Wrapped CRO
Wrapped CRO is the DeFi-compatible version of CRO, the native token of the Cronos chain used for gas fees.
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WCRO is a mid-cap asset that represents the protocol`s native governance or utility token. This asset depends on a centralized entity for custody services.
Wrapped CRO has no dependencies.
WCRO has a fixed supply.
WCRO is moderately correlated to the overall market.
What is CRO used for?
The CRO token power both the Cronos chain and the Crypto.org chain. It is used to pay for gas fees on the Cronos network and for staking to secure the Crypto.org blockchain. The Cronos network requires a small amount of CRO to execute transactions on the blockchain. Validators on the network are earn CRO from transaction fees only as there are no block rewards.
CRO tokenomics
The total supply of CRO initially started with 100B tokens. In early-2021, 70% was burned to reduce the outstanding supply to 30B tokens. CRO is used for different purposes throughout its ecosystem. About 1/6th of the outstanding supply (~5B) is reserved to fund block rewards for Crypto.org validators.
How does CRO accrue value?
CRO is the native token for the Cronos chain and the Crypto.com ecosystem. It is used for payments, trading, and financial services. As a blockchain asset, CRO is used to pay for transaction fees.