Key takeaways
- Chromia will launch its MVP Mainnet on July 16.
- The MVP Mainnet will introduce native CHR tokens, transitioning from Ethereum and BNB Chain.
- Core functions like network fees and payouts will be handled exclusively on the MVP Mainnet.
Chromia, a blockchain platform integrating relational databases, is set to launch its MVP Mainnet on July 16, 2024. This milestone will mark the genesis of the native CHR token, transitioning from its current form as an ERC-20 token on Ethereum and a BEP-20 token on the BNB Chain.
With the MVP Mainnet going live, CHR tokens will bridge from Ethereum and BNB Chain to the new network. This transition aims to improve the network’s operation and security.
Core functions
The MVP Mainnet is the base of Chromia on which everything will be built. the launch will only include the base functionalities but the implications in the long term will be huge. It’s what the network needs to start growing.
The launch will initiate essential functions important to the network’s operation, such as payment of network hosting fees and provider payouts, which will be managed exclusively on the MVP Mainnet. The staking and delegation process will switch to the new system by the end of Q3, 2024.
Once completed, the result will be a blockchain that offers a more streamlined user experience while maintaining the permissionless and decentralized nature. It will allow developers to build Web3 tools tailored to their needs while users will be able to interact with dApps even if they don’t own any cryptocurrency.
“Our journey began twelve years ago with Colored Coins, the world’s first token protocol. Following this, we launched a bank-backed stablecoin and recognized the potential of integrating relational databases with blockchain, inspiring the development of Chromia.”
—Chromia co-founder Henrik Hjelte
Bottom line
Chromia’s MVP Mainnet launch sets the next stage in its evolution. It’s the first step of many that signals the future growth of the network. It’s launch will mark the genesis block for the CHR token and open an array of possibilities for developers and users alike.
