ClubCRO is a conglomerate who share a belief that everyone should have control over their money, data and identity. They understand the mission of CRO within the context of mass adoption and the wider financial landscape. The following information comes directly from their whitepaper.
Mission
To give the community the rewards which they have come to expect from Crypto.com through merging various aspects of decentralized infrastructure. We combine the decentralized finance aspect of the Crypto.org chain and proof of membership through on-chain NFTs to create a community who can live within crypto with confidence that the benefits of membership will not be stripped away from them, will not be reduced and will hold its value. ClubCRO will be limited to 1,500 members.
Why does it exist?
Why does ClubCRO exist? The ClubCRO team member with the least experience in crypto has only been in the crypto sphere since 2016. In our discussions about the mistakes we have made in our formative years as crypto enthusiasts and investors we all agreed that if we were a part of a community which helped and advised us from a place of experience on how to react to particular market events, we would have made substantially better decisions. We had planned our pathway like any investor should…but between crypto projects not living up to their promises and market conditions testing even the most experienced investors, plans “had to change”, or so we thought. We found that if we had stuck to our initial plans rather than reacting to market turbulence and projects not hitting key milestones, it would have worked out to everybody’s benefit. When we had the idea for ClubCRO, one of the major considerations was that the rewards to CRO holders through the Crypto.com app, namely the cashback and staking reward for VISA Cardholders, had been cut. The Crypto.com business model demanded reductions in Earn percentages, staking rewards for Visa cardholders, reduction in cashback for cardholders and the introduction of tiered earn levels and near non-existent returns from the Syndicate programme.
What ClubCRO do not have is the substantial overheads and commercial obligations which Crypto.com have. We have designed our project in CRO rather than in USD, allowing us to implement our key features in a sustainable and long-term manner.
Due Dilligence
We have invested a lot of time and effort into our research into which chains are suitable for this type of project. We are in the process of setting up a validator node and putting the necessary security measures around our node, including dual sentries. On top of just the infrastructure, we lead by example by having our own CRO staked on our validator. After spending a considerable amount of time doing our due diligence on each blockchain, our minds were made up for us by the introduction of CRO to the Cosmos SDK and the Tendermint Core consensus engine underneath. Specifically, the Cosmos SDK is a framework that facilitates the development of secure state-machines on top of Tendermint. In particular the utilization of different SDK modules to facilitate the special features of the Crypto.org Chain. This implementation and integration of previously existing and newly created blockchain technology and the ease with which Crypto.com has pivoted (from a blockchain perspective) give us nothing but faith in the capabilities of what this ecosystem can achieve.
Obstacles
It has been hard to ignore the way in which Crypto.com has cut rewards to its users in the last few months. In all honesty, it had to happen. The Crypto.com business model was one of onboarding into an ecosystem which offers the user everything they could ask for. While this was sustainable for a few million users, it will become unsustainable long before they reach their goal of 100 million users. As such, we at ClubCRO decided to learn from Crypto.com’s success and mistakes. Limited Memberships. Create a Membership base where the results and rewards are sustainable with no on ramping of new members. CRO’s integration into the Cosmos SDK and the Tendermint Core consensus engine have allowed this to happen.
When crypto assets are booming, they attracted plenty of investors and have emerged as a new funding channel for cryptocurrency projects. As a result, investors and developers both focused on securing fast financial gains instead of helping tokens mature and become a new kind of currency for everyday life. Today, the cryptocurrency ecosystem is dominated by investors. The companies and foundations behind cryptocurrency projects offer tokens in a way that ensures investors can maximize their gains, with a focus on raising as much investment as possible.
Under such conditions, project teams are pushed to focus more on generating money-making news for investors rather than developing and maintaining more necessary products. The success of a project is not determined by attracting users or facilitating services; instead, token price and market capitalization have become the measure of success. Because of these issues, the people who most contribute to the ecosystem through their use of tokens and dApps have been marginalized, and consequently tokens have failed to develop significantly as a real-life technology.
We have taken the exact opposite approach, develop and launch during market distress. Ultimately, ClubCRO will grow with CRO. As we have designed entrance to the project around the dollar value of CRO, but the Membership rewards in CRO during a time of unfavourable market conditions, this allows ClubCRO members security around their Membership and an upward trajectory of the USD value of rewards, while the number of CRO rewards remains stable.
Benefits of Joining
Promotional Giveaway
With our initial Promotional Giveaway, 15 Members will instantly 2x their ticket price. Like all of our draws, this will be carried out by a provably fair random number generator. Many investors have come to the Crypto markets not just for the tech. Some are here in search of higher than average volatility and returns than traditional markets. With that in mind and given how new both the Cronos and Crypto.org chain are, only the high intensity trader/NFT investor have realised such gains in this ecosystem. We see it as an opportunity for ClubCRO to make this happen for 15 of our Members.
Weekly Draws
The ClubCRO weekly draws will take place each Monday at 9pm GMT. The reward pay-outs for each draw will be processed within 24hrs of the draw taking place.
The Weekly Prizes draws are a substantial amount of CRO, and in time given anuplift in the value of CRO and the Crypto market as a whole, should also represent a substantial FIAT amount. Below is a diagram of how the project’s validator node is capable of sustaining this level of pay-out on a weekly basis. As a result of the tendermint SDK chain we are not just in control of the
ClubCRO validator, but also when rewards are paid. As a result, the stakingrewards from the entire project are being paid to the winners. Every. Single. Week. This offers members the opportunity to 1.5x, 1x, and 0.5x their investment on a weekly basis.
Guaranteed Buy-Back
Our Guaranteed Buy Back feature is what sets us apart from everyone else. If you have not won any prize in ClubCRO, be it a weekly prize or the initial promotional giveaway, we will buy your membership back from you for the price in CRO which you initially minted the Membership NFT for. Therefore, should the value of CRO double in this 4 year period, the value of your initial investment has doubled. After the initial 4 year lock in period, we will reopen up a buy back window every 2 years.
Socials
- Twitter: https://twitter.com/ClubCro
- Website: https://clubcro.fi/
- Discord: https://discord.com/invite/4tk8XREnek
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