Update: Crypto.com Announces New Public Chain with Airdrop to MCO Token Holders
<HONG KONG, November 20, 2018> Crypto.com today announces the Crypto.com Chain — a high-performing native blockchain solution that will drive cryptocurrency adoption globally by enabling instant crypto payment transactions.
Kris Marszalek, Co-founder and CEO of Crypto.com said: “Increasing the number of cryptocurrency users from 50m to 500m and more requires cryptocurrency utility beyond speculative trading. The Crypto.com Chain will allow anyone to pay and be paid in crypto, any crypto, anywhere, for free. It’s the critically missing piece of blockchain infrastructure that will help drive the world’s transition to crypto.”
“Our team has worked incredibly hard on the new public chain and we’re now ready to share it with the community as we prepare for a phased rollout in 2019. I encourage the entire community to go through both the technical whitepaper and the main whitepaper released today, laying out our ground-breaking technology and highly effective go-to-market strategy in detail.”
The development of the Crypto.com Chain also includes the creation of the Crypto.com Chain Token (CRO) — that will enable cross-asset intermediary currency settlement.
“Crypto.com has been very fortunate to have support of a very passionate and highly engaged community from day one. To recognise the community’s central role in our development, we’re announcing a CRO token airdrop to all eligible MCO token holders in our wallet.”
For example, for every 1000 MCO held at December 7th, 2018 at 8am UTC in the Crypto.com Wallet & Card App, eligible users will receive 5276 CRO tokens. In total, 60 such monthly CRO airdrops to MCO token holders will be conducted over the period of 5 years.
The CRO token will begin trading on Wednesday, 21th November 2018, at 3pm HKT on Digifinex Exchange. Digifinex is world’s 4th largest exchange by trading volume as per Coinmarketcap.com. The token will subsequently be listed on a number of other exchanges.
For more information on the Crypto.com Chain, the CRO token and the whitepaper which includes the eligibility criteria for the CRO airdrop, please go to: www.crypto.com/chain
Eligibility — Crypto.com Wallet App approved users except citizens and residents of Hong Kong SAR, the People’s Republic of China, the Republic of Singapore, Switzerland or the United States of America.
Update: Following input from the community, we are relaxing the airdrop allocation rules so that you will no longer lose your entire allocation of CRO by selling MCO during the 12 months holding period:
- 100% or More Holding: Continue to hold 100% (or more) of snapshot amount of MCO over the 12 months and receive the full (100%) allocation of CRO.
- Proportional Reduction to 50%: Sell up to 50% of your MCO from snapshot date and still receive a proportionally reduced quantity of CRO allocation based on the lowest level held during the 12 month period. For example — If you sell 20% of your MCO holdings, during the 12 months, you will received an 80% allocation of CRO.
- No Allocation-More than 50%: Selling more than 50% of your MCO holding during the 12 months will result in total loss of your CRO airdrop allocation.
About Crypto.com
Crypto.com is the pioneering payment and cryptocurrency platform with a mission to accelerate the world’s transition to cryptocurrency by creating intuitive products to bring their vision of cryptocurrency in every wallet to life. Crypto.com is headquartered in Hong Kong. For more information, please visit: www.crypto.com
