We are all aware of crypto.com and their native token CRO. No reminders needed.
I have been a client with them for some time ( I bought MCO to stake for a card, as a time frame ).
However I was not a great fan— debit card aside.
As of late, in the view of the CRO blow up, I decided to explore a bit more their environment. Bear in mind I have no idea what I am doing…… I can hardly read and write.
CdC has an app ( debit card, earn programs, etc…), an exchange for those that live in a free country ( sorry ‘murica😆), and also a Defi wallet.
So I set up my Defi wallet, passphrase and all and linked it to my CdC app. Then I sent over some CRO on the CRO chain to test the water ( minimum fees, something along 0.001 CRO ).
Then you can stake your CRO with a validator.
However I was not interested in doing that……yet.
What I wanted to try out was VSSfinance, a dapp.
I then realized–with the help of folks on the VSS sub– that my CRO had to be on the Cronos network ( test network ? Beta ?) to be able to use the dapp.
Thankfully there is a bridge to do just that in the Defi wallet ( again with minimum fees, something like 0.002 CRO, I think ).
Soooo, I now had CRO on the Cronos network, and could finally ‘ see’ them in the VSS dapp. What could I do ? Well, nothing sadly. lol. I could ‘ mine’ VSS, ie stake VSS, but I had none. I could ‘ farm’ Liquidity Pools, but I needed another token.
There is a swap feature in the VSS dapp. That I didn’t use.
So, I went back toy CdC app to send more CRO ( I did a test transaction first ). I could send it as an ERC20 token , CRO network ( as I did for the test ) or on Cronos. However the fee on Cronos was 0.2 CRO vs the 0.001 CRO on the CRO network. So I did it with the CRO network and then went back to Defi wallet and bridged them to the Cronos network.
Important : I left some CRO ( on CRO network, to pay for fees ).
I then went back to my CdC app and sent some USDC to my Defi wallet on the Cronos network, as there seems to be no possibility to do that on the CRO network. Fee was 0.6 USDC.
Now, the USDC does NOT show up on the Defi wallet, but does on VSS dapp ( different networks I guess ).
So in the VSS dapp I decided to stick some CRO and USDC in a LP. Seems easy ? Well no. First you have to accept the contract (?) to interact with the tokens ( small fee ), then you have to ‘ buy ‘ a wrapped CRO/USDC token ( small fee ) and then stake those tokens in the LP ( another small fee ).
I finally seem to be earning VSS tokens but again, you need to pay a fee to claim them ( 1 CRO ) and perhaps some LP token (?), but I have no idea how to even see that.
All that was kind of complicated, and I still am trying to wrap my head around what I have done.
All tips and clarifications are welcome !!!!
TLDR :. Defi is a whole other rabbit hole, and it is nice to have a ‘ cheap’ network ‘ to try and discover it.