Cross Finance is on a mission to create an ecosystem where banking and cryptocurrency can coexist. That means offering all traditional banking and Web 3 crypto services in a seamless customer experience. On the path to achieve this, CrossFi launched its EVM Testnet on February 20, 2024, to attract builders and users to the testnet before the mainnet launch. CrossFi chose Coinlist as its EVM Testnet partner for their excellent track record of launching new projects in the Web 3 space and strong community of participants. The news of this launch was mentioned in multiple publications, Coindesk and Yahoo Finance being some of them.

The grants initiative is a diverse funding framework crafted to back various projects in the ecosystem and aid in establishing CrossFi as the top-tier hub for EVM Builders. It is geared towards showcasing community involvement, inclusivity, and transparency while advancing the collective well-being of the ecosystem by assisting project development on CrossFi Chain.

The CrossFi EVM Testnet is a 3-month initiative for validators, developers, and users with a total reward pool of $8.4M in MPX. 

The first stage is an initiative for validators with a prize pool of $2.4M in MPX. In the first 2 weeks of launching the testnet, the team has processed over 4000 applications from validators wanting to join the program. We have approved 400 validator applications already and were able to onboard over 64 validators in the first 24 hours. It is not just volume that we need to make it a success, but quality and expertise as well. This is why we have a rigorous acceptance criterion. So far, we have approved the world’s top validators into our program, like, Nodes, Guru, BwareLabs, Staking4All, Zeeve.io, Validatrium, Brightlystake, Matrixed, Link, 01node, Forbole, Allnodes, Neuler, Blockhunters, StakingCabin, Kiln, and Imperator, to name a few.

This is a very strong start to a three-month initiative that will allow everyone, from developers to users, to participate in this program and earn great rewards. The next initiative will start on March 10, 2024, to invite developers with innovative ideas to build on top of the CrossFi chain and expand its ecosystem of dApps and cross-chain services. To learn about our criteria and application process, visit our page on Coinlist. 

Users are our biggest and most vital audience. On March 15th, 2024, our testnet will open for users to participate in and provide feedback on innovative projects built on CrossFi. This will ensure the stability, security, and scalability of the CrossFi Chain before the launch of the mainnet. 

The CrossFi team is overwhelmed by the positive response and participation from the Web 3 community. It is motivated to deliver on its promise of creating the future of banking in the new Web 3 world.