In preparation for our upcoming US card launch, we’re also updating the terms of CRO Token Airdrop.
We have been performing CRO Token Airdrops on a monthly basis since December 2018, in line with the CRO Whitepaper. These airdrops served to recognize our longstanding MCO community and further expanded the CRO network. As set out in the CRO Whitepaper, 10% of all CRO created was set aside for airdrops to MCO Token Holders and for community development (“Community Development Allocation”). Going forward, the remaining CRO from the Community Development Allocation will solely go to community development.
- Conclude CRO airdrop to all MCO Token Holders effective June 25th, 2019
- All CRO Tokens already allocated and distributed via airdrop since December 2018 are unaffected by this announcement and will be unlocked on schedule to eligible users
- All CRO Tokens remaining in the Community Development Allocation will continue to be released as per the original schedule in the CRO Whitepaper.
- If you start depositing MCO into Crypto Earn or Crypto Credit, you will not lose the airdrops you have accumulated for the past 7 months. The CRO Tokens that are already allocated to you will not be affected.
We will continue to monitor market developments, with the support of our legal and other professional advisors.
Airdrop distribution & transferability:
The CRO Airdrop snapshot takes place on the first day of every month (started Dec 2018, ended June 25th, 2019), at 8:00am UTC.
Your monthly airdrop allocation will be distributed in the first week after an airdrop snapshot; and will be locked for a period of 12 months.
After 12 months, your airdrop allocation will be released into your Crypto.com App based on the following rules (updated):
CRO Airdrop Infographic - In order to help further explain the rules of the monthly airdrops and results in a number of scenarios, please find this Infographic (Click and open in a new tab to see full size).
MCO tokens held by Crypto.com will not be eligible for the CRO airdrop. All unallocated CRO airdrop tokens will be used for Community development activities.