MCO Swap Program

Bullish or Bearish: "Crypto.com Combines MCO with CRO as "One Utility Token"


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On August 4, 2020 , Crypto.com announced they will be integrating MCO functionalities with CRO (crypto.com coin) utilities and technology in what they call "one stop shop" token to allow comprehensive crypto.com ecosystem. The event was called " MCO Swap Program" where holders who have stake or owns MCO tokens to swap between August 3, 2020 to November 2, 2020 UTC and can only be done on crypto.com app. 

The purpose of the said event is to combine tokens functionalities rather than having two separate tokens. With this integration, all attributes of MCO token will be retained and will be enhanced with CRO combination as the main token for the ecosystem. For you to do the swapping, all you have to do is to go open your crypto.com app and you will see a swapping banner where you can click and proceed with the process.

If you are crypto.com user, you will noticed a declining value of MCO as the company focuses on CRO marketing and development. To determine how much you will get with the swapping, crypto.com implemented a fixed value for MCO to CRO swap program. Check it below:

  • 1 MCO = (30-day VWAP of MCO/30-day VWAP of CRO x CRO)
  • (30 days between July 4, 2020 to August 2, 2020, both dates inclusive)

MCO to CRO Swap Rate: 

  • 1 MCO = 27.6439 CRO

Though for early holders who will swap there tokens, there will be additional 20% bonus of the amount swapped for the swap program.  This early swap bonus will be credited on crypto.com exchange and will be stake for 6 months and will also yield interest. The validity of the early bonus must be done on the given timeframe of swapping which should be August 3 - September 2, 2020 UTC.

So with the fixed rate for the swapping and additional 20% bonus. You will get:

  • 1 MCO = 33.1726 CRO

For old users with MCO staked for card tier, they will retain there benefits and perks as long as they keep it under staking. As crypto.com announced they will be focusing on CRO, card tier requirements is also updated. Check it below:

CRO New Staking Requirements

You can watch this video how to get your MCO card. As for myself, I am a Jade Green Holder which allows me to have free netflix, spotify, airport lounge and 3% cashback for every purchase. And I am pretty satisfied with my card and planning to upgrade for icy white in the future. And with this integration, I do believe this will be bullish for CRo in the long run as investors wont be divided as there is only one token that will represent crypto.com ecosystem. 

How to Join: Use my referral link https://platinum.crypto.com/r/9czaapbq5b to sign up for crypto.com and we both get $50 USD :)

source: blog.crypto.com

 

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Kenneth Agudo
Kenneth Agudo

I am a huge believer of cryptocurrency adaptation in the future payments system. I create videos, write articles and hold altcoins. #CRO #ERD #VET


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