​Arbitrum’s Chronos reaches $217M TVL with staking, becomes 8t | Crypto Shake

​Arbitrum’s Chronos reaches $217M TVL with staking, becomes 8th largest DEX

Chronos set a new TVL milestone just seven days after its launch on the Arbitrum blockchain as DEXs draw traders amid regulatory uncertainty in the United States.

Decentralized exchange (DEX) Chronos set a new milestone on May 4, reaching $217 million in total value locked (TVL) at the time of writing, just seven days after its launch on the Arbitrum blockchain.

With the new TVL figures, Chronos ranks eighth among the largest decentralized exchanges, according to DefiLlama. In DeFi, TVL represents the funds held or staked within a protocol.

The TVL milestone was achieved during the first hours of the day after the protocol kicked off Epoch 1, which enabled Chronos (CHR) token emissions to liquidity pools. The initiation of Epoch 1 also allowed stakers to begin collecting rewards.