What is CronaSwap? Exploring the details of CRONA

• What is CronaSwap?
• The products CronaSwap currently offers
• Swap/Trade
• Liquidity Pools
• Yield Farming
• Launch Pool
• IFO
• Lottery
• Tokenomics
• Token details
• Token Allocation
• Token Release
• Release supply
• Deflation mechanism
• What is VeCRONA?
• Farm Boost
• Other benefits of veCRONA
• Roadmap
• Quarter 1, 2022
• 2nd quarter of 2022
• Other activities
• Project team, investors & partners
• Project team
• Investors
• Partner 
• Conclude

What is CronaSwap?

As mentioned above, CronaSwap is a DEX built on Cronos Chain , which has a similar model to Uniswap. CronaSwap exchange helps users trade and swap CRC-20 standard tokens easily on the Cronos network with high speed and low cost.

The products CronaSwap currently offers

Swap/Trade

CronaSwap allows users to trade without going through a centralized exchange. Everything you do on CronaSwap is transferred directly to the wallet.

Liquidity Pools

When you add liquidity to the pool, you will receive LP tokens. When someone does a token swap, a transaction fee of 0.25% will be charged. 0.17% will be returned to liquidity providers as a reward.

Example: If you add liquidity to CRO/CRONA, you will receive CRO-CRONA LP tokens. The amount of LP tokens you receive represents your share of the CRO-CRONA liquidity pool. You can always request your withdrawal by clearing that liquidity.

Yield Farming

CronaSwap Farms provides many farming opportunities for users. You can staking your LP tokens and in return will earn CRNA tokens. Crona incentivizes multiple liquidity pairs by offering liquidity providers the opportunity to staking their LP tokens in.

Launch Pool

This is a less resource intensive alternative to mining. It allows you to use your tokens to earn more tokens for free. Simply put, you lock your cryptocurrency to get a reward. From the outset, users can only staking crona in exchange for more crona . CronaSwap is planning to add more opportunities (token) in the future. But for now, you can only stake crona in exchange for crona .

IFO

IFOs are used as a type of fundraising event to help new projects raise capital through pre-sale events organized by decentralized exchanges. Investors can participate in pre-sale events and buy tokens of new projects.

The CronaSwap IFO acts as a project launch pad and allows you to explore opportunities to purchase tokens of new projects on Cronos. Possession of veCRONA is required to be eligible to participate in the basic IFO sale. Your VeCRONA will determine the maximum amount you can commit to the IFO event. 

Lottery

CronaSwap Lottery is a game of chance in which winners are chosen at random. Lottery's allows every user who has purchased at least one lottery ticket to receive a CRNA prize.

• Valid Lottery Token: CRONA
• Lottery ticket price: 2 USD
• Participating User Limit: You can only buy 500 tickets in one go
• Maximum number of tickets purchased at once: Unlimited
• Duration: 12 hours for one lottery
• A lottery ticket will have a random sequence of 6 digits (each digit ranges from 0-9)

Tokenomics

Token details

• Symbol: CRONA
• Blockchain: Cronos
• Token Standard: ERC-20
• Contract: 0xadbd1231fb360047525bedf962581f3eee7b49f
• Total supply: 300,000,000 VND
• Initial circulating supply: 49,950,000 CRONA
• Initial Market Cap: $7,992,000 
• Burn: Yes (Deflation mechanism)

Token Allocation

The initial amount will represent 16.65% of the total maximum supply and will be broken down as follows:

Token Release

• Team (Developers Fund): There is a contract for developers and a vesting period within 365 days. 
• Early Investors (Seeds or Private Sale): Tokens will be locked for 1 linear year and will be locked into timelock contracts. 
• Initial Liquidity: This token has a lock-in period of 365 days. 

Release supply

After the first minting process, the remaining 83.35% of the supply will be minted, following the CRNA emission schedule.

• In the first year, a total of 60 million tokens will be issued.
• After 365 days, this number will be reduced by 1/5, so a total of 48 million tokens will be issued in year 2.
• In year 3, a total of 38.4 million tokens will be issued. This will allow CRONA to reach 84% asymptote of 300 million tokens. 
• When the total supply reaches 300 million, this issuance will cease.

• Community treasury funds will be controlled by a multi-signature DAO.
• According to the classic SushiSwap model, 7.67% of the total tokens are earmarked for the community coffers to fund future development and expansion of CronaSwap. The treasury will be managed by the community once CronaDAO is established.
• Once CronaDAO is established, the issuance schedule, total supply, and protocol utility of the CRONA token can be modified through a decentralized governance vote.

Deflation mechanism

All deflation can be controlled through a decentralized governance vote.

