Crypto.com, a cryptocurrency payment and financial platform, announced on the 23rd that it will burn 70 billion CRO tokens prior to the release of the Crypto.com chain mainnet, which will be launched on March 25.
The Crypto.com chain is characterized by high speed and low fees, and developers can easily develop various applications such as payment, decentralized finance, and NFT (non-replaceable token).
Crypto.com said, “Through this token burning and mainnet launch, we are able to build a completely decentralized network.”
With the launch of the mainnet, Crypto.com provides a 20% annual interest rate reward to staking participants so that many users can participate in the network. CRO holders can stake their CRO and receive rewards through Crypto.com DeFi Wallet.
Kris Marszalek, Chief Executive Officer of Crypto.com, said, “This CRO token burn is the largest in the history of cryptocurrency. More partners will join the Crypto.com ecosystem in the future.”
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.