The 1 million user platform Crypto.com launches its fundraising platform “The Syndicate” this December. The event premiers with the EOS coin exchange listing on 17th December. As revealed by the company, the event is extra special. Because It is listing EOS at a discounted price.
The listing event gives CRO stakers an opportunity to pocket EOS worth 500,000 USD at a 50% discount. Details follow.
Currently, Crypto.Com brings six products to its massive userbase. The company’s new baby Crypto Exchange and “The Syndicate” have caught our attention for all the right reasons. In a tweet, Altcoin Buzz’s Shash called the deal “a crazy one” in a good way.
Maybe they made a mistake or this is a crazy deal.
Stake $CRO and get 20% interest PA and trading discount.
Also buy various coins like $EOS at 50% discount if you pledge CRO and you can sell them immediately!
— Shash (@shashxxx) December 9, 2019
With the launch of the Crypto Exchange, the company claims to have completed its ecosystem play. It says Crypto.com Exchange is the most secure and liquid exchange on the market. And it makes trading easy with its web interface, trading API, and Crypto.com App. Additionally, it offers an earning opportunity that goes beyond trading.
Earn up to 20% interest on CRO Staking
CRO Staking now attracts more benefits than ever. The CRO staked on the Crypto.com Exchange earns 20% interest per annum. This is not the same as staking on Crypto Earn, where you receive weekly interest payouts. With exchange, the interest payout is daily. And you can stake for a maximum of 6 months.
Discounted trading fee with CRO staking
When traders stake CRO on Crypto.com and pay the trading fees in CRO, they can avail up to 100% trading fees discount.
Discounted priority token allocation
The Crypto.com Exchange will be listing new projects via The Syndicate. The CRO holders will get priority access to these tokens at discounted prices. And it begins with the #7 coin on CoinmarketCap, the EOS being listed at 50% discount. Here is what you need to do before the discounted sale event goes live on 17th December:
- Login to Crypto.com Exchange with your Crypto App credentials;
- In case you are not a Crypto.com user, you will be required to Sign up on the Exchange;
- Buy CRO tokens and keep them in the Crypto.com Exchange Wallet;
- Go to Profile;
- Select Stake & Earn;
- Click Stake CRO;
- On the next screen input, the CRO amount you want to stake;
- Once you review the staking, the next screen will display the amount you staked and the days left for withdrawal.
You are all set to participate in the EOS coin listing event.
How does The Syndicate work?
EOS will be allocated at the time of distribution (19th Dec 2018 8:00 am UTC) against the amount of CRO you staked. The table below defines the maximum amount of CRO that a user can pledge toward this listing. And the maximum pledge amount depends on the CRO staked on Crypto.com Exchange. Refer to the table below:
Source: Crypto.com Exchange
What happens once the EOS listing is live?
The EOS sale on Crypto.com Exchange will go live on 17th Dec 6:00 am UTC.
Source: Crypto.com Exchange
- EOS subscription period (17th Dec 6:00 am – 18th Dec 5:59 am UTC)
The users would be required to pledge a certain amount of CRO to subscribe to EOS. This must exceed the “Maximum pledge amount” (refer to the table above).
It is not compulsory to use the staked CRO’s to subscribe for EOS coins.
EOS Distribution Time (19th Dec 8:00 am UTC)
The final EOS coin allocation will be done according to the table above. And the event participants will receive the allocated amount in their exchange wallets at the distribution time.
In case the total amount of CRO pledged by the participant exceeds $ 500,000, the below formula would be used to calculate the final allocation.
Currently, the Syndicate campaign excludes residents of the U.S., China, Hong Kong, and Bulgaria.