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Simple and secure liquid staking.
Earn more rewards with Veno! Boost extra APY with our ecosystem partners!

Veno Finance

Staking is a common mechanism to secure Layer 1 Blockchains; for CRO, users can stake CRO on the Crypto.org chain to receive CRO staking rewards. However, with an increase in adoption of Web 3, staking may be unfriendly to users who prefer immediate liquidity on their CRO holdings. In the case of CRO, the unstaking period is an exceptionally long 28 days. Staking may also be quite a hassle as it requires users to select and frequently monitor their delegated validator status. Worst yet, many users are also unfamiliar with the risks and inner workings of staking. This is where our one-stop liquid staking solution comes in.

Get Started with Veno

Veno is a liquid staking protocol where you can stake your CRO and receive the auto-compounding, yield-bearing receipt token LCRO. The LCRO token is designed to maximize composability. Just by owning LCRO, you automatically accrue the CRO staking yield value in your LCRO token; LCRO can thus be used freely across the Cronos DeFi ecosystem.

Veno’s liquid staking token LCRO offers the most extensive, lowest cost, and most reliable method of utilizing your staked CRO.

Why Veno?

We are a vertically integrated liquid staking protocol, maximizing the reliability and efficiency of our service; allowing us to provide a price-competitive service in the long term;

Cost savings are achieved by leveraging our own node infrastructure and/or infrastructure of our partners

Reliability is achieved with our enterprise-grade node set-up and deep expertise in running node infrastructure

We also have an insurance module that will help to secure user funds in the unlikely event of a slashing penalty

We will aim to maximize the adoption and utility of our tokens across the ecosystem, and we are working with some of the largest ecosystem partners to make this happen;

We want to maximize the liquidity of LCRO in the Cronos Ecosystem and beyond, attracting the largest amount of capital, and attaining the lowest spread, with our high reliability and low-fee promises

LCRO is an auto-compounding yield-bearing token to maximize composability

We can further maximize user liquidity by providing a tradeable NFT after user unstakes their CRO

Introduction
What is Liquid Staking?
Liquid staking allows users to stake and earn yields without locking their assets into a protocol. To achieve that, users will have to deposit staking tokens into staking pools and will receive a token receipt of the corresponding liquid staked token. With that, users can use the token within the ecosystems for various yield strategies to maximize their earnings without the need of unstaking.
What is LCRO?
LCRO is the token receipt of liquid staked CRO that users will receive after staking CRO with Veno. LCRO is an auto-compounding yield-bearing token, where its internal exchange rate on Veno will increase over time when compared to CRO based on CRO staking yield on Crypto.org.
As users automatically accrue the CRO staking yield value in their LCRO token; LCRO can thus be used freely across the Cronos DeFi ecosystem. LCRO holders will: (1) be able to utilize them as collateral while earning staking yield, (2) be able to find immediate CRO liquidity with low fees, and many more.
Reservoir
The Reservoir carries dual functionality and is both Veno’s reward participation and insurance module. Users can lock VNO to receive CRO rewards here. Users can choose between lock durations of 3-months, 12-months, 48-months, and 96-months to lock their VNO. The longer the lock duration and/or larger the quantity locked, the larger proportion of rewards will be shared to the users.
Veno aims to provide a sustainable 50% share of validator rewards (in CRO) to VNO stakers in the Reservoir. The validator commission on CRO staking yield is 10%, and Veno does not take any additional commission on the staking yield.
In return, Reservoir VNO stakers also bear the risk of a slashing penalty that could cause a loss in users’ CRO; in such situations, Veno will draw down on any accrued rewards in CRO from its own treasury, and channel future rewards sharing of the Reservoir (if required) to repay affected users until the full damaged is covered.
Below shows the multiplier amount corresponding to different vaults:
Vault
3-month Lock
12-month Lock
48-month Lock
96-month Lock
Multiplier
3x
12x
48x
96x
Fountain
The Fountain is where users can lock VNO to receive VNO incentives. Users can choose between lock durations of 3-months, 12-months, 48-months, and 96-months to lock their VNO. The longer the lock duration, the larger the proportion of VNO emissions for the users.
Here is the multiplier amount as well as the exit penalty corresponding to different vaults:
Vault
3-month Lock
12-month Lock
48-month Lock
96-month Lock
Multiplier
3x
12x
48x
96x
Exit penalty on the amount of VNO that user is exiting
60%
70%
80%
90%
% of penalty to other lockers
50% 
50%
50%
50%
% of penalty to treasury
50% 
50% 
50% 
50% 
Note: For exit penalty paid to other lockers, it will be automatically locked into the 96-month vault and it needs to be claimed by other lockers. The amount that each remaining lockers' get is determined by their weighted share of # of VNO locked * Vault multiplier.
Veno Garden
What is Veno Garden?
Veno Garden is a new addition to Veno Finance. The goal of the Garden is to enable our community to participate in the Veno ecosystem and earn more rewards from using LCRO and VNO. This feature allows you to deploy your LCRO and VNO onto partner protocols directly from the Veno App. With that, you can earn additional rewards by planting your LP and tTokens in the Veno Garden.  
If you wish to enjoy a higher APY in Veno Garden, you can also lock your VNO in the Fountain or Reservoir and receive a “watering” boost on your Garden earnings. In a later update, you will be able employ helpers to grow your garden by staking your NFTs to further increase the yield.
Available Gardens
​​
Ferro Garden
Plant your  LCRO-CRO-LP to earn VNO rewards.
VVS Garden
Plant your  VVS–VNO-LP to earn VNO rewards.
Tectonic Garden
Plant your  tLCRO to earn VNO rewards
Watering
Watering allows you to boost your VNO earnings for all gardens, which is done by locking VNO into the Fountain and Reservoir. The more VNO locked and the longer the period, the larger the boost you will receive on all your gardens.
VNO requirements illustrated for each watering boost multiplier, if locked exclusively for a single period .
Helpers
In the Veno garden you have been able to plant, grow and harvest, earning you VNO rewards. Helpers will elevate the growing game to the next level. If you want to boost your garden earnings they can hire up to 5 helpers on each garden. Each hired helper will help to grow the garden and boost its rewards.

