Crypto.com has officially announced the Airdrop Arena.
It is a new way to obtain rewards and prizes through airdrop.
Summary
The Airdrop Arena of Crypto.com
Crypto.com is a well-known crypto exchange, primarily used via an app on smartphones.
Its Airdrop Arena is the section within its app where users can earn rewards simply by assigning their CRO from their Crypto.com wallet to the Airdrop Arena itself.
Users earn points based on the number of CRO assigned to the Airdrop Arena, and these points are then used to determine their rewards in the monthly events. The more points you earn, the higher the rank you achieve in the ranking, and the higher the rewards.
Points are earned by assigning CRO to the Airdrop Arena: for every 100 CRO assigned, you get 1 point.
However, points can also be earned every day during the ongoing Airdrop Arena events, based on the assigned CRO snapshot balance and the Point Booster status at the time of calculation.
The ranking is simply drawn up based on the total points of the users, and it is updated in real-time.
Crypto.com: The first event of the Airdrop Arena
The first event of the Airdrop Arena of Crypto.com was launched today.
This is the inaugural event of this new service, and it offers 500,000 dollars in CORGIAI tokens.
These tokens will be effectively given away to users who allocate CRO to the Airdrop Arena, in proportion to the position obtained in the points ranking mentioned above.
Three boosters have also been made available to users that allow them to earn extra points.
The first is the so-called Swift Starter, thanks to which you can earn 120% of points for one day if you are among the first 10,000 participants in the event to assign CRO to the Airdrop Arena.
The second is called Loot Locker and allows you to obtain 200% event points per day by locking the rewards of the current event for six months.
The third, Rewards+ Voyager, allows you to earn up to 160% points per day if you are at least at Level 5 of Rewards+.
CORGIAI
CORGIAI is the token of the crypto project CorgiAI.
It was launched on the crypto markets a year ago, and it had a real boom between November 2023 and early March 2024.
Subsequently, however, its price dropped, but remained well above the launch price.
CORGIAI is the main token used in the CorgiAI ecosystem. In the future, it will have staking utility and will be used as a purchase token for upcoming initiatives related to CorgiAI.
The token is present both on the Cronos blockchain, the one launched by Crypto.com, and on Ethereum and Solana.
The roadmap of the CorgiAI project is already in phase 2, given that phase 1 has been completed, and also includes the launch of NFT and an AI marketplace.
The token CRO
But the most interesting thing is the impact that the Airdrop Arena could have on the price of CRO, the native cryptocurrency of the Cronos blockchain.
In fact, CRO is the cryptocurrency of Crypto.com, and the fact that it can be used to be practically immobilized in the Airdrop Arena could help reduce selling pressure, if not even increase buying pressure.
In fact, the Airdrop Arena of Crypto.com is somewhat reminiscent of the launchpool of Binance, and BNB this year has recorded new all-time highs.
The price of CRO, on the other hand, is still in serious trouble, as it is at the levels of May 2020.
The last major bullrun began when CRO was around $0.06, while now it is at $0.08. Specifically, the rally that led to the all-time highs of November 2021 ($0.96) started in August of that same year at $0.11.
So the current price is lower than the one from which the last big rally started.
During the bear-market of 2022, it had dropped below $0.06, and since then it has not really managed to recover.
In March of this year, it managed to climb back to almost $0.17, only to then fall back below $0.09.
If the Airdrop Arena had a similar effect on CRO as the Binance launchpool had on BNB, one could expect a significant rebound in its market value.
