Liquid ATOM wallet

What is Liquid ATOM (LATOM)?

The unusual thing about LATOM is where it lives. The asset it represents is ATOM, staked through Veno; the token you hold is issued on Cronos, an EVM chain. So the claim points at one ecosystem while the balance sits in another, and everything about handling it follows from that split.

Concretely, LATOM uses an Ethereum-style 0x address, not a cosmos1 one. A Cosmos Hub address is not a valid destination for it, it will not appear in a wallet watching the Cosmos Hub, and it is not ATOM in any interchangeable sense. It is also not LCRO, the sister token from the same protocol built on staked CRO, although the two behave identically in shape: fixed token count, an exchange rate against the underlying that carries the accrual, and redemption through the protocol subject to the unbonding rules of the staked chain.

Fees for any LATOM transaction are paid in CRO, since that is the gas coin of the chain the token is on, which surprises people who expect an ATOM-linked asset to be fed by ATOM.

Given a token whose name points one way and whose address points another, it helps that Tangem tracks each network as its own balance and states the network a transfer will leave on before the card is asked to sign. Read that line; an EVM address looks identical across chains and no wallet can tell which chain the other side is watching, so that check is yours to make. Keeping the asset somewhere that puts the network in front of you suits a token that is easy to misfile.

Supported networks in Tangem (1): Cronos.