• 0.05% per transaction made on CronaSwap .
• 20% of all purchased lottery tickets are used to burn tokens.
• 2% of each yield harvest in the Auto Compound Pool.
• Other products that will be marketed in the future may also consider a deflationary mechanism.

* The deflation mechanism is not yet active and will start after the DAO is set up.

What is VeCRONA?

veCRONA stands for CRONA Escrow Voting. They represent RONA tokens that are locked for voting. The longer you lock the CRONA token, the more voting power you have and the higher gain you will receive (mining reward).

• Every 1 CRONA locked for four years is equivalent to 1 veCRONA.
• You can vote to lock 1,000 CRONA for a year for a weight of 250 veCRONA.
• The amount of veCRONA you will receive depends on how long you locked your crona.
• Minimum lock time is one week. The maximum lock time is four years.

Farm Boost

• Users holding veCRONA receive farming rewards.
• Farmers holding veCRONA can get farming rewards up to 2.5x (locked for 4 years). 

Other benefits of veCRONA

1. Governance voting for various public activities in the community.

2. Accelerate Farm mining, allowing you to enjoy higher APR.

3. Vote to determine the weight of Farm Pool rewards.

4. Vote to determine the new project partner's Farm Pool and reward weight.

5. Airdrop rewards of project partners will be given priority to users who hold veCRONA.

6. Participate in IFO activities. The new version of the IFO will use veCRONA as the entry (which will be reflected in the IFO Base Sale).

7. Users holding veCRONA will be entitled to a portion of the buyback dividends in the IFO.

Roadmap

The roadmap lays out the planned features for CronaSwap . These are subject to change based on community feedback and governance discussions.

Quarter 1, 2022

• Release of CronaSwap V2: Upgrade UI user experience and add new Boost functionality (tokens tokens and mining rewards).
• CEX Listing:  Listed on MEXC Global on February 10, 2022.
• UI/UX: Reconfigure the user interface
• Launch new IDO launch board: To support Dutch auction, mass auction and classic public sale and introduce 2-3 projects to IDO. 
• Launch CronaSwap NFT.
• NFT: Earn NFT, NFT Marketplace, NFT Launchpad…
• Partnerships: Introduce more partnerships and strengthen strategic cooperation between projects.
• Project Incubation: CRONA will provide project incubation guidance and financial support.
• Team development: CRONA is targeting to hire more developers to increase build quality and speed.
• Governance: Start a new DAO governance mode and gradually transfer project management to the community.

2nd quarter of 2022

• Start farm administration: Users can vote on different protocol functions, such as improving farms for a higher emission allocation. This will incentivize users to provide liquidity to these farms.
• Multi-chain Deployment: Deploy a DEX for multiple chains.
• Limit Order: Provides a new trading method where you can buy or sell at a specific price.
• Develop more partnerships.
• More plans to list CEX.
• Full community DAO administration mode.
• Lottery: Start playing the lottery
• GameFi: Simple GameFi Referral and Play for Money.
• Partners staking: Stake xCRONA to earn partner tokens.

Other activities

• Marketing: Expand marketing (media & influencers)
• Listing on CEXes: Listing on major crypto exchanges.
• Listing on CoinGecko: Listing as an exchange on CoinGecko.
• Listing on CoinMarketCap: Listing as an exchange on CoinMarketCap.
• Audit: The smart contract is audited by Certik.
• Governance: Full on-chain governance with xCRONA as the governance token.
• Sponsorship Program: Strategically partnering with a number of high-quality projects to accelerate Cronos' growth.
• DAO: Ownership of Masterchef is transferred to the DAO on-chain controlling pool weights, RONA emissions and the decision on adding new farms.

Project team, investors & partners

Project team

Updating…

Investors

Information about investors has not been officially announced. However, because Cronos is a system built and supported by Crypto.com - one of the largest exchanges currently, plus CronaSwap is one of the AMM DEXs that play an important role for the Cronos ecosystem, so It is impossible to rule out the possibility that Crypto.com will also financially support the project. 

Partner 

Some of CronaSwap's partners are: AnySwap, Adamant.Finance, Zeus Finance, Crystal Finance... Among them, AnySwap - the first decentralized cross-chain exchange.

Please refer to the project information channels here:

Twitter | Telegram 

Conclude

The current model of CronaSwap will be similar to many other AMM DEX exchanges. Basically, the scale is still small and the features have not been developed much. 

However, the project is still trying to add more farming or liquidity options so that users can customize their trading strategies accordingly. Above is the latest information about CronaSwap and the project's token. How do you guys rate this project, please share with TraderH4.

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