February was a remarkable month for us—we crossed the 10 million user milestone, only 4 months after reaching 5 million users! Given the accelerating pace of growth, we moved our 100m user base target to 2023 — two years ahead of our original schedule.
This month, the Crossfire Mainnet Dry-Run came to an end, and we announced the burning of 70 billion CRO—the largest token burn in history—ahead of the official Crypto.org Chain launch on 25 March. We are now aggressively pursuing full decentralisation of the Chain network, paving the way for the development of payment solutions, DeFi products, and NFTs.
Crypto.org Chain is perfectly positioned to capture growth in these areas with full decentralization, high speed, fast finality and very low fees. Validators running nodes on the network following the March 25th launch will earn an estimated 20% APY. Millions of individual issuers will be able to enjoy the same benefit by single-tap delegation via the Crypto.com DeFi Wallet app.
February also saw a major product release, more than a year in the making: Crypto.com Derivatives launched on a completely new technology stack, with 2.7m transactions per second matching engine and ultra low core latency of 50 microseconds. Trading began with the BTCUSD Perpetual contract, with more markets coming soon. Read on for details about these updates and more.
Crypto.com Crosses 10 Million User Milestone
10 million users! This milestone comes only 4 months after we reached the 5 million user mark, highlighting tremendous momentum for our company and the entire cryptocurrency industry. Learn more about this achievement and our future plans here.
70 billion CRO to Be Burned
With the CRO Chain Mainnet launch just around the corner, we are working to fully decentralise the Chain network. The largest token burn in history begins today, where 70 billion CRO will be burned. Learn more here.
CRO Mainnet Launching on 25 March 2021 as Crypto.org Chain
It’s official! The Mainnet launch date is set for 25 March 2021. It will launch as the Crypto.org Chain with Crypto.org Coin (CRO) as the native currency. Read about it here.
CRO Mainnet Staking Rewards Set at 20% p.a.
The target CRO Staking rewards for the Crypto.org Chain will be set at around 20% p.a. for active network participants at launch on 25 March 2021. More details here.
Derivatives Trading Now Live on the Exchange
Derivatives trading is now live on the Exchange, with the BTCUSD Perpetual contract of up to 50x leverage. Users can enjoy discounted trading fees based on the amount of CRO they stake on the Exchange. Read about it here.
Anti-Phishing Code for App Users Launched
Users can set up a personalised and recognisable code that will be displayed in all legitimate emails from Crypto.com. Exchange users who already set up an Anti-Phishing Code can use the same code for their App emails. Protect your account with an added level of security now.
Tesla Bitcoin Lucky Draw - Win a Brand New Tesla Model S, Model 3, Model X, or Model Y
We’re giving away 4 Tesla cars, valued at over USD 250,000, for our Tesla Bitcoin Lucky Draw! App users who trade BTC between now and 8 March have the chance to win a brand new Tesla Model S, Model X, Model Y, or Model 3. See how to participate here.
CEO Kris Marszalek Ranked #9 on Cointelegraph's Top 100 Notable People in Blockchain
Congratulations to our CEO Kris Marszalek for being ranked #9 on Cointelegraph's Top 100 Notable People in Blockchain! Read the full feature here.
Now on Supercharger: Dogecoin (DOGE)
DOGE is now listed on Supercharger. Learn more about the event here.
Crossfire, the Crypto.com Mainnet Dry-Run Event Highlights
The Crypto.com Mainnet Dry-Run, Crossfire, successfully concluded with validators completing more than 275 million transactions. Crossfire's aim was to stress test the network in a practical, real-world setting before public release, and marked the final step in preparation for our Mainnet launch. View details here.
Crossfire Mainnet Dry-Run Results
Participating validators of the Mainnet Dry-Run had the opportunity to compete and win USD 300,000 of CRO for completing tasks. View details here.
Crypto.com App Updates:
New Listings on the App
We added Balancer (BAL), Stacks (STX), UMA (UMA), Flow (FLOW), VeThor Token (VTHO), and Avalanche (AVAX) to a growing list of 80+ cryptocurrencies and stablecoins! Buy crypto at true cost now.
New Deposit and Withdrawal Tokens
Waves (WAVES), Balancer (BAL), Dogecoin (DOGE), UMAs (UMA), Sandbox (SAND) deposits and withdrawals are now supported in the App.
20 New USDC Trading Pairs
New USDC trading pairs are now available in the App. Trade USDC with WBTC, COMP, ICX, CRV, KSM, BAND, UNI, SNX, WAVES, OMG, THETA, XTZ, BAT, ENJ, MANA, MKR, KNC, MATIC, CHZ, SKL, along with 12+ other pairs now.
AVAX Exclusive Campaign
Following the listing of Avalanche (AVAX), we launched the AVAX Exclusive Campaign to our App users and AVAX traders, with a total of USD 40,000 in AVAX to be won. View details here.
