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Cross Finance
What Can CrossFi Do?
Uruba Niazi

VP of Marketing - Content

23 Apr 2024
5 min read

In this article, we will dive into each CrossFi product and their purpose for being built for our user base.

CrossFi was created to provide better financial solutions for the general public. Crypto users needed better ways to pay for goods and services using their non-custodial wallets, Web3 developers required faster and more accessible tools to create new dApps, and unbanked users needed access to banking solutions worldwide. While keeping our users in mind, CrossFi created cutting-edge solutions catering to each group. In this article, we will dive into each CrossFi product and their purpose for being built for our user base. 

Crypto Users and Unbanked Population

A large population worldwide has access to a cell phone and the internet, but there are no financial institutions like banks where people can go and open an account. They would have to travel for hours to find an office. The CrossFi App marks a revolutionary leap forward in digital banking, seamlessly blending traditional finance with cryptocurrency realms. Crafted as an all-encompassing modern banking platform, it caters to both the banked and unbanked, providing unmatched accessibility, convenience, transparency, and advantages surpassing traditional banking norms. With its ability to facilitate smooth transactions in both fiat and cryptocurrencies, the app signals a dawn of unprecedented financial freedom and inclusivity.

Your funds are under reliable protection and are always available for withdrawal. We are a fully decentralized bank, holding your funds on a smart contract (and do not have access to them without your consent).

Some features of the CrossFi App include:

Decentralized Non-custodial Payment Solutions: Hold XFI through Metamask and get unlimited opportunities to pay for anything using a virtual or physical CrossFi card.
Unified Banking Experience: Seamlessly manage crypto and fiat currencies within a single platform.
Card Provisioning: Access virtual and physical VISA cards directly from the app.
Global Reach: The CrossFi App facilitates cross-border transfers via SWIFT, IBAN, and peer-to-peer (P2P) transfers using cards or phone numbers.
Competitive Exchange Rates: The app offers favorable currency exchange rates, empowering users to bank and store wealth in their preferred currencies.
Multi-Currency Card Management: Create and oversee multi-currency cards with the flexibility to link them to selected currencies.

The app leverages cutting-edge technology to ensure a secure and efficient user experience. This includes state-of-the-art data security encryption, real-time currency exchange rate updates, and seamless integration with decentralized wallets. The design and functionality of the CrossFi App are centered around the user experience. This focus is evident in the intuitive interface, straightforward navigation, and 24/7 customer support.

Advanced Crypto Users

The CrossFi xApp is purpose-built for advanced crypto users seeking Defi solutions on a trusted platform. At the heart of the xApp lies a range of DeFi features. Users can partake in token swaps, bridge assets across different chains, obtain CrossFi’s native coins, such as XFI and MPX, and engage in liquidity provision. Moreover, the xApp supports a strong staking initiative on the CrossFi Chain, allowing users to get rewards while enhancing the ecosystem’s effectiveness.

The Staking section is a central hub for users to monitor and manage their liquid and staked assets, offering a comprehensive overview of their holdings within the xApp. Users can easily acquire the necessary assets to participate in staking rewards with a simple tap. 

The primary function of the rewards claiming feature is to allow users to extract the rewards and value accumulated earned through Staked LP tokens, Foundation rewards, and trading fees. This function ensures that contributors are duly compensated for their participation. Earnings within the ecosystem come from various sources:

  1. Trading Fees: Users receive rewards from the trading fees amassed in CrossFi asset pools on the CrossFi Chain. These fees are redistributed to incentivize and compensate active traders and liquidity providers.
  2. Foundation Stake: The CrossFi foundation stakes MPX, releasing XFI as a reward. Users can claim these rewards as esXFI (escrowed XFI), which can later be exchanged for XFI by users willing to lock their lpXFI for a set duration. This setup promotes sustained participation and bolsters platform stability.

The Escrow XFI staking feature is crafted to give users an extra percentage boost in rewards, encouraging longer-term commitment and offering improved yield opportunities. 

Developers and the Tech Industry

The CrossFi Chain is the foundation of the ecosystem that supports the CrossFi App and Xapp. The CrossFi chain’s modular architecture is based on a Cosmos and Tendermint core, creating a framework for accessible, customizable, and scalable building environments. 

Tendermint Core is an open-source blockchain developer software. It allows you to create applications in any programming language. The critical quality of Tendermint is speed. The transaction is included in the block in seconds and does not require time for confirmation. Tendermint Core architecture is a Byzantine Fault Tolerant (BFT) consensus protocol. It is secure and eliminates fraud, as the Tendermint algorithm automatically blocks nodes transmitting incorrect information during validation. Tendermint is used to scale public PoS blockchains. The Tendermint Core is based on the well-known decentralized, scalable, interoperable ecosystem of independent Cosmos blockchains.

Cosmos SDK is a framework that allows developers to create customized blockchains based on the Tendermint consensus algorithm. It enables you to build blockchain systems without the distraction of consensus and network layers and focus directly on building the application logic.

Together, the Tendermint BFT and Cosmos SDK enable the CrossFi Chain to deliver: 

  • Consensus protocol – DPoS (Delegated Proof of Stake)
  • Byzantine fault tolerance – 2/3
  • Maximum number of validators – 64
  • Block time – 5 seconds (possible reduction to 1 second)
  • Transaction per second – up to 10 000
  • Operations per transaction – up to 100
  • Transaction confirmations – 1 block
  • Basic transaction fee – $ 0.02

The CrossFi Foundation provides initiatives and grants to foster growth and innovation within the Cross Finance ecosystem. It is committed to supporting users, ambassadors, developers, and validators through various initiatives, like the testnet we are running right now. CrossFi has allocated 420,000,000 $MPX tokens (~4.88% of total supply) to early adopters who help test and improve their network. With an allocation of $4M, the developer initiative aims to attract innovative ideas to be built on top of their chain. And an allocation of $2M, the user initiative focuses on testing and scaling apps built in their ecosystem. You can join the testnet here and experience the future of decentralized finance.


In conclusion, CrossFi stands as a beacon of innovation in financial solutions, addressing the diverse needs of crypto users, the unbanked population, and developers in the tech industry. Through the CrossFi xApp, advanced crypto users can access a wide array of DeFi features and participate in a robust staking program. At the same time, the CrossFi App provides a revolutionary digital banking platform that caters to both the banked and unbanked, offering unparalleled accessibility and convenience.

Moreover, the CrossFi Chain, built on Cosmos and Tendermint, serves as the backbone of the ecosystem, providing a modular and scalable framework for developers to create customized blockchains. With its emphasis on speed, security, and interoperability, the CrossFi Chain paves the way for the next generation of decentralized applications.

Together, these components form a comprehensive ecosystem that embodies the ethos of inclusivity, accessibility, and innovation, propelling the financial industry into a new era of progress and prosperity.


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