Cryptocurrencies

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What is the issuance and circulation of CRO coins?

CRO coins, initially issued through an ICO in 2018, have diversified use cases within the Crypto.com ecosystem, including staking, payments, discounts, and lending.

Oct 04, 2024 at 06:24 am

1. Issuance of CRO Coins

Crypto.com Coins (CRO coins) were first issued in November 2018 through an initial coin offering (ICO). The ICO raised a total of $26.2 million from the sale of 250 million CRO coins.

2. Distribution of CRO Coins

The total supply of CRO coins is 30 billion, with the distribution as follows:

ICO Allocation: 250 million (0.8%)
Private Sale Allocation: 9.5 billion (31.7%)
Community Allocation: 7 billion (23.3%)
Company Allocation: 6 billion (20.0%)
Ecosystem Grant Allocation: 3.3 billion (11.0%)
Exchange Liquidity Allocation: 1.5 billion (5.0%)
Staking Rewards Allocation: 2.5 billion (8.3%)

3. Circulation of CRO Coins

As of January 2023, there are approximately 23.4 billion CRO coins in circulation, with the remaining 6.6 billion coins being held by the company and other stakeholders. The circulating supply of CRO coins is expected to increase over time as new coins are released from staking rewards.

4. Use Cases of CRO Coins

CRO coins have several uses within the Crypto.com ecosystem, including:

Staking: CRO coins can be staked to earn rewards and participate in the governance of the Crypto.com Chain.
Payments: CRO coins can be used to make payments for products and services on the Crypto.com platform.
Discounts: CRO coin holders receive discounts on trading fees, crypto purchases, and other services within the Crypto.com ecosystem.
Crypto Earn: CRO coins can be deposited into the Crypto Earn program to earn interest.
Crypto Lending: CRO coins can be used as collateral for crypto loans.

5. Future Developments

Crypto.com is continuously working to expand the use cases and adoption of CRO coins. Future developments may include the integration of CRO coins with additional blockchain ecosystems, the launch of new products and services that utilize CRO coins, and increased adoption by merchants and users.

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