Cronos is the native token of the Crypto.com network. CRO is used to handle payments and staking on its network and reduce problems of market volatilities by allowing its users to convert their CRO tokens to fiat currency or stable tokens.
All +/- % changes are for a 24 hour window
# CRO History
CRO was launched in the final month of 2018 as an airdrop campaign on its network's mobile app. The token was created as an ERC-20 reward coin on the Ethereum blockchain before rolling out on the Crypto.com blockchain.
The campaign continued for 26 weeks, after which the token was locked for one year. Initially, CRO was launched with a total market supply of over 30 billion tokens, but over 5 billion tokens have been burned.
Crypto.com's exchange launch in November 2019 brought CRO more visibility and allowed the token's holders to stake their assets for a 20% Annual Percentage Yield.
The Crypto.com token has had promising market trends since its inception, with an ATH of $0.96 in November 2021. CRO had a sell-off towards the end of 2021 and fell down the market chart. The altcoin has had many downward trends since the start of 2022, staggering around the $0.4 range.
# Biggest Claim To Fame
CRO has risen to fame due to its blockchain's uniqueness and integrations. The primary source of fame for CRO is the VISA debit card adaptation and compatibility of its blockchain.
The VISA debit card is the pioneer launching platform for __[Crypto.com](https://crypto.com/)__. The blockchain company released five levels of cards for its users. Users can unlock these cards as they stake more CRO coins on the network's mobile app.
The level 1 card is called the Free Card, and it is free for every user on a beginner level. Everyone who uses this card earns a 1% incentive for every trade they make. The next level card is the Ruby Red Card that grants its users benefits when they stake their CRO holdings. Also, they gain a 2% incentive on all their trades.
The next tier card is the Jade Green card, also known as Indigo Cards. Users of this card need to stake at least 10,000 pieces of the CRO coin to be eligible for its benefits like a total reimbursement on their Netflix subscriptions and a 3% incentive on their purchases.
The tier 4 card, known as the Icy White or Rose Gold, has extra benefits like full refunds on Amazon Prime, a 10% rebate on every Expedia trade, 2 percent interest on Crypto.com Earn, and eligibility for Crypto.com Private. The platform's private service allows eligible users to buy unlimited crypto assets and earn over 3% in all airport lounge purchases.
The last card tier is the Obsidian black card that includes travel eligibility, more percentage refunds on purchases, and access to private jets.
Crypto.com created two chains under its network to serve different purposes, and the chains will maintain the network's native token. The first chain, __[Cronos Chain](https://cronos.crypto.org/explorer/)__, is compatible with the Ethereum Virtual Machine and Web3 technology. It is equipped to aid the switch of smart contracts and DApps from Ethereum and every chain that works with EVM. The other chain, __[Crypto.org](https://crypto.org/)__, was created for Decentralized Finance and Game Finance DApps. More so, it is seen as a thriving base for the metaverse. These innovations have made an increased utility for CRO tokens.
Crypto.com processes transactions at a quicker and cheaper rate than Ethereum, and it can operate on the Cosmos ecosystem, thus making CRO more attractive.
# Biggest Criticism
CRO users spot the token to have lesser significance outside the Crypto.com system. The Crypto.com system has been criticized for not having immediate, reliable, and responsive customer care, thus affecting the utility of the native token. Many people have questioned its huge staking APY and poor liquidity.
# CRO Team
__[Kris Marszalek](https://hk.linkedin.com/in/krismarszalek)__ is the sole creator and founder of Crypto.com and CRO. Kris is from Poland but is based in Hong Kong. Kris graduated from Adam Mickiewicz University, Poznan, in 2001 and has worked in several organizations as executive personnel. He is an expert at entrepreneurship and mobile app creation. More so, he has built and expanded different firms to million-dollar sizes.
CRO has experienced considerable expansion since its inception. Much of its fame is gotten from the transitive, innovative, and rewarding nature of its blockchain. The Crypto.com ecosystem accommodates more features that will likely boost the value and utility of CRO.