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CroMoon: Taking Cronos To The Moon

The Cronicle NewsBy
CroMoon

The gossip and talk about so called “memecoins“ never sleeps these days. Some ideas start as a meme and end as a meme, but others actually become powerful giants in the crypto space. What started with Dogecoin is now splitting in many different directions, for example frictionless yield farming and cold staking protocol tokens, that became famous and well know through the SafeMoon project. Every blockchain has it’s own SafeMoon, built by a great community: so does the Cronos Chain now. 

CroMoon ($MOON) token

CroMoon is the premier frictionless yield farming and cold staking protocol functioning on the Cronos blockchain that isolates and aims to solve all the prominent security, privacy, scalability, and speed issues facing today’s modern cryptocurrencies. The CroMoon ecosystem (psssst! hint) will do this by adopting the Cronos chain in order to provide a more seamless user experience. 

CroMoon’s Community & MOONDROPS

The team at CroMoon is trying to build something unique. Instead of posting endless memes, cameos, or senseless roadmaps, they plan to engage their community in the long term, bringing an incentive to actually hold the $MOON token. The team already started several giveaways, worth 800$ in total, and plans to reward its community with so called MOONDROPS. Word on the street is they did a snapshot for something, also they talked about NFTs and airdrops. CroMoon trys to provide value to it’s meme. Furthermore they are holding weekly burn events. (more below)

Tokenomics

CroMoon is an CRC20 token on the Cronos chain with a total supply of 1.000.000.000.000.000. It works like all other CRC20 tokens but the team included some additional features in its transfer function that are unique in the original smart contract. These features are a Transaction Fee, Reflection, and Liquidity Pool (LP) Acquisition.

  • Transaction Fee — every transaction incurs a 10% fee
  • 5% Reflection — Holders earn passive rewards through static reflection as their balance of CroMoon grows
  • 5% Liquidity Pool Acquisition — A percentage of all transaction fees is added to the liquidity pool. To keep the liquidity pool balanced 2.5% is added to the CRO token and 2.5% is added to the CroMoon token. The recipient of the LP units is the CroMoon team. To keep the funds safe we will add half of the 5% Liquidity Acquisition to the Liquidity Locker every week. The other half will be used for our Afterburner Effect (explained below)
  • CroMoons team plans to combine classical reflection SafeMoon tokenomics with their own improvements.

Afterburner

Once a week, half of the LP tokens produced by the contract will be withdrawn into equivalent portions of CroMoon and CRO. The CroMoon portion will be burned, and the CRO will immediately be used to purchase CroMoon from the market. The purchased CroMoon will then also be burned.

AFTERBURNER events will happen once a week on an entirely random basis and will be announced only after the above process is fully complete in order to prevent any manipulation or timed buying/selling.

The Afterburner program will simultaneously induce community hype whilst creating a significant positive price action and providing a burn outlet for the contract-generated LP tokens.

Blackhole

Shortly after launch the team burned a substantial amount of the supply. By doing so it create a ‘blackhole’ which will, thanks to the reflection mechanism, suck CroMoon tokens out of the supply and burn them. This turns CroMoon into a deflationary token, because every transaction some CroMoon gets send to the burn wallet.

Roadmap (phases)

To learn more about the project you can check their socials, there is also a little roadmap on their website, but the team told us, that phase 2 will be revealed during the next few days, also they told us that they will release more info on the next MOONDROP very soon.

Socials

Disclaimer: This is a paid article, TheCronicle does not endorse and is not responsible for, or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. TheCronicle is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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