Cronos ID price

CROID

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1. Domain Subscription Module Users may utilize this module to register or extend their ownership over specific domains. Users will pay in $CRO or $CROID, the native underlying chain and native protocol tokens respectively, and may receive discounts based on the durations of their domain registrations.

2. Rewards Pool Cronos ID domain holders can deposit their $CROID into maturity vaults to earn $CROID rewards. Users can choose between a 1-month, 9-months, 24-months, and 48-months maturity vaults to lock their $CROID. They will be rewarded with $CROID and $wCRO as staking rewards.

Cronos ID concluded its public sale on Nov 17th and started its emission on Nov 18th. $CROID is currently available for trading on VVS Finance at https://vvs.finance/swap

Read more about Cronos ID at https://docs.cronosid.xyz/

Cronos ID represents a decentralized identity and communication framework developed on the Cronos blockchain. This infrastructure is designed to enhance user interaction within the blockchain space by providing a suite of tools and services that simplify the process of communication and identification. At its core, Cronos ID aims to make blockchain interactions more intuitive and user-friendly, leveraging human-readable identifiers to streamline the exchange of information and transactions.

The platform is built upon three main subprotocols, each serving a distinct purpose within the ecosystem:

1. Domains: This feature allows users to establish a unique on-chain identity. By having a distinct domain, individuals can easily locate and interact with each other, facilitating smoother crypto transactions and social connections within the blockchain environment.

2. Notifications: To keep the community informed and engaged, the notification service alerts users about important events, such as protocol updates, NFT bids, and other relevant activities. This service eliminates the need to manually monitor various decentralized applications (DApps) for updates, creating a more efficient user experience.

3. Messaging: A secure and verifiable messaging system enables direct communication between users and projects. This fosters a collaborative environment where information can be exchanged safely, enhancing the overall connectivity within the Cronos ecosystem.

Tokenomics of Cronos ID

The native governance token of Cronos ID, denoted as $CROID, plays a pivotal role in the ecosystem. It is used for various purposes, including domain purchases at discounted rates, especially for shorter names. The tokenomics model is designed to distribute protocol revenue among token holders, with allocations for a reward pool, ecosystem treasury, and a mechanism for token buyback and burn. The total supply of $CROID tokens is capped, with a distribution plan that includes allocations for the team, community reserve, partnerships, marketing, and liquidity management.

Core Utility Modules

Cronos ID introduces several utility modules to enhance its ecosystem:

• Domain Subscription Module: Users can register or renew domain names using $CRO or $CROID tokens, with potential discounts for longer registration periods.
• Rewards Pool: Domain holders have the opportunity to stake their $CROID tokens in maturity vaults of varying durations to earn rewards in both $CROID and $wCRO.

Cronos ID's approach to decentralized identity and communication not only simplifies user interactions on the blockchain but also contributes to the broader adoption of blockchain technology by making it more accessible and user-friendly. As with any blockchain-based project, individuals should conduct thorough research to understand the intricacies of the platform and its tokenomics before engaging with the ecosystem.

Cronos ID enhances security through a multifaceted approach designed to protect user data and funds while facilitating seamless interaction within the crypto ecosystem. At its core, Cronos ID integrates a robust infrastructure layer that serves as a bridge for users across centralized finance (CeFi) and decentralized finance (DeFi) platforms. This infrastructure is crucial in creating a secure environment where users can engage with various financial services without compromising safety.

To further bolster security, Cronos ID has implemented advanced security measures such as multi-factor authentication (MFA) and passwordless login options. These measures are essential in preventing unauthorized access to user accounts, thereby safeguarding sensitive information and assets. Multi-factor authentication requires users to provide two or more verification factors to gain access to their accounts, adding an extra layer of security beyond just a password. Passwordless login, on the other hand, eliminates the need for traditional passwords, reducing the risk of password-related breaches.

Cronos ID's decentralized identity and communication layer are built on the Cronos blockchain, offering users unique on-chain identities through its Domains subprotocol. These identities enable users to easily find and interact with each other, streamlining the exchange of crypto assets. Additionally, the Notifications and Messaging subprotocols enhance community engagement and secure communication within the ecosystem.

The platform's native governance token, $CROID, plays a pivotal role in the ecosystem, offering utility in domain purchases, access to discounted rates, and participation in the protocol's governance. The tokenomics of $CROID are designed to ensure a sustainable distribution of protocol revenue among token holders, with a clear allocation strategy for rewards, ecosystem development, and liquidity management.

