Chromia Unleashes Asgard Upgrade - $CHR Staking, AI Integration, and $20M Fund
Chromia’s Asgard Upgrade is bringing real innovation to the table—think real-time data feeds, AI integration, and privacy through ZK proofs.
$CHR staking now live and they have a $20M fund to support AI and data projects.
A deep dive into Chromia 🧵👇
Key Takeaways
Asgard Upgrade: The Asgard Upgrade in Q4 2024 introduces game-changing features like real-time data feeds, AI computation, and enhanced privacy through ZK proofs.
Chromia Extensions: Custom tools that enhance dApp functionality across multiple blockchains.
$20M Data & AI Ecosystem Fund: Chromia is committed to driving innovation in AI and data-intensive projects.
Native Staking: $CHR staking on Chromia’s Layer 1 network, giving users a chance to earn rewards.
Why Chromia? Solving Blockchain's Growing Pains
Current blockchain platforms like Ethereum come with a host of challenges that make building dApps a real headache.
High transaction fees, slow speeds, and complex developer environments make it tough to scale apps and create a smooth user experience.
On top of that, developers often have to rely on centralized services for data management, which isn’t ideal for security. Chromia steps in by rethinking the whole blockchain structure, offering a more scalable and developer-friendly platform that combines blockchain with a relational database model.
This allows dApps to be faster, more efficient, and much easier to build and maintain. Made possible as every dapp gets its own blockchain, hence the speed.
What exactly is Chromia?
@Chromia is a blockchain platform designed to overcome the limitations of existing blockchains, like Ethereum, by enabling scalable dApps with improved user experience, customizable fees where every dapp gets a chain and devs can customize a subscription.
It optimizes blockchain as a shared database, offering enhanced performance and flexibility for complex dApps, including large-scale games.
The Road to Chromia's Mainnet
2024 is shaping up to be a game-changer for Chromia.
They kicked things off with their MVP Mainnet in June, laying the groundwork for what’s to come. But the real star is the Asgard Upgrade, set to launch in Q4 2024.
This upgrade is more than just a technical boost – it’s the key to unlocking Chromia’s full potential.
One of the coolest features coming with Asgard is Extensions. These are customizable tools that not only enhance Chromia-native dApps but also work with other chains, including Ethereum.
Think of them as powerful add-ons that bring real-time data, AI computation, and top-notch security (thanks to zero-knowledge proofs) to your dApps.
Boosting dApp Power with Extensions
With Asgard, developers will have a whole new toolbox. Chromia’s Extensions are designed to make dApps smarter and more flexible.
Here’s what they bring to the table:
Oracle Feeds: Bringing real-time data directly to your dApp.
AI Computation: Giving dApps the power to integrate AI directly.
Zero-Knowledge Proofs: Ensuring privacy and security for users.
These features will supercharge dApps on Chromia, but they’ll also be handy for developers working on other chains who want to tap into Chromia’s tech.
Chromia has also just rolled out its latest roadmap updates.
The key highlights? Bridge Enhancements and native $CHR staking, both of which are set to boost asset support and drive up TVL for their L1 platform.
On top of the Asgard upgrade, Chromia is launching a $20 million Data & AI Ecosystem Fund to fuel innovation in the world of decentralized AI and data projects.
The fund will support data-intensive projects leveraging AI technologies, including:
Data Cleaning and Automation: Projects that require preprocessing and organizing large datasets for optimal performance.
AI Model Integration: Applications that incorporate machine learning models for predictive analytics, natural language processing, or other AI-driven functionalities.
Real-Time Data Analysis: Solutions that necessitate immediate data processing and responsiveness, such as decentralized finance (DeFi) platforms, supply chain tracking, and IoT integrations.
Led by @YeouJie, Chromia’s Global Head of Business Development, it will also support projects that are pushing the envelope in AI and data, using Chromia’s unique architecture to build the future of dApps.
$CHR Token
The $CHR token is the native cryptocurrency of Chromia, powering the platform's entire ecosystem.
It plays a vital role in paying for network resources, deploying dapps, and compensating network providers.
Users can stake $CHR to earn rewards and also delegate it to ensure accountability among providers.
Here’s a look at the tokenomics -
With a max supply of 978M tokens and staking incentives, $CHR is positioned as a key element driving Chromia’s growth.
Native Staking is now live on Chromia, Go check it out -
https://x.com/Chromia/status/1838580531891425747
Why Stake Your $CHR?
Earn Rewards: Staking $CHR earns you a 10% APR in native tokens, along with a share of network fees generated by your delegate.
Contribute to Governance: Providers need to meet a minimum CHR balance through their own stake and delegations. By backing reliable providers, stakers help maintain the network's security and integrity.
Ecosystem Benefits: Staking $CHR may also qualify you for ecosystem rewards like quests, airdrops, and special promotions from Chromia and its partners.
What’s Next?
For users, the upcoming Asgard Mainnet offers an opportunity to stake $CHR and interact with flagship Chromia dApps like @MyNeighborAlice and @MinesOfDalarnia
For builders, Chromia provides ecosystem support through its $20M Data & AI Ecosystem Fund, enabling them to develop and deploy Extensions that enhance dApp functionality and scalability on the platform.
There’s a lot to look forward to with Chromia, and their updated roadmap has some exciting things coming down the line.
Follow their Twitter @chromia and visit chromia.com to stay updated.