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Description

Veno Finance is a liquid staking protocol that enables users to stake CRO and ATOM, receiving auto-compounding, yield-bearing tokens, LCRO and LATOM. Launched on December 14, 2022, Veno's vertically integrated approach ensures high reliability and cost-efficiency by utilizing its own and partners' node infrastructure. The protocol includes an insurance module for user fund protection and aims to maximize token adoption and liquidity across the ecosystem. Users benefit from low fees, deep expertise, and tradeable NFTs for unstaked CRO, all within a highly reliable, enterprise-grade node setup.

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FAQ

What is Veno Finance's main purpose?

Veno Finance is a liquid staking protocol that allows users to stake CRO and ATOM tokens to receive auto-compounding, yield-bearing receipt tokens, LCRO and LATOM. Launched on December 14, 2022, Veno aims to maximize reliability, efficiency, and cost savings through its integrated infrastructure and partnerships, enhancing token adoption and utility in the Cronos ecosystem.

How does Veno Finance's liquid staking protocol work?

Veno Finance enables users to stake their CRO and ATOM tokens. In return, users receive LCRO and LATOM tokens, which are auto-compounding and yield-bearing. This means they grow in value over time without requiring manual reinvestment. The protocol leverages its own and partners' node infrastructures to ensure high reliability and cost efficiency.

What are the benefits of using Veno Finance for staking CRO and ATOM?

Users benefit from Veno Finance's enterprise-grade node infrastructure, which ensures high reliability and efficiency. The protocol offers low fees and a cost-competitive service. Additionally, it includes an insurance module to protect against slashing penalties. Veno also provides tradeable NFTs for unstaked CRO, enhancing user liquidity.

How does Veno Finance ensure the security of staked funds?

Veno Finance uses an enterprise-grade node setup and leverages deep expertise in node infrastructure management to ensure reliability. It also features an insurance module designed to secure user funds against potential slashing penalties, offering an extra layer of security and peace of mind for users.

How does Veno Finance compare to other liquid staking protocols?

Veno Finance distinguishes itself with vertically integrated infrastructure for cost savings and reliability. Its insurance module for slashing protection, auto-compounding yield-bearing tokens, and tradeable NFTs for unstaked tokens offer unique advantages over some competitors, enhancing liquidity and ecosystem participation.

What should users do if they encounter issues with staking on Veno Finance?

If users encounter issues with staking on Veno Finance, they should first check the protocol's documentation and FAQs for guidance. If problems persist, contacting Veno's customer support through the official website or community channels is recommended for personalized assistance and troubleshooting.

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