We would like to present our next upcoming IFO with Krypton Protocol! We will also be releasing a new version of IFO. 🎉 Please read below to find out all about Krypton Protocol and how to participate in our new version of IFO.
What is Krypton Protocol?
Krypton Protocol is a decentralized reserve currency platform on Cronos chain. The token of Krypton Protocol is KRON. Unlike DAI or USDT which is pegged to the value of the U.S. dollar, KRON’s reserves are crypto assets held by the Krypton Protocol Treasury.
KRON is backed by USDC, not pegged to it. This allows the KRON token to achieve a stable floating value, while never falling below the value of its backed assets. The token price is designed to equal (1 USDC + Premium), with “premium” reflecting market value.
Krypton is also not just your regular DAO, it is so much more than that — Launchpad, NFT marketplace, Gamefi, etc.
Krypton Protocol is currently undergoing an audit by Paladin.
What are the unique features of Krypton Protocol?
Krypton Protocol is an optimized fork of OlympusDAO. However, there are a few key operational differences designed to offer a more advantageous investment strategy for the community.
1. It will be available on Cronos. A typical transaction over Ethereum mainnet can cost up to $200 USD. However, a typical transaction over CRO costs around 50 cents. This allows the treasury to auto-compound at much more frequent intervals, significantly increasing the potential APY percentage versus mainnet.
2. Krypton Protocol utilizes a different fee recapture ratio. 10% of treasury will be used for buyback and token burn.
3. The treasury will be spending 5% of its reserves to invoke Metcalfe’s Law and leverage an industry-leading marketing budget.
Read more about Krpyton Protocol here.
Other information about Krypton Protocol
Website: https://kryptonprotocol.com/
Twitter: https://twitter.com/KryptonProt
Telegram: https://t.me/KryptonProtocol
New version of IFO
Previously, to join IFO, you will require IFO credits. For our new version of IFO, you will no longer need IFO credits. We will now use veCRONA as the entry condition to participate in the base sale.
A new liquidity lock function will also be added, and the financing funds will be injected into our DEX according to the project party’s requirements with a certain proportion of initial liquidity locked on our DEX.
👉 Users who participate in the IFO base sale must lock their CRONA tokens as soon as possible and a certain amount of CRONA before they can obtain the sales allocation of the base sale.
👉 Users can only use USDC to commit to the IFO sale.
👉 The maximum amount each user can submit is: veCRONA holdings (as of snapshot timing, e.g. 2022.2.09 12:00:00) x $10.
For example, if user A holds 50veCRONA at 2022.2.09 12:00:00, then his maximum commit amount is $500.
👉 All other IFO conditions remain unchanged.
❗️To understand more about veCRONA, please click here.
IFO sale details:
No. of tokens on sale: 100,000
Funds to raise: $1,000,000
Token price: $10
Token allocation for basic sale: $300,000 (30%)
Token allocation for unlimited sale: $700,000 (70%)
CRONA token burn: 30% of raised funds
⚠️ Note: For the Krypton Protocol IFO, users can commit maximum of $1,000 in the IFO basic sale. For unlimited sale, users can commit any amount they want.
The IFO for KRON will be live on 12 Feb 2022, 2pm UTC to 13 Feb 2022, 2pm UTC.
If you have any questions, feel free to reach out to us on Telegram or Discord for support. Our team is always ready to help!
About CronaSwap
CronaSwap is the first decentralized exchange platform on the Cronos Chain and the lowest platform transaction fees (0.25%). We are a decentralized exchange platform for swapping CRC-20 tokens on the Cronos Chain network. This network guarantees superior speed and much lower network transaction cost.
CronaSwap aims to become a benchmark for DEX platforms. We want to take up the mantle in becoming the leading DEX platform on the market for token swaps.
Please follow the official social media:
Telegram : https://t.me/cronaswap
Twitter: https://twitter.com/cronaswap
Discord: https://discord.gg/YXxega5vJG
Medium: https://cronaswap.medium.com/
Telegram Channel: https://t.me/cronaswap_channel
