Crypto.org Chain overview : Get your CRO out of Crypto.com to make the most out of them
1. How to get your CRO out of Crypto.com.
The first thing you need is a CRO address on the Crypto.org chain. The most popular wallet for the Cosmos SDK blockchain is KEPLR. I recently published a full tutorial about how to start with the COSMOS SDK ecosystem of blockchains and the KEPLR wallet. You can find this post here : How to start with COSMOS (KEPLR Wallet, Cosmos-SDK based blockchains & Inter-Blockchain Communication).
Once you are all set with the KEPLR wallet, you can use your Crypto.org address to withdraw your CRO from the Crypto.com exchange.
As you can see above, the fee are really low, it costs 0.001 CRO to do a transaction. It is in sharp contrast with what Crypto.com was proposing to withdraw CRO before. Indeed, before the Crypto.org chain, the only solution was to withdraw your CRO on the Ethereum network, so basically anywhere between 30-50$.
2. Staking on Crypto.org
If you were staking on Crypto.com, then you know that your CRO had to be locked for at least 180 days for a 10% APR. On the Crypto.org chain however, your CRO are locked for at least 21 days, the APR can be as high as 15.63% and you can claim your rewards as often as you want.
You can stake directly from the KEPLR wallet. Click on Stake, choose a validator and that's it!
3. Local and inter-blockchain transaction
Since Crypto.org is part of the COSMOS SDK ecosystem of blockchains you can send your tokens to any blockchain connected to the KEPLR wallet using local and inter-blockchain transaction (IBC). This for example includes the COSMOS main hub or the Osmosis blockchain. Once again, you can refer to my tutorial to move your tokens and potentially swap them for something else within the COSMOS ecosytem of blockchains.
Moreover, the TERRA blockchain is SDK compatible. So it's also possible to swap your CRO for UST and send these UST to TERRA. I explained everything HERE. And once your are on TERRA you can use the wormhole or the shuttle bridge to move to any blockchain, such as ethereum, BSC, Polygon or Solana. The whole process will only take you a couple of minutes. In case you need more information on the wormhole bridge, I also posted a tutorial here.
Thank you for reading me. I hope this little guide helps. Don't hesitate to ask questions and follow me, I regularly post about DeFi.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
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