Cronos launches $100M-backed accelerator program to support DeFi, Web3 & Metaverse

abdelaziz Fathi

Cronos is launching an accelerator program for early-stage companies that are looking for funding, mentorship, growth, amongst other support factors to kick start initial traction with Cronos chain.

The Cronos Accelerator Program aims to convert promising ideas into minimum viable products through an intensive 10-week course. Backed by’s powerful ecosystem, the initiative will prioritize candidates working across DeFi, Web3 gaming & metaverse, and infrastructure & tooling. 

Startups can apply for up to $300,000 seed investment delivered from Cronos Labs on an equity basis or as a financial investment. On acceptance into the program, successful candidates will get additional grant funding for security audits, node services and gas fees. They will also have access to partnership and investment opportunities from established VC partners.

Apart from the benefits mentioned above, the program will also provide promising applicants with additional support covering market strategies, token economics, fundraising, and other financial strategies.

The Cronos Accelerator Program has secured backing from prominent investment partners like Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz and Dorahacks. With $100 million allocated from the CRO ecosystem fund, it’s yet another sign that VCs are trying to connect with promising startups earlier than ever as competition for the best deals heats up.

Taking that a step further, Cronos will create a wide-ranging, personalized training curriculum through dozens of available sessions delivered by Cronos Labs and external subject matter experts. Cronos is also hosting weekly workshops and fireside chats with industry leaders, as well as one-on-one consultations with teams.

Speaking about the program, Ken Timsit – Managing Director at Cronos Labs – said: “Through Cronos Accelerator, we want to enhance the potential of projects that sincerely want to help grow the ecosystem by providing support in almost every area of their operations. In the current climate, it is more important than ever to put our heads down and start building aggressively. We are a top 10 blockchain via Total Value Locked at the moment, and are on track to reach the top 5 by the end of 2022.”

Nearly 40 startups to benefit from accelerator program

Cronos VP Ella Qiang added: “After speaking with many projects in the industry, we realised that while many have high potential, they may not have all the tools they need to stand out and build sustainable tokenomics. We want to provide the necessary support for early stage projects and accelerate their growth on Cronos.”

During the 10 weeks, Cronos Labs and mentors will help founders polish their business and product strategies. They will also provide assistance around Cronos technical integration, market insights, community building, tokenomics design, smart contract security best practices, and fundraising tips. 

Overall, there will be 3–4 cohorts per year, featuring an average of 10 start-ups per cohort.

Cronos functions as the smart contract-enabled chain that allows multiple blockchains to scale and interoperate with each other in a decentralized way. Its sister chain is focused primarily on the transaction and staking activity of the prominent exchange. 

Cronos, which aims to be a destination chain for DeFi and Gamefi, acts as’s ntaive solution to provide DApp to its 10 million users and beyond, substantially growing the ecosystem. 

Read this next

Digital Assets

GK8 now allows clients to control their digital assets as they would their fiat

“As the institutional market is increasingly turning to self custody, our policy engine empowers them to automate transactions, approvals, and even crucial workflows, while providing the highest degree of security, consistency, governance and control.”

Digital Assets

Retail CBDCs in the UK: “Welcomed” by CryptoUK and R3, but “Dystopian” for ETC Group

“At this stage, we judge it likely that the digital pound will be needed in the future. It is too early to decide whether to introduce the digital pound, but we are convinced preparatory work is justified”, said the BoE and HM Treasury.

Institutional FX

Centroid taps Iress API to provide retail brokers with real-time market data

“It has always been a challenge to have an efficient, elegant solution for market data and order execution for retail brokers, but with Iress we have found absolutely the right partner to add to our client offering.”

Digital Assets

Ramp launches FCA-approved off-ramp product, onboards Brave, Trust Wallet, Ledger

“To obtain and maintain our FCA registration, we must meet and operate within their strict anti-money laundering and counter-terrorist financing standards. This is a huge achievement for us, as compliance is a cornerstone of our business and what we stand for.”

Institutional FX

State Street launches FIX API for Fund Connect ETF platform

“Expanding from proprietary APIs to the FIX industry standard will bring us closer to our goal of 100% digital interactions. This is another example of innovations we’ve brought to our operating model as we celebrate 30 years of servicing ETFs since the launch of SPY.”

Industry News

HollyWally opens office in Portugal to bring B2B2C wallet-as-a-service platform to Europe

“We looked at a number of centers for startups throughout Europe and were attracted straight away to Lisbon. There is great Government support and enthusiasm for startups, it’s well positioned between our Asian and US offices, it’s a cost-effective city in which to base a fintech and it’s a beautiful place.”

Retail FX

Eightcap integrates Acuity’s economic calendar for trade ideas on MT4 or MT5

“By incorporating Acuity’s cutting-edge AI technology into our platform, we are able to offer our clients a powerful new tool that will help them stay ahead of the markets. We are committed to providing an extensive range of tools and educational resources that will enhance our clients’ trading experience and allow them to trade smarter.”

Digital Assets

Fuse Network powers Web3 economy, payments with ‘Fuse 2.0’

Web3 payments revolution startup Fuse Network announced the release of ‘Fuse 2.0.’ alongside a new roadmap, whitepaper, and fresh branding aimed at bringing crypto payments to the mainstream global economy.

Inside View

Private Equity Renaissance

Recent years have seen a resurgence in the concept of trading physical equities, with a slew of new arrivals joining the market for what is arguably one of the oldest forms of investing. But what has been the driving force behind this change in momentum?