Crypto.com DeFi Updates:
New Integrations on DeFi Earn
DeFi Earn is integrated with Yearn Earn V2 and Cosmos Staking, in addition to Compound Staking (requires DeFi Wallet V1.7.0 or above). Users can now earn interest on 12 tokens, including ATOM, BAT, COMP, DAI, ETH, UNI, USDC, USDT, WBTC, ZRX, SUSD, and TUSD.
Enjin (ENJ) Now on DeFi Swap
Users can swap ENJ, earn fees by becoming ENJ Liquidity Providers (LPs), and boost their yield by up to 20x when staking CRO. Learn more here.
Crypto.com Exchange Updates:
New Lending Loan Currencies
Users can now secure BTC, ETH, XRP, and LINK loans by borrowing against their crypto, and access a loan-to-value (LTV) ratio of up to 50%.
New Lending Collaterals
Users can now borrow against their crypto with a loan-to-value (LTV) ratio of up to 50% by depositing DOT, XRP, USDT, or USDC as collateral. View more details here.
New Listings on the Exchange
We listed Balancer (BAL), Dogecoin (DOGE), UMA (UMA), Sandbox (SAND)! Trade them in USDT and CRO pairs now.
New BTC Trading Pairs
We listed the DOGE/BTC and DOT/BTC trading pairs! Trade them in USDT, BTC, and CRO pairs now.
Crypto.com Credit Updates:
Crypto Credit Now Supports DOT and XTZ
Users can now deposit DOT and XTZ as collateral on Crypto Credit, and instantly secure a loan at a 50% loan-to-value (LTV) ratio. More details here.
Crypto.com Pay Updates:
Crypto.com Pay Gift Card Launched in South Korea
Users in South Korea can now use crypto to buy gift cards from popular brands like Starbucks, Domino’s Pizza, Lotteria, and BHC Chicken, and get up to 10% back by paying with CRO. Learn more about it here.
Crypto.com Pay Now Supports 17 DeFi Tokens
Through its integration with DeFi Swap, Crypto.com Pay now accepts 17 DeFi tokens and brings additional utility to our DeFi offering, namely by enhancing Swap-Fee Sharing benefits for DeFi Swap Liquidity Providers (LPs) with each Pay transaction. View details here.
Crypto.com Card Updates:
Crypto.com Visa Card Staking Requirements to be Expressed in Local Currencies
CRO Staking Rates will be updated for the Crypto.com Visa Card, effective 19 March 2021. We are implementing this change to maintain consistent card staking requirements for users during times of market volatility. View details here.
AMA with our CEO Kris Marszalek
We hosted a live AMA with our CEO Kris Marszalek on 25 February to answer users’ questions about the 70 billion CRO burn, CRO Mainnet Launch, and the Crypto.org Chain. Missed it? Watch it here.
Crypto.com Accredited and Featured on 3 Protocols’ Official Websites
AMA with Theta
We hosted a live AMA with Wes Levitt, Head of Strategy at Theta, on 2 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
AMA with Waves
We hosted a live AMA with Sten Laureyssens, Strategic Advisor of Waves Protocol, on 4 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
AMA with Alchemy
We hosted a live AMA with Nikil Viswanathan, Co-founder and CEO of Alchemy, on 9 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
AMA with Matic Network
We hosted a live AMA with Sandeep Nailwal, Co-founder and COO of Matic Network, on 11 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
AMA with Skale
We hosted a live AMA with Jack O'Holleran, Co-Founder and CEO of Skale Network, on 18 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
AMA with Celer Network
We hosted a live AMA with Mo Dong, Co-founder of Celer Network, on 23 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
AMA with ANKR
We hosted a live AMA with Chandler Song, Co-founder and CEO or Ankr, on 25 February to discuss and answer viewers’ questions about the project. Missed it? Watch it here.
Crypto.com Supported the Cosmos Hub Upgrade
We supported the Cosmos Hub Upgrade on 18 February.
Events of the Month
Year of the Ox Promotions
We celebrated Year of the Ox by allowing users to send crypto Red Envelopes to their loved ones using the Pay Your Friends feature in the Crypto.com App. View details here.
DOGE Treats Promotion
We launched the DOGE Treats Promotion campaign to welcome new App users and DOGE fans, with a total prize pool of USD 50,000 in DOGE. View the promotion here.
Near Protocol (NEAR) Listed on Supercharger
NEAR was listed on Supercharger with a USD 250,000 allocation. View details of the event here.
Filecoin (FIL) Listed on The Syndicate
FIL was listed on The Syndicate at 50% off, and the event was a success: 43.1 times oversubscribed, 7,000 FIL allocated, and 31.1 million CRO contributed by 1,964 users with 120.87% APY.
Enjoy Bonus Yield as a CRV Liquidity Provider
We offered a bonus yield of USD 10,000 in CRV to Liquidity Providers for providing CRV liquidity on DeFi Swap. More details here.
Margin Trading Race Phase 2 Results
Congratulations to all the winners of our Margin Trading Race Phase 2! Check out the top 10 winners here.
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Total Cryptocurrency Users Across the Globe Reach 106 Million: Crypto.com
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