Crypto.com has announced in a press release on August 3, 2020, that it is going to merge two of its tokens CRO and MCO into a single token and therefore the Hong Kong-based company has implemented the MCO Swap Program allowing users to swap their MCO tokens for CRO tokens. Following the announcement by Crypto.com, the price value of MCO token jumped high by over 36% within no time.
Combining MCO’s functionality and utility with CRO
Announcing the swap program for MCO token holders, the company says that it is unifying the utility and functionality of the MCO token with that of CRO’s and this is what the basic purpose of the swap program. The company says that it will represent the functionality of MCO token in a new way by merging it with the utility and technology of CRO in a singular token system.
As the company says in the announcement post:
“There will be no change to this core functionality, but we are expanding MCO functionality and representing it in a new way. Specifically, the swap program will involve combining the current functionalities of MCO, with CRO’s utility and technology, in a “one stop shop” token to enable a streamlined Crypto.com ecosystem.”
Users have Nov 2 to complete their MCO Swap
Users are allowed to start their MCO swap via this program from today onward by using the Crypto.com app. The option for swap is available on the interface of the app. Those users who will complete their swap process before September 2 will be given a 20% bonus. The company says that users will get 33.1726 CRO in exchange for one MCO as per the specified swap rate and it will also include the bonus as well.
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The company has given users the deadline of November 2 to complete their swap process. If they do not complete swaps until this time, they will not be able to leverage the functionality of the MCO token as the Crypto.com app will no longer support this token after that. However, the MCO token will be available on the Ethereum blockchain.