​​
A helper can be any NFT from our partnership collections. When you hire a helper, the NFT will be transferred from your wallet to the garden. Meaning the NFT cannot be used in the meantime. But you are able to fire your helper at any time to receive back the NFT into your wallet.
To be able to hire helpers onto any Garden, you need to have already set up watering, with a watering boost of 1.05x or higher. Watering can be set up by locking VNO into the  or .
At launch Veno Garden will have 2 NFT collections available to hire helpers from: and . The VVS Miner Mole collection will be available to employ helpers from for a limited time of 3 months. Cronos Cruisers is a permanent collection to hire helpers from. 

See the tables below on how much boost each helper provides based on their Rarity and Tier.
Cronos Cruisers
Legendary
Epic
Rare
Common
Boost
+0.210x
+0.105x
+0.0525x
+0.021x

VVS Miner Mole
Legendary
Epic
Rare
Special
Common
Tier 1 (Highest)
+0.240x
+0.120x
+0.0600x
+0.0400x
+0.024x
Tier 2
+0.220x
+0.110x
+0.0550x
+0.0350x
+0.022x
Tier 3
+0.210x
+0.105x
+0.0525x
+0.0320x
+0.021x

How is the garden boost calculated?
The total boost multiplier applied to your specific garden is Watering Boost + Helper Boost. The total maximum boost that can be achieved is capped at 2.0x.
For example on the Tectonic Garden, you have an active watering boost of 1.15x the following helpers employed:
Rare Cronos Cruiser: +0.0525x
Tier 2 Special VVS Miner Mole +0.0350x
Tier 1 Common VVS Miner Mole +0.021x
Providing a total active helper boost of +0.1085x. The helper boost is added on to the watering boost, bringing the garden’s total boost to 1.2585x.
​​
How can I use helpers?
Learn how you can hire and fire helpers in our Guide: .
Staking Dashboard
Staking Dashboard allows you to view your lifetime earnings, pending earnings, transaction history as well as the historial staking APY. Check out the graphs and FAQ sections below to learn more about this feature.
​​​
FAQ
Q: What are lifetime earnings?
A: Lifetime earnings are the sum of all the staking rewards the connected wallet has earned by holding LCRO.

Q: What are pending earnings?
A: Pending earnings are the sum of all staking rewards a wallet can receive if they unstake all their held LCRO.
Q: How are LCRO holdings determined?
A: To calculate lifetime and pending earnings, Veno will consider all LCRO held in your wallet or deposited into a tracked protocol. Currently the only tracked protocol is Ferro.

Q: What if I receive LCRO without staking?
A: Veno does not distinguish the source of LCRO. As it look only at inflows and outflows of LCRO. Earnings are determined by the change of the exchange rate based on LCRO held. Exceptions are made for transfers into tracked protocols such as Ferro.

Q: What if I transfer out LCRO without selling or unstaking?
A: Unless transferred into a tracked protocol, Veno treats all outflows of LCRO equally as realizing earnings relative to the LCRO amount held at the time of the outflow.

Q: How is the LCRO price determined?
A: All earnings are denominated in CRO. For each block the CRO value of LCRO is dictated by Veno’s internal exchange rate.

Q: How can I receive the pending earnings?
A: The displayed pending earnings are realized by unstaking all held LCRO, including those staked in tracked protocols. Note that additional transaction costs are not considered.

