Chain: Cronos chain (CRC-20)
The Golden Crona token (most commonly known by its ticker symbol, $GRONA) was designed specifically to reward CronaSwap’s most loyal community members. GRONA enables holders not only participate in governance, but to also take advantage of other valuable benefits including passive farming, exclusive pools, and access to special IFO allocations.
GRONA is an extension of our CRONA tokenomics; it's a derivative token of CRONA which offers more benefits at a higher premium.
GRONA can only be acquired by converting CRONA on the Golden Crona page.
As a result of the burn and reflect fees, users receive 0.7 GRONA for every 1 CRONA converted.
To reward GRONA users for their commitment, GRONA is valued at 1.389x compared to CRONA within the CronaSwap ecosystem (Staking Pools & IFOs).
In traditional finance, this would be considered an "unrealized loss". It only becomes material once you convert GRONA back to CRONA, as your tokens are valued as if they were still CRONA while inside the CronaSwap ecosystem.
GRONA can only be acquired with CRONA on the Golden CRONA page. CronaSwap offers users several different options to take advantage of their GRONA holdings:
1) Vote on CronaSwap DAO governance proposals or create a community proposal based on the amount of GRONA tokens held*
2) Stake GRONA in special GRONA-only Staking Pools to earn CRONA, or other partner tokens
3) Participate in special GRONA-only allocations in Initial Dex Offerings that are separate from the standard CRO allocations
4) Engage in passive farming by earning a proportional share of a 2% reflect fee generated each time GRONA is transferred*
For more information on how to use GRONA, visit the GRONA Utility page.
GRONA is a reflect token, with a 2% transfer fee. This means that any time CRONA is moved from wallet to wallet, staked into a Staking Pool, or otherwise transferred, 2% of the amount transferred is distributed proportionally to all other users who hold GRONA in their wallet (i.e., not staked in Staking Pools).
GRONA is ultimately backed 1:1 by CRONA, and can always be exchanged for CRONA. Since GRONA is valued at 1.389x CRONA within the CronaSwap ecosystem, users realize the difference in value between GRONA and CRONA only when converting GRONA back to CRONA.
Sold GRONA is returned to the treasury fund and ultimately available for purchase from the next person that wants GRONA. As a user, you get 0.98 CRONA per GRONA when you return to CRONA, after accounting for the 2% reflect fee. New GRONA is minted only if there is no existing supply in the treasury to fulfill sell requests.