Crescent Network Overview
Crescent is to provide a connected DeFi functionality for Cosmos Ecosystem to enhance capital efficiency and manage risk effectively.
It focuses on the three main functionalities
- Crescent DEX
- Crescent Boost
- Crescent Derivatives
Crescent Network will commit to, and evolve toward the embodiment of the following objectives:
- Providing a marketplace for multi-chain assets with capital-efficient liquidity incentivization
- Securing a cross-chain collateralization protocol for users to effectively manage risks of their portfolio
Project Development
A few years ago, a team of Cosmos network veterans known as B-Harvest collaborated with the Ignite team (formerly Tendermint) for a vision to create a DeFi experience on Cosmos Hub like no other. The B-Harvest team developed a working liquidity module known as Gravity DEX, while Ignite created the front-end and web UI, Emeris. The two teams worked in harmony to bring cross-chain DeFi to life.
The B-Harvest team sets on a quest to fully rebuild and expand on Gravity DEX, pursuing various DeFi utilities by breaking the boundaries set by Cosmos Hub. Led by the B-Harvest team in collaboration with Ignite, alongside investment by Ignite Ventures (formerly Tendermint Ventures), Crescent was developed.
Crescent Team
The current Crescent team is comprised of the original B-Harvest team, with the addition of industry experts to enhance operation and development capabilities for Crescent further. The inter-blockchain experts of Crescent worked closely with the Ignite team to bring forth a new innovation in seamless, connected decentralized finance on the Crescent DeFi Hub.
$CRE
The CRE token is the governance token for all Crescent directions, in place to ensure the decentralized operation and evolution of the Crescent Hub.
CRE token takes on the following functions, which are also open for changes according to governance in the future:
- Voting on governance
- Staking rewards
- Ecosystem Incentives
Decentralized finance is at the core of Crescent, and equal and impartial governance through CRE token will ensure the participation of the community and negate the imbalance of power to allow Crescent Hub’s constant evolution in a positive direction for all.
About Crescent
Through a rebirth as a DeFi Hub, Crescent will dramatically expand utility and connectivity in blockchain by allowing users to bring investments from other blockchains to Crescent through IBC for increased investing opportunities.
A shut-down of Gravity DEX will be proposed in the transition process, seamlessly channeled into Crescent, where users can enjoy a totally new connected economy. Emeris will continue to be operated as a Cosmos multi-chain web-interface project under Ignite
To learn more about the Crescent project visit their official website.
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