Important Announcement: MCO Swap

ruber et impius

Himbersor
Registrado
11 Abr 2020
Mensajes
2.340
Puntuación de reacción
4.760
Ubicación
באמצע מישור, באמצע שום מקום.
Hay que cambiar los MCO por CRO.

Yo me daría buya, porque el cambio no es fijo, sino a mercado y los MCO se van a devaluar pero ya ya ya.

In order to maximise the benefits arising from increasing use of blockchain technology, streamline our operations and leverage the advanced capabilities of the Crypto.com Chain, we are implementing the MCO Swap Program.


The process for swapping your MCO, and the terms and conditions that apply to this process, are set out below.


Please read this announcement carefully. Action is required before 2 Nov 2020 at 23:59 UTC, or you will lose the functionality currently associated with your MCO. We will not perform the MCO swap on your behalf and the swap will not happen automatically.[1]

What is the MCO Swap Program?

At its core, MCO is a blockchain-based transferable representation of attributed functions of the Smart Contract System.


There will be no change to this core functionality, but we are expanding MCO functionality and representing it in a new way. Specifically, the MCO Swap Program will involve combining the current functionalities of MCO, with CRO’s utility and technology, in a “one stop shop” token to enable a streamlined Crypto.com ecosystem. The swap program will also serve to leverage the advanced capabilities of the Crypto.com Chain, in preparation of its upcoming mainnet launch.


Once the swap process is complete:


  • The Crypto.com ecosystem will use one streamlined token (CRO) with the combined functionality, rather than two separate tokens (CRO and MCO).
  • All functions currently attributed to MCO will still exist and will be preserved, but will be enhanced and represented by CRO.
  • MCO that is not swapped will still exist and circulate on the Ethereum blockchain as ERC-20 tokens, but Crypto.com will no longer support these tokens and no Crypto.com service or product will require or permit usage of these tokens.



What do I need to do?

Between 3 Aug 2020 at 06:00 UTC and 2 Nov 2020 at 23:59 UTC, MCO holders can swap MCO through the Crypto.com App.


The Crypto.com App will handle all technical requirements involved during the MCO swap process. To complete the swap process, simply:


  1. Log in to the Crypto.com App
  2. Follow all the on-screen instructions, which should take approximately 2 to 3 minutes to complete.

You must complete this process by 2 Nov 2020 at 23:59 UTC. Please plan ahead and ensure you leave enough time in case of any internet or system issues.


At the completion of the MCO swap process, your MCO will be swapped for CRO in the Crypto.com App. See below if you do not have a Crypto.com account or if your MCO is currently staked or held elsewhere.


Fraud Prevention Warning

Completing the MCO swap process through the Crypto.com App is the only method for swapping your MCO.

You may receive notifications from persons impersonating Crypto.com, or you may see posts online from persons claiming to represent Crypto.com. For example, these notifications and posts may request that you send MCO to a particular wallet in order to complete the swap process.

If you receive such requests, do not send any MCO to any wallet, do not reply to any such notification or post, and please notify us immediately at contact@crypto.com.
What is the swap formula?

Crypto.com will use the following formula based on the volume weighted average price as expressed in United States dollars (“VWAP”) to determine the number of CRO allocated to you that reflects each swapped MCO:


1 MCO = (30-day VWAP of MCO / 30-day VWAP of CRO) x 1 CRO


(30 days between 4 Jul 2020 to 2 Aug 2020, both dates inclusive)


MCO to CRO Swap Rate

Please note that based on the swap formula above, the swap rate of MCO to CRO is fixed at:

1 MCO = 27.6439 CRO

Are there any bonuses?

Crypto.com will offer an Early Swap Bonus in CRO if the MCO swap is performed before 2 Sep 2020 23:59 UTC, based on the following formula and criteria:



Early Swap Bonus
ValueThe participant will receive an Early Swap Bonus, that is equivalent to 20% of the amount swapped at the MCO to CRO Swap Rate.
DistributionThe Early Swap Bonus will be distributed on the Crypto.com Exchange and Staked for 6 months.

