Deferred Rewards: Crypto.com gives down

on Crypto.com Depending on the amount of money deposited in the CRO, members receive one of seven different metal Visa cards. For the first card with the name “Midnight Blue” you get 1 percent bet reward. If you deposit $ 400,000 into your Crypto.com wallet and have it blocked for at least 180 days, you can even get up to 8 percent in bet rewards with the black “Obsidian” card. This is the highest level.

Restrictions for more sustainability

On Sunday, the fintech company announced the cuts in those rewards in a blog post. For the lowest level, rewards should be cut by an average of 69.5 percent. For the highest Obsidian level, the dose booster should fall from 8 percent to 5 percent.

In addition to the reduced effort rewards, there are additional limitations. The company would like to introduce a monthly reward limit for three different cards. The “Ruby” Steel card has a monthly limit of $ 25, while the “Royal Indigo” and “Jade Green” cards have a monthly reward limit of $ 50.

Had the company calculated incorrectly in advance? Singapore Cryptocurrency Exchange CEO Kris Marszalek wrote on Twitter that the company is growing rapidly and that he wants to make the effort program sustainable. So as he looks ahead, he has to cut back on rewards to ensure “long-term sustainability” and the returns offered.

The changes to the rewards plan are scheduled to take effect on June 1st. However, for all cardholders who had an active bet of six months (180 days) before Sunday, the reward plan will not change until their current period expires.

Crypto.com customers are clearly annoyed by the sudden cuts. developer diagrama prominent crypto-actor, told his 170,000 Twitter followers that the stock market’s decision was “the dumbest decision of the day.”

Marszalek reacts quickly to the negative mood in society and tries to appease it. On Twitter, he explains that he wants to adjust the bet reward rates fairly.

Instead of completely discarding or drastically cutting card effort rewards, Crypto.com aims to offer a more balanced approach. Nevertheless, the potential profit for the customers decreases.

Result: 8 percent to all private members with Obsidian, Icy White and Frosted Rose Gold cards and 4 percent effort rewards to all owners of Royal Indigo and Jade Green cards. The decision has not yet been officially confirmed. Nevertheless, the Cronos Award (CRO) has already been restored. It is currently trading at just under 0.3 US dollars, an increase of almost 1 percent on the day.

There is currently no information on effort rewards for Ruby Steel and Midnight Blue holders. It can be assumed that the rewards will be omitted in these cases.

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