The airdropped CRO tokens have a one-year lock-up period. The amount of CRO tokens received was dependent upon the MCO balance in the user’s wallet over the previous twelve months. From December 2018 to June 2019, about 170 million CRO tokens were airdropped to MCO token holders. To get access to premium MCO Visa cards that have exclusive benefits like 2% rewards, users must stake a certain amount of MCO tokens in the App for at least 6 months.Ī total of 100 billion CRO tokens will be issued.
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MCO Visa Cardholders can spend and withdraw the fiat equivalent of their cryptocurrency online and offline at all Visa approved merchants.
In addition to the Chain, the project’s ecosystem also includes the Wallet App (to buy, sell, and send cryptoassets) as well as the MCO Visa Card (to use cryptoassets in the real world). Before, Marszalek was the CEO of Ensogo and BEECRAZY, helping both companies grow from $0 to over $100 million in revenue. According to the website, the “ Chain will be a high performing native blockchain solution, which will make the transaction flows between crypto users and merchants accepting crypto seamless, cost-efficient and secure.”Ĭ (formerly called Monaco) is a Hong Kong-based company founded in 2016 by Kris Marszalek.
All participants using the Chain are required to use CRO tokens to pay for block transaction fees. The CRO token is the native token of the Chain and will primarily be used for intermediary currency settlement across various assets.
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