If the participant has not yet registered for a Crypto.com Exchange account, the Early Swap Bonus will be held on the participant’s behalf and will be credited upon successful registration.

If the Exchange is not available in the participant’s jurisdiction, the Early Swap Bonus will be put on a 3 month Earn deposit in the Crypto.com App.
ValidityPerform the MCO to CRO Swap between 3 Aug 2020 at 06:00 UTC and 2 Sep 2020 at 23:59 UTC


MCO to CRO Swap Rate, including Early Swap Bonus:

1 MCO = 33.1726 CRO

What if my MCO is staked?

You can swap all your staked MCO to CRO. The remaining number of days on your MCO stake will be preserved on the resulting CRO Stake.


Simply follow the Crypto.com App’s on-screen instructions in order to swap your staked MCO.


At the completion of the MCO swap process, your staked MCO will be swapped for staked CRO at the MCO to CRO Swap Rate (see formula above) (the CRO Swapped Amount) in the Crypto.com App. Your staking benefits will remain unchanged and you will continue to enjoy the same benefits as before the swap.


Following the swap, if you are eligible to unstake and choose to unstake your CRO, the CRO Swapped Amount will be returned to your CRO Wallet.

What if my MCO is held on an exchange or external wallet?

If your MCO is held outside of the Crypto.com App, including on the Crypto.com Exchange, you must transfer it into the Crypto.com App in order to complete the MCO swap process.


For details of transfers, please refer to the Crypto.com App User Guide.

What if I don’t have a Crypto.com account?

Compliance is very important to us. Accordingly, you must register for a Crypto.com account and complete your Identification Verification or KYC (Know Your Customer) in order to participate in the swap process.

What happens after the deadline?

If you have completed the swap, then you will receive CRO that represents all of the pre-swap MCO functionality (and much more).


The swap program will finish on 2 Nov 2020 at 23:59 UTC. If you have not completed the swap process by then:


  • you will no longer be able to buy or sell MCO through the Crypto.com App and you will not be able to enjoy the MCO utility within the Crypto.com App as its utility will have been migrated to CRO;
  • you will only be able to withdraw any MCO you hold in the Crypto.com App will to an external address on the Ethereum network. No other functionality will be available from Crypto.com;



What about other Crypto.com products?

As a result of the MCO swap, the Crypto.com App Terms and Conditions, the terms of Crypto Earn, Crypto Credit, USD Fiat Wallet, MCO Visa Prepaid Card for Singapore, Europe and the United States have been updated. Any specific actions required by you with regard to these products which result from the MCO swap will be communicated to you via the Crypto.com App.

What will be the new MCO Visa Card staking tiers?

MCO staking for the MCO Visa Card will be replaced by the following CRO staking scheme.



TierMCO StakedCRO Staked
Ruby50 MCO5,000 CRO
Jade/Indigo500 MCO50,000 CRO
Icy White/Rose Gold5,000 MCO500,000 CRO
Obsidian Black50,000 MCO5,000,000 CRO

We are here to help

If you have any questions regarding the MCO swap process, please refer to the FAQ.


With kind regards,
The Crypto.com Team
 

The Fucking Andyteleco

Bubble Fucker
Registrado
5 Nov 2009
Mensajes
12.422
Puntuación de reacción
29.188
Yo he dumpeado mis CRO a $0.16. No me quejo, me he llevado un buen pico con el subidón de estos últimos meses.
 

Thundercat

Himbersor
Registrado
2 Ene 2016
Mensajes
994
Puntuación de reacción
850
Yo también he salido ganando aun con la bajada, además que al final acabará subiendo otra vez. Dentro de poco me llega la tarjeta.
 

ruber et impius

Himbersor
Registrado
11 Abr 2020
Mensajes
2.340
Puntuación de reacción
4.760
Ubicación
באמצע מישור, באמצע שום מקום.

Jose24

Cuñado nija
Registrado
30 Nov 2017
Mensajes
440
Puntuación de reacción
490
pues no me deja cambiarlos, sabes a que puede ser debido? me dice: balance insuficiente.
gracias