CronaSwap’s Golden era begins…..
Good Day CronaSwap community.
Now it’s time for cronaswap to rise in the cronos chain. Golden Crona is coming. We have been tirelessly working to bring you something that has never been seen before in the Decentralized Exchange space. Lets know more about $GRONA
What is $GRONA?
The Golden Crona token (most commonly known by its ticker symbol, $GRONA) was designed specifically to reward CronaSwap’s most loyal community members. GRONA enables holders not only to participate in governance, but to also take advantage of other valuable benefits including passive farming, exclusive pools, and access to special IFO allocations.
$GRONA Utility.
$GRONA is not only designed for utility but also makes $CRONA more deflationary through a unique burning mechanism.
- Passive Farming
If you hold GRONA in your wallet, you will passively farm rewards in the form of reflect fees proportional to the amount of GRONA held when other users transfer or stake CRONA.
- Governance
GRONA serves as the core governance token of CronaSwap. The ability of users to vote on CronaSwap governance proposals is determined by the amount of GRONA held in a user’s wallet at the time of a particular snapshot.
- Exclusive Staking Pool Access
CronaSwap offers dozens of special GRONA Staking Pools that allow users to stake GRONA to earn partner tokens at competitive APRs. These pools require users to stake GRONA instead of CRONA — we even offer a perpetual “Stake GRONA, Earn CRONA” pool that allows users to earn CRONA by staking GRONA.
- Exclusive IFO Access
GRONA holders gain access to exclusive token allocations for Initial FARM Offerings. All GRONA raised from the GRONA portion of an IFO is converted to CRONA and then burned, benefitting the CronaSwap ecosystem as a whole. Thanks to their exclusivity, GRONA IFO allocations also tend to be less oversubscribed than CRO allocations, offering GRONA holders a more competitive token allocation in the event of an oversubscribed IFO.
Decoding Burning mechanism which makes $CRONA deflationary.
GRONA can only be acquired by converting CRONA on the Golden Crona page.
Users incur a 28% burn fee in addition to a 2% reflect fee, resulting in a 30% reduction in tokens when going from CRONA to GRONA. This is beneficial to the CronaSwap ecosystem, as this decrease in tokens materially helps offset the inflation of CRONA, reducing the circulating supply of CRONA.
As a result of the burn and reflect fees, users receive 0.7 GRONA for every 1 CRONA converted.
To reward GRONA users for their commitment, GRONA is valued at 1.389x compared to CRONA within the CronaSwap ecosystem (Staking Pools & IFOs).
NOTE: You only realize the 28% loss of the burn fee when you leave GRONA by converting it back to CRONA.
EXAMPLE:
Let’s walk through an example. If A wanted to spend 100 CRONA to get the incredible GRONA, he would ultimately receive 70 GRONA. This is due to the 2% reflect fee and the 28% burn fee. REMEMBER you DO NOT get those fees back if you were to swap back to CRONA down the line. A could then stake those GRONA to earn other tokens, use them in upcoming IFO’s and eventually vote to contribute to the DEX future growth.
Deep drive into Reflect Fee
GRONA is a reflect token, with a 2% transfer fee. This means that any time CRONA is moved from wallet to wallet, staked into a Staking Pool, or otherwise transferred, 2% of the amount transferred is distributed proportionally to all other users who hold GRONA in their wallet (i.e., not staked in Staking Pools).
GRONA Treasury & Returning to CRONA
GRONA is ultimately backed 1:1 by CRONA, and can always be exchanged for CRONA. Since GRONA is valued at 1.389x CRONA within the CronaSwap ecosystem, users realize the difference in value between GRONA and CRONA only when converting GRONA back to CRONA.
NOTE: CronaSwap does not control or own the treasury supply! Each of the above mechanics is dictated exclusively by smart contracts. GRONA does not trade openly on any secondary markets, and cannot be purchased from any exchange other than CronaSwap. CronaSwap will never open a GRONA Yield Farm, as it is a derivative token of CRONA, which is fully liquid and tradable.
click here for more info regarding $GRONA
IMPORTANT — vecrona holders can still enjoy boosted farming rewards proportional for their locked $crona.
CronaSwap Official Social Links:
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Twitter: https://twitter.com/cronaswap
Discord: https://discord.gg/YXxega5vJG
Medium: https://cronaswap.medium.com/
Telegram Channel: https://t.me/cronaswap_channel
