With $100 million allocated from the CRO ecosystem fund, Cronos Labs was formed to launch the Cronos chain (formerly Crypto.org EVM chain). The first version was launched in November 2021 as a standalone Layer-1 (L1) leveraging the Cosmos SDK. Since its inception, Cronos has had impressive growth, ranking in the top 10 in total value locked (TVL) and top 20 in market capitalization.
