs and will be available for claiming at any time.

chrNFT minters will also be able to claim their royalties share starting from this day.

Epoch 2: Orbit— May 11

With a successful launch behind us, Epoch 2 symbolizes Chronos exchange achieving orbit. Having gone through its first full-cycle operation, the flywheel has proven itself. It will continue to capture more and more liquidity and continue to generate revenue for Chronos stakeholders.

All actions from this Epoch on will be similar, with protocols bribing throughout the week, veCHR users voting on gauges, claiming their previous Epoch rewards, and directing emissions to liquidity providers.

A New Era Begins

As we approach the launch of Chronos, we stand on the brink of a new era in the Arbitrum ecosystem.

Our core mission is to empower all ecosystem players to thrive and grow by offering an open liquidity layer that any protocol can access. By doing so, we solve the long-standing liquidity challenge and allow new projects to harness the robust infrastructure and security that Arbitrum provides.

Ultimately, Chronos’s function as an open liquidity layer and facilitator of economic activity is crucial. We believe it will significantly contribute to the growth and success of the Arbitrum ecosystem for years to come.

So let’s keep the momentum rolling and make history, one Epoch at a time.

Stay up-to-date with Chronos by following our official Twitter and Discord for important launch announcements. Details are subject to change, so ensure you have the most current information.