CrossFi launches EVM-compatible mainnet for scalable Web3 payments. The network supports 10,000 TPS and seamlessly bridges Ethereum assets. Governance uses MPX tokens with an average fee of $0.02 per transaction.
Cross Finance (commonly known as CrossFi) has announced the launch of its EVM-compatible mainnet, marking a significant step in the evolution of decentralized finance (DeFi) and Web3 payment solutions.
The CrossFi blockchain aims to bridge the traditional financial and crypto worlds, providing a scalable decentralized ecosystem designed to support high-volume payments and everyday transactions.
The CrossFi mainnet launch follows a successful testnet that was conducted in collaboration with CoinList and attracted over 1 million active wallets.
CrossFi blockchain
The network infrastructure is built using the Cosmos SDK and Tendermint, allowing for 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 power.
As an EVM-compatible network, CrossFi enables seamless integration with Ethereum native assets and can be bridged to the platform and used within the payments ecosystem.
Its security is enhanced by PCI DSS certification, a data protection standard recognized by major payment card companies, ensuring the platform maintains industry-leading data transmission and storage practices.
The governance of the decentralized network is powered by the Mint Power (MPX) token, which is also used to facilitate transaction fees averaging $0.02 per transaction.
Additionally, the Cross Finance ecosystem features a variety of financial tools, including the CrossFi app, which enables services such as staking, lending, crypto-fiat exchange, and P2P payments. Users can also leverage CrossFi xAPP for token swaps, cross-chain asset bridging, and liquidity mining.
CrossFi further strengthens the ecosystem, supporting the minting of synthetic assets, over-collateralized stablecoins, and providing a decentralized platform for trading real-world assets.
By integrating multiple capabilities across its components, Cross Finance plans to democratize access to decentralized finance and accelerate the adoption of blockchain technology in global payments.
The network's launch partners, including Alchemy and other validators, will play a critical role in optimizing performance and maintaining decentralization.
This mainnet launch makes CrossFi a pivotal player in the evolving Web3 financial landscape, enabling businesses and users to explore new possibilities in the digital payments space.