In summary, Cronos ID's security is underpinned by its comprehensive infrastructure, advanced authentication methods, and the strategic use of its native token to create a secure, user-friendly platform for CeFi and DeFi interaction.

Cronos ID serves as a decentralized identity and communication framework designed for the evolving web3 space, aiming to simplify and secure interactions within the blockchain ecosystem. It stands at the intersection of centralized finance (CeFi) and decentralized finance (DeFi), offering a bridge for users across these platforms within Cronos and beyond. This infrastructure facilitates not just financial transactions but also enhances communication and identity verification processes, making it a versatile tool for users and developers alike.

At its core, Cronos ID introduces three primary subprotocols to enhance user experience on the blockchain:

1. Domains: This feature allows users to establish a unique on-chain identity. By utilizing human-readable identifiers, it simplifies the process of finding contacts and conducting cryptocurrency transactions, moving away from the traditional, complex wallet addresses.

2. Notifications: To keep the community informed and engaged, Cronos ID incorporates a notification service. This system alerts users about important protocol events, NFT bids, and other relevant activities, eliminating the need for manual monitoring of decentralized applications (DApps).

3. Messaging: A secure and verifiable messaging system enables users and projects to communicate directly within the ecosystem. This fosters collaboration and interaction, ensuring that exchanges are both safe and transparent.

Tokenomics and Utility

Cronos ID is supported by its native and governance token, $CROID, which plays a pivotal role within its ecosystem. The tokenomics are designed to offer benefits to token holders, including a share of protocol revenue, with 40% allocated to Reward Pool stakers and another 40% to the Ecosystem Treasury. Additionally, 20% of the revenue is used for buyback and burn initiatives to support the token's value.

The total supply of $CROID is set at 1 billion tokens, distributed across various stakeholders including the team, community reserve, partnerships, and for marketing and ecosystem development.

Key utility modules within Cronos ID include:

• Domain Subscription Module: Users can register or extend domain ownership using $CRO or $CROID, with potential discounts for longer registration periods.
• Rewards Pool: Domain holders can stake their $CROID in maturity vaults to earn rewards, offering a range of locking periods to suit different user preferences.

Cronos ID's launch and subsequent token emission mark the beginning of its journey in the DeFi space, with its tokens being available for trading on selected platforms.

In summary, Cronos ID is poised to revolutionize the way users interact with the blockchain by providing a comprehensive suite of services that enhance identity, communication, and financial transactions. Its focus on user-friendly features, coupled with a robust tokenomics model, positions it as a key player in the web3 ecosystem. As with any investment in the crypto space, individuals should conduct thorough research to understand the risks and potential of the technology involved.

Cronos ID has marked its presence in the decentralized identity and communication space with several significant milestones that underscore its development and growing ecosystem. Initially, the project made its debut with the launch of its website, providing a centralized platform for information and updates. This was a crucial step in establishing its online presence and making its offerings accessible to a wider audience.

Following the website launch, Cronos ID introduced its tokenomics and pricing model, laying out a clear framework for the utility and distribution of its native token, $CROID. This release was pivotal in detailing how the project aims to sustain its ecosystem, allocate resources, and reward its community and stakeholders. The tokenomics reveal a balanced approach to growth, sustainability, and community engagement, with a significant portion of tokens allocated to partnerships, community reserves, and ecosystem development.

Partnerships have been a key focus for Cronos ID, as it seeks to expand its reach and utility within the decentralized finance (DeFi) sector. Collaborating with other entities has not only broadened its network but also enhanced its value proposition by integrating with other platforms and services. These partnerships are instrumental in driving adoption and fostering a more interconnected DeFi ecosystem.

To enhance user experience and engagement, Cronos ID has released comprehensive user guides and introduced new features such as sub-domains and staking vaults. These additions are designed to improve the platform's functionality and offer users more flexibility and options in managing their on-chain identity and assets. The staking vaults, in particular, provide an avenue for token holders to earn rewards, further incentivizing participation and investment in the ecosystem.

Cronos ID's approach to decentralized identity and communication is encapsulated in its core utility modules, including the Domain Subscription Module and Rewards Pool. These features underscore the project's commitment to providing practical and beneficial services to its users, leveraging its native tokens for transactions, discounts, and rewards.

As the project continues to evolve, it remains focused on bridging the gap between centralized finance and DeFi, offering innovative solutions for on-chain identity and communication. With its strategic initiatives and ongoing development, Cronos ID is poised to play a significant role in the broader adoption and advancement of blockchain technology and decentralized applications.