Crypto.com Slashes CRO Lockup Rewards Amid Continued Token Erosion

Crypto.com is once again revising its terms for CRO holders, this time slashing annual rewards on new lockups by up to 25%. This move follows a long history of roadmap changes, altered promotions, and reneged forecasts by Crypto.com. The company's predecessor, Monaco, initially sold MCO with an 'asset contract' funded by a 1% fee on certain transactions.

However, this contract was removed from the roadmap in late 2017 due to regulatory changes. Instead, Monaco raised its cashback rate for cardholders to as much as 2%. This change was made despite initial promises of revenue-linked redemption value for MCO holders.

The CRO token has struggled since its launch, with a price decline of 75% over the past year and an overall drop of 93% from its all-time high. The company's Cronos blockchain also experienced technical difficulties recently, erasing hours of activity due to uptime issues.