On March 17, CRODO.IO announced a new strategic partnership with CronaSwap. So, let’s find out what kind of project this is and what are the benefits of this partnership?
CronaSwap is the first decentralized exchange platform in the Cronos Chain network, offering the lowest transaction fees (0.25%). You can easily exchange CRC-20 tokens on the Cronos Chain network, which guarantees superior speed and much lower transaction costs.
CronaSwap aims to become the benchmark for DEX platforms. CronaSwap wants to take on the role of the leading DEX platform in the token exchange market.
CronaSwap is committed to providing true value, fairness and innovation for decentralized finance through our high-quality products and services. CronaSwap is fast, secure, and everyone can easily exchange and earn tokens. CronaSwap’s native token is CRONA.
Swap and trading
CronaSwap allows users to trade without having to go through a centralized exchange. Everything you do on CronaSwap is routed directly through your own wallet – no need to trust your coins to someone else.
When a user makes an exchange (trade) of tokens on the exchange, a 0.25% trading fee is charged, which is distributed as follows:
- 0.17% is returned to liquidity providers as a commission.
- 0.03% is returned to the treasury. 0.05% is used to burn CRONA tokens.
When you add liquidity to a pool, you get LP tokens. When someone makes an exchange of tokens, a transaction fee of 0.25% is charged. The 0.17% will be returned to the liquidity providers as a commission.
The liquidity pool will also allow you to bet on LP tokens to earn CRONA tokens in Farms. In this way, in addition to earning income from token exchange transactions, the user will be able to place LP tokens and earn CRONA tokens.
For example, if you add liquidity to CRO / CRONA, you will receive CRO-CRONA LP tokens. The number of LP tokens you receive represents your share of the CRO-CRONA liquidity pool. You can always request a withdrawal by removing your liquidity.
You can only exchange tokens for CronaSwap if there is enough liquidity for those tokens. If no one has added much liquidity for the token or tokens you want to exchange, it will be difficult, expensive or impossible to do so.
For providing liquidity, you will receive LP tokens, which will bring you rewards in the form of trading fees for always providing liquidity for the exchange.
CronaSwap Farms offers our users many farming opportunities. You can place your LP tokens and receive CRONA tokens in return. We will incentivize many liquidity pairs by offering our liquidity providers the ability to place their LP tokens on our farms.
When a person adds liquidity to the pool, he/she gets LP tokens. For example, if a person adds liquidity to a $CRO / $USDC pair, s/he receives CRO-USDC LP tokens. In addition to transaction rewards, the user can go to Farms, bet on those LP tokens, and earn CRONA tokens in return.
CronaSwap startup pools are a less resource-intensive alternative to mining. It allows you to use your tokens to earn even more tokens, for free. Simply put, you block your cryptocurrency to earn rewards. From the beginning, the user can only bid with CRONA tokens in exchange for more CRONA. We plan to add more options (tokens) in the future, but for now you can only bet on CRONA in exchange for CRONA.
Let’s say you have CRONA tokens and are looking for ways to invest your cryptocurrency. Alternatively, you can go into our launch pools and bet on CRONA tokens in exchange for CRONA.
We look forward to more news from the CRODO.IO project.