- CrossFi has launched an EVM-compatible mainnet for scalable web3 payments.
- The network supports 10,000 TPS and seamlessly connects Ethereum assets.
- Governance uses MPX tokens, with fees averaging $0.02 per transaction.
Cross Finance, commonly known as CrossFi, has announced the launch of its EVM-compatible mainnet, marking an important step in the evolution of decentralized finance (DeFi) and web3 payment solutions.
The CrossFi Blockchain aims to provide a scalable, decentralized ecosystem designed to support high-volume payments and everyday transactions, bridging the traditional financial gap with the world of cryptocurrencies.
The launch of the CrossFi mainnet follows a successful testnet, conducted in collaboration with CoinList, which attracted over 1 million active wallets.
Blockchain CrossFi
The network infrastructure is built using the Cosmos SDK and Tendermint, enabling a modular design that supports up to 10,000 transactions per second (TPS).
This scalability makes CrossFi suitable for hosting payment applications that require high throughput, similar to Visa-level processing capabilities.
As an EVM-compatible network, CrossFi enables seamless integration with native Ethereum assets, which can be linked to its platform and used within its payment ecosystem.
Its security is enhanced by PCI DSS certification, a data protection standard recognized by major payment card companies, ensuring that the platform maintains industry-leading data transfer and storage practices.
Governance of the decentralized network is powered by the Mint Power (MPX) token, which is also used to facilitate transaction fees that average $0.02 per transaction.
Additionally, the Cross Finance ecosystem features a variety of financial instruments, including the CrossFi app, which enables services such as staking, lending, cryptocurrency exchanges, and P2P payments. Users can also leverage CrossFi xAPP to swap tokens, cross-chain assets, and mine liquidity.
To further enhance its ecosystem, CrossFi supports minting synthetic assets, hyper-collateralized stablecoins, and provides decentralized platforms for real-world asset trading.
By integrating multiple functions across its components, Cross Finance is set to democratize access to decentralized finance and facilitate the adoption of blockchain technology in global payments.
Network launch partners, including Alchemy and other validators, will play a key role in improving performance and maintaining decentralization.
With the launch of this mainnet, CrossFi is positioned to become a pivotal player in the evolving web3 financial landscape, enabling businesses and users to explore new possibilities in digital payments.