Cronos

Halal Rating :
Comfortable
Last Price $0.14 Last updated:
Rank 38
1D Change 9.55 %
Market Cap $3.82b
Circulating supply 26,571,560,696
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Medium of Exchange
  • Cosmos Ecosystem
  • Centralized Exchange (CEX) Token
  • Mobile
  • Payments
  • Ethereum Ecosystem
  • Solana Ecosystem
  • Injective Ecosystem
  • Osmosis Ecosystem
  • Layer 1

Purpose and Utility

Cronos (CRO) is the native token of the Cronos Chain, developed by Crypto.com. It serves multiple utilities within the Crypto.com ecosystem: powering transactions on the Cronos Chain, providing trading fee discounts on the Crypto.com exchange, and enabling staking for rewards in the Crypto.com DeFi wallet.

Business Model Analysis

The core business model revolves around facilitating cryptocurrency trading, payments, and blockchain infrastructure. The token's primary utilities are transaction fee payment, governance participation, and securing the network through staking. The Cronos Chain itself is an EVM-compatible blockchain that enables smart contracts and decentralized applications.

Real-World Adoption

Cronos has achieved significant adoption through the Crypto.com ecosystem, which claims over 70 million users globally. The token is actively used for trading fee discounts, card staking rewards, and network validation. The Cronos Chain hosts numerous DeFi protocols and NFT platforms.

Development Activity

The project maintains active development, with regular updates to the Cronos Chain and associated infrastructure. The GitHub repository shows consistent commits and the team regularly publishes technical updates and roadmap progress.

Token Distribution

The total supply of CRO is capped at 30 billion tokens. A significant portion was initially allocated to Capital Reserve (20%), Network Long-Term Incentives (20%), and Ecosystem Grants (20%). The remaining tokens were distributed among various ecosystem initiatives and the development team.

Sharia Considerations

The primary functions of CRO involve legitimate asset exchange and network utility. The staking mechanism is used for network security and doesn't involve traditional interest-bearing arrangements. The ecosystem primarily focuses on trading and payment infrastructure rather than lending or gambling activities.

Crypto Impact

To assign a comfort level investing in Cronos from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Cronos.

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