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CronaSwap Launches AMM & DEX on Cronos

The Cronicle NewsBy
cronaswap featured

CronaSwap

CronaSwap is a decentralized exchange platform for swapping CRO-20 tokens on the Cronos Chain network. This network guarantees superior speed and much lower network transaction cost.

They are highly committed to providing true value, fairness, and innovation to decentralized finance through our high-quality products and services. CronaSwap is fast, secure, and anyone can swap and earn tokens.

Tokenomics

CRONA is the token that powers our AMM+DEX ecosystem. Earn CRONA from farms and launched pools, win it in the lottery, or buy it on the exchange, then explore its use cases:

  • Stake it in launched pools to earn free tokens.
  • Use it in yield farms to earn more CRONA.
  • Buy lottery tickets in the CronaSwap Lottery.
  • Vote on proposals relating to the CronaSwap ecosystem

CRONA Token

  • Token Symbol
    • CRONA
  • Total Supply
    • 300 000 000
  • Initial Circulating Supply
    • 49,950,000 CRONAs
  • Initial Market Cap
    • $7,992,000 (LISTING PRICE $0.16)
  • Burn
    • Yes (* Deflationary Mechanics)
  • Emission
    • ~1.90 per second (~ 164383.5 CRONAs/day)

Out of these 49,950,000 tokens, 3,000,000 CRONA tokens will be used to secure the initial liquidity. This is done to make sure users can make exchanges and experience all the features of the platform from the very beginning.

Initial Supply Allocation

CRONA Token Burning

What Is Token Burning?

Token burning is the process of permanently removing coins from circulation, thereby reducing the total supply. Token burning is usually performed by the development team behind a particular cryptocurrency asset. It can be done in several ways, most commonly by sending the coins to a so-called “eater address” or “dead address”. Its current balance is publicly visible on the blockchain, but access to its contents is unavailable to anyone.

Why Is Token Burning Important?

There are several benefits of a coin burn and they are as follows:

Increase in the value of the token

This is probably the most well-known benefit of a coin burn. Coin burn reduces the overall circulation of the token, thereby the overall supply decreases. It might potentially result in the increase of the value of the token. The constant burning of the coin helps to keep a steady value.

A steady value of the token

Constant token burning helps to keep a steady value of the token and it also bets for a long-term price increase. Coin burn can potentially make the holder’s token more valuable than it was before the burn.

How Does Token Burning at CronaSwap Work?

The practice of burning may involve the project’s developers buying tokens back from the market or burning parts of the supply already available to them. Here, at CronaSwap, there are two deflationary mechanisms in place.

  • All the rewards from accounts with no referrer are used for CRONA token burning.
  • 0.05% of the trading fees are used for buying the CRONA tokens back from the market and burning them.
  • CRONA Auto Compound performance fee is used for token burning.
  • 20% from all the purchased lottery tickets are used for token burning.

RoadMap

This roadmap is not strictly time-based and will be followed in a flexible manner we will deliver these developments as fast as we can.

Phase 1: Cassini testnet Launched

Entering the second phase of Cronos testing (Cassini), we redeploy to Cassini for related test tasks.

  • Deploy smart contract on Cassini network.
  • Publish DEX app on Cassini network and launched test.
  • UI/UX Revamp (In progressing).
  • Start the airdrop seed user test plan and make the airdrop rules.
  • Make the marketing plan and launched Private Sale.

Phase 2: Cronos mainnet Launched

When the Cronos mainnet network started, we start performing the following tasks.

  • Redeploy the new smart contract on Cronos mainnet.
  • Rebuild all front interface programs and change to the mainnet.
  • Launched some products (Swap, Liquidity) on the mainnet.
  • Started Farms staking for Liquidity provider after 3 days when main product launched.
  • When we launched the dapp, we starting pre-sale activities and sell tokens.
  • Started first airdrop activities after 2 week when dapp launched.
  • Construct CronaSwap Analytics.
  • Construct Lottery game.
  • NFT integration.
  • Limit orders for swap.

Phase 3: Marketing & Promote, Other plan.

  • Design CronaSwap landing page.
  • Listing as exchange on CMC & CoinGecko.
  • Markering expansion (media & bloggers).
  • Contract security audit (In progressing).
  • Community governance.

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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