Blockchain network Chromiumhas announced two major updates to its ecosystem. The announcement shared that the “MVP” mainnet phase will end on September 30, and staking will begin on the mainnet on September 24. This transition marks a major milestone for the Chromia network, which will now officially be referred to as “Chromia Mainnet.”
Chromia Changes Its Skin
Originally released in July as a “Minimum Viable Product,” the MVP mainnet was intended to lay the groundwork for Chromia’s broader mainnet goals. The transition from MVP to mainnet has brought both CHR coin This follows the introduction of several major updates, including the integration of both deposits and withdrawals, as well as staking, delegation, and rewards directly in Chromia. These improvements are accompanied by security features added to the backend of Chromia’s bridge, paving the way for support for stablecoins and other EVM coins in the future.
With the direct network coin staking feature going live on September 24, users will be able to stake CHR coins, Ethereum on the Chromia network. 
$2,324.80 network, and BEP-20 CHR coins on the BNB Chain network. The new staking interface will allow staking operations on all three blockchain networks, provided they are staked using the same EVM address and associated Chromia account. Stakers will receive a 10 percent annual rate of return (APR) plus a share of the network fees earned by their delegates, which varies based on network size and cluster occupancy.
Existing stakers can start earning rewards under the new system CoinsThey will need to transfer their stake to a Chromia mainnet provider. Rewards will be distributed daily on the Chromia mainnet in CHR coins. There will be a two-week waiting period for withdrawal requests that operate on the blockchain. For example, if a user has staked both mainnet and ERC-20 CHR coins, withdrawing ERC-20 CHR coins from Ethereum will trigger the waiting period, during which time rewards will accrue only in mainnet CHR coins.
The old EVM staking system will continue to pay out rewards until September 28, 2024. However, users must claim any remaining rewards from the old staking page by April 1, 2025. After this date, any unclaimed rewards will be permanently lost. In particular, users who transfer their coins from Chromia on the first day of staking on the mainnet (September 24) will be able to benefit from double rewards for up to four days, as they will receive payments from both the new and old systems.
What is Chromia?
Chromia sets itself apart from its competitors by offering custom decentralized applications, a Layer-1 relational Blockchain approach with customizable fee structures and natively queryable data, real-time data indexing, and advanced cryptocurrency management. altcoin All of these features simplify user experiences and pave the way for new Web3 business models that challenge traditional Blockchain frameworks.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
