Leading Cronos DEX and yield farming platform VVS Finance have announced the launch of Auto Harvest for Crypto.com Prepaid Cardholders. The feature enables users to automatically harvest yield from DeFi farms to be used to fund their prepaid card for everyday spending.
The feature is live as of today across all farms issuing VVS tokens that are labeled as Auto Harvest on the VVS Finance platform. For users selecting Crypto.com as their harvest destination, rewards (after fees) are converted to fiat via USDC or a local equivalent, and funded to their linked Prepaid Card, subject to regional availability.
Esther Wong, Senior Vice President of Cards at Crypto.com said: “The Crypto.com Prepaid Card is a vital bridge between the fiat and crypto worlds and a stepping stone to participating in decentralized finance. The launch of Auto Harvest reinforces this by allowing VVS Finance users to automatically claim their yield farming rewards and seamlessly use them to enable spending on everyday goods and services.”
Mirko Zhao, Cronos Labs Lead said: “VVS Finance’s Auto Harvest feature shows that what happens on Cronos chain doesn’t have to stay on Cronos chain. Its native integration with Crypto.com Prepaid Card gives Cronos users the freedom to claim their yield farming rewards and decide where to utilize them – for other DeFi purposes onchain, or to cash them out to their prepaid card.”
Yotei, Product Lead at VVS Finance said: “The launch of Auto Harvest seamlessly connects DeFi and CeFi, making it easy for VVS users to claim rewards and immediately allocate them for everyday spending. It’s a breakthrough in making decentralized finance accessible to mainstream users, who can seamlessly claim their rewards and convert tokens with zero friction.”
Auto Harvest rewards are automatically harvested daily once they have reached a minimum threshold of $6, though users retain the ability to manually claim from an Auto Harvest farm without any processing fee at any time. Its integration for Crypto.com Prepaid Cardholders makes it easier than ever for users to off-ramp crypto and spend it in the real world without the usual multi-step delays.
The incorporation of Auto Harvest into Crypto.com Prepaid Card bridges DeFi with real-world usability. It also reduces the complexity of managing yield farming, making DeFi more accessible to users unfamiliar with onchain mechanics.
VVS Finance is the leading DeFi protocol on Cronos with a broad base of active users and a focus on user-friendly financial tools. It forms the gateway to Cronos, empowering DeFi users to trade, stake, earn, and take control of their digital assets. With support for advanced order types and perpetual markets, VVS provides a diverse basket of services within a single platform.
Cronos is a leading blockchain ecosystem, adopted by more than 500 application developers and partners representing an addressable user base of more than 100 million people around the world. Cronos’ mission is to make it easy and safe for the next billion crypto users to adopt self-custody in Web3, with a focus on Decentralized Finance and Gaming.
The Cronos universe encompasses 3 chains: Cronos (EVM), the leading Ethereum-compatible blockchain built on Cosmos SDK; Cronos POS, a leading Cosmos chain for payments and NFTs; and Cronos zkEVM, a new high performance layer 2 network.
Cronos ranks among the top 15 blockchain ecosystems, with more than 6 billion dollars of user assets stored on the network. Since launching in 2021, it has securely settled more than 100 million transactions.
Cronos Labs is the $100M startup accelerator focused on Cronos.
Founded in 2016, Crypto.com is trusted by more than 140 million customers worldwide and is an industry leader in regulatory compliance, security and privacy. Our vision is simple: Cryptocurrency in Every Wallet. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation.