Q: What if I deposit LCRO together with CRO into the Liquidity LP pool?
A: Veno will track the earnings based on the amount of LCRO relative to the total amount valued in CRO deposited to mint the LP.

Q: What if I was sent Ferro LCRO-WCRO-LP Tokens?
A: The LCRO-WCRO LP sent will be attributed based on the amount of LCRO that originally went into minting the LP.
Q: What is the difference between Net APY and Gross APY in the Real Staking APY Graph?
A: Net APY is the actual staking APY after deduction of management fees. Whereas Gross APY is before the deduction of management fees.
Partners
Cronos ID
Cronos ID is a decentralised identity and communication layer built on Cronos. On a broad level, Cronos ID will give users the ability to send and receive information on-chain, powered by human-readable identifiers.
Veno supports the integration of Cronos ID in which users could use their minted domain in our platform.
Website: ​
Ferro Protocol
Built on the Cronos blockchain, Ferro Protocol is a StableSwap AMM protocol that brings a more efficient way for users to exchange and farm tokens by creating more efficient pools consisting of highly correlated assets, as well as allowing better composability between protocols in the Cronos ecosystem.
In partnership with us, Ferro is the official DEX to offer LCRO liquidity by providing an LCRO-CRO stable pool.
Website: ​
Minted Network
Minted.network is a decentralised NFT platform that aspires to be the digital bazaar of wonders for everyone to discover, trade, and find NFT gems, native to Ethereum and Cronos. Aiming to bring more tools for collection owners to design, curate, and offer utilities to their communities, all without the technical complexities that riddle many aspiring collection owners.
In partnership with us, Minted is the official NFT marketplace for the Veno NFT collection.
Website: ​
CRO Staking & Unstaking
CRO Staking
Users can stake their CRO here to receive LCRO based on the latest internal exchange rate. Veno will bridge users' CRO from Cronos chain to Crypto.org chain, which will be staked and auto-compounded on Veno’s validator(s).
CRO Unstaking
Users can also unstake their CRO on Veno, upon which their LCRO will be burnt, and wait up to 32 days to receive their CRO back, based on the exchange rate. There will also be a small withdrawal fee of 0.2% on unstaked CRO. Note: CRO takes 28 days to unstake on Crypto.org chain, and unstaking will be performed in batches every 4 days, hence the maximum wait time of up to 32 days.
Upon requesting to unstake their CRO, users will receive an NFT representing their claimable CRO as of a specific date, which can be transferred/sold on selected third party NFT platforms during or after the 28-32 day waiting period to further enhance users’ liquidity. Note: The unstaked CRO will be claimable for the NFT owner at the end of the waiting period, hence do keep the NFT for yourself if you wish to receive the unstaked CRO.
Staking APY
The Staking APY displayed on Veno is calculated based on the increase of the exchange rate from CRO to LCRO in the last 24 hours compounded daily.
Using the change in the LCRO exchange rate as the base for the Staking APY means that it reflects the real earnings from holding LCRO and that users do not have to think about validator commission or protocol fees.
At launch, Veno will be using the change in the LCRO exchange rate over the last 24 hours. When more data is available, this will be switched to the last 7 days instead. This aims to provide a more consistent APY estimate.
Additionally, at launch the Staking APY is calculated from a daily compounding rate, however in reality Veno compounds much more frequently than that. After gathering enough data, the calculation will be switched to a compounding rate that better reflects Veno’s real compounding rate. We err on the side of caution to advertise realistic returns to users.
Drought Events
To ensure reliability and security in Veno, our team has implemented a mechanism to help mitigate the impact of slashing penalties.
What is Slashing Penalty?
Slashing penalty occurs if a node encounters a double-signing fault; typically caused by an operational failure, where a backup node (with the same validator key) is enabled accidentally, and joins the network. Although it rarely happens, the impact of slashing penalties is huge because 5% of all staked CRO within that node including unbonding users’ staked CRO and the node itself will be depreciated. The impacted validator will also be blacklisted.
When a slashing penalty event happens, as known as the Drought Event, all protocol revenue allocated to the reservoir will be paused. Accrued treasury revenue and future protocol revenue will be used to repay LCRO holders / unbonding users. Once the entire damage to users is paid out, this vault will resume its service as normal.
Fees & Rewards
Veno earns revenue by charging a 10% fee on staking rewards which includes validator commission. The protocol will also earn a 0.2% withdrawal fee when a user unstakes their LCRO. 
Security & Audits
Veno's core smart contracts have been audited by SlowMist in Nov 2022. For details, please refer to the following attachment.

Validator Nodes
To ensure the scalability, reliability and efficiency of Veno’s operations, our team has set up our own node infrastructure which enables us to provide lower fees and a reliable service with an average validator uptime of ~100%.  
While we are launching Veno with our own  we are exploring options to also partner with other operators to ensure the decentralization of the crypto.org blockchain and to further improve cost savings.