2021-07-30 11:27:00
Crypto com Coin (CRO)
In the last two months, Crypto com released three new products: Crypto org Chain, its derivatives exchange, and upgrades to its DeFi wallet. These should bring more users to its site and accelerate overall crypto adoption.
Crypto org Chain is a public, open-source, and permissionless blockchain that utilizes the Cosmos SDK and has CRO as its native currency. It’s designed to accelerate mass adoption of payments, DeFi, and NFTs.
Users can migrate their current CRO tokens to the new, native CRO token on Crypto org Chain. The user-friendly CRO migration tool, along with Crypto org Chain staking, will be available via the Crypto com DeFi wallet.
We’ll provide instructions for migrating CRO tokens when the migration tool is ready.
Crypto com’s derivatives platform lets traders speculate with leverage up to 50x on BTC. This should bring in a flood of users, which leads to more fees for Crypto com… And which should also trickle down to token holders.
And third, its new DeFi wallet gives millions of individuals the benefits of DeFi, such as quickly swapping DeFi tokens and earning fees from staking. At the same time, it’ll leave full control of private keys with users and protect the tokens held in the wallets with multilayered security.
On top of this, Crypto com is working to increase decentralization of the network. By burning tokens (taking them out of circulation), this ensures voting power is less concentrated.
In February, it burned 59.6 billion CRO tokens, and it plans to burn a further 10.4 billion over the coming months. In addition to making the network more decentralized, this has another benefit. As few tokens remain in circulation, we anticipate higher token prices ahead due to constant demand from Crypto com users.
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