Deep Dive (Token): Cronodes
Cronodes: De-Fi as a service
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Disclaimer: I currently hold this token as well as several of the assets you can buy with the tokens (I am biased) so please keep that in mind when considering whether to buy or not. This article is not financial advice
The goal of this article: This article’s goal isn’t to convince you to buy or not to buy. Its goal is to summarize my research and provide links for you to do your own should the project interest you. It is designed to save you time with your initial research by presenting my overall research as a starting point for your own.
Note to Project Owners: If I have stated anything you disagree with please reach out, I would be more than happy to meet to better understand your perspective.
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Table of Contents
What you get
Nodes & Tokenomics
Published Road Maps
The goal of the Cronodes (CRN) project is to provide De-Fi (Decentralized Finance) as a service. This is similar to an investment group except instead of providing your funds to an investment group directly, in DEFI as a service you provide it by buying a token which you can then resell. Cronode sells CRN tokens & allows investors to use these tokens to purchase nodes that over time earn them CRN tokens. They also sell NFTs which can allow an investor to earn more via these nodes or to pay less in claim taxes when they claim the CRN generated by the node.
Of course, an investor doesn’t have to purchase nodes, they can purchase CRN tokens and directly hold them. The Cronodes project gains or loses value via the investments it makes and how they perform. The investments are bought using previously sold investment funds as well as funds acquired via people buying CRN tokens, CRN nodes, & paying node taxes.
What you get
By investing in this project you become indirectly investing in the projects that Cronodes has used their funds to invest in (can be found under investments). If you choose to purchase Nodes you also receive tokens over time at the cost of maintenance fees paid in CRO (The coin of the chain that Cronode is on). Eventually, the group also plans to implement a buyback bot that might allow investors to sell their nodes, allowing investors to potentially profit from buying a node. Lastly, if the investor chooses to buy a booster NFT (boosts the amount earned from nodes) or a tax reduction NFT (reduces the tax that exists when you claim rewards earned from nodes after 15 days) they can resell them to other investors/the project itself.
The Cronode project is located on the Cronos chain & is invested in the Cronos chain itself as well as several projects on the chain (listed above, link for current investments here: https://cronodes-finance.gitbook.io/cronodes/the-important-stuff/current-investments ).
The Cronode project currently has two types of NFTs available for purchase, tax reduction NFTs and booster NFTs
There is only one type of tax NFT which reduces claim tax by 50% after the 15 day time period (Nodes have a decreasing tax fee depending on how long you wait to claim the CRN, the longer you wait the lower the taxes, is covered in detail in the Nodes & Tokenomics section). Only 1 tax claim NFT can be applied per wallet but you can