Liquid CRO wallet

What is Liquid CRO (LCRO)?

LCRO is the receipt token issued by Veno when CRO is staked through it. The CRO itself goes to validators; you keep a token on the Cronos EVM chain that represents the claim, and that token is transferable and usable across Cronos applications while the underlying stake remains delegated.

It is an auto-compounding design, which in practice means the token count in your wallet stays flat. Accrual is folded into the rate at which LCRO converts back to CRO, so the way to read your position is the conversion rate, not the number of tokens. This is worth saying plainly because a holder who checks the balance after several months and sees the same figure sometimes assumes something went wrong.

Two other practical points. Redeeming LCRO for CRO through the protocol goes through the chain's unbonding period rather than settling immediately, so the quick route out is trading it on Cronos, when a pool is available. And LCRO is not CRO: it is a separate contract, and a wallet will list it as its own line item.

Fees on Cronos are paid in CRO, which means the wallet holding your LCRO also needs a small amount of plain CRO to be able to move anything at all. Tangem keeps both in the same place, and a transfer is signed by holding the card to the back of the phone, which takes a moment and needs no charging or cable. When the token you want to move and the coin that pays for moving it live side by side, an unwind is a single short session rather than an errand.

Supported networks in Tangem (1): Cronos.