VVS Finance Launches Auto Harvest for Crypto.com Prepaid Cardholders

VVS Finance, a prominent decentralized exchange (DEX) and yield farming platform on the Cronos blockchain, has introduced a new feature called Auto Harvest. This innovation allows Crypto.com Prepaid Cardholders to automatically harvest yield from DeFi farms and use these rewards to fund their prepaid cards for everyday spending. The feature is now live across all farms issuing VVS tokens that are labeled as Auto Harvest on the VVS Finance platform.

For users who select Crypto.com as their harvest destination, the rewards, after fees, are converted to fiat currency via USDC or a local equivalent and then funded to their linked Prepaid Card. This process is subject to regional availability, ensuring that users can seamlessly integrate their DeFi earnings into their daily financial activities.

Esther Wong, Senior Vice President of Cards at Crypto.com, highlighted the significance of this integration. She stated that the Crypto.com Prepaid Card serves as a crucial link between the fiat and crypto worlds, facilitating participation in decentralized finance. The launch of Auto Harvest further enhances this bridge by enabling VVS Finance users to automatically claim their yield farming rewards and use them for everyday spending on goods and services.

Mirko Zhao, Lead at Cronos Labs, emphasized the versatility of the Auto Harvest feature. He noted that it demonstrates the interoperability of the Cronos chain, allowing users to claim their yield farming rewards and decide whether to use them for other DeFi purposes on-chain or to cash them out to their prepaid card. This flexibility empowers Cronos users with greater control over their financial assets.

Yotei, Product Lead at VVS Finance, described the launch of Auto Harvest as a breakthrough in making decentralized finance more accessible to mainstream users. The feature seamlessly connects DeFi and CeFi, allowing VVS users to claim rewards and immediately allocate them for everyday spending. This integration reduces the complexity of managing yield farming, making DeFi more user-friendly for those unfamiliar with on-chain mechanics.

Auto Harvest rewards are automatically harvested daily once they reach a minimum threshold of $6. However, users retain the ability to manually claim from an Auto Harvest farm without any processing fee at any time. This integration for Crypto.com Prepaid Cardholders simplifies the process of off-ramping crypto and spending it in the real world, eliminating the usual multi-step delays.

The incorporation of Auto Harvest into the Crypto.com Prepaid Card bridges the gap between DeFi and real-world usability. It reduces the complexity of managing yield farming, making DeFi more accessible to a broader audience. This development is a significant step towards mainstream adoption of decentralized finance, as it allows users to seamlessly claim their rewards and convert tokens with zero friction.

VVS Finance is the leading DeFi protocol on Cronos, known for its user-friendly financial tools and a broad base of active users. It serves as the gateway to Cronos, empowering DeFi users to trade, stake, earn, and take control of their digital assets. With support for advanced order types and perpetual markets, VVS provides a diverse range of services within a single platform.

Cronos is a leading blockchain ecosystem adopted by more than 500 application developers and partners, representing an addressable user base of over 100 million people worldwide. Its mission is to make it easy and safe for the next billion crypto users to adopt self-custody in Web3, with a focus on Decentralized Finance and Gaming. The Cronos universe encompasses three chains: Cronos (EVM), Cronos POS, and Cronos zkEVM, each serving different purposes within the ecosystem.

Cronos ranks among the top 15 blockchain ecosystems, with over 6 billion dollars of user assets stored on the network. Since its launch in 2021, it has securely settled over 100 million transactions. Cronos Labs, the $100M startup accelerator, is focused on fostering innovation within the Cronos ecosystem.

Crypto.com, founded in 2016, is trusted by over 140 million customers worldwide and is an industry leader in regulatory compliance, security, and privacy. The company's vision is to accelerate the adoption of cryptocurrency through innovation, making cryptocurrency accessible to every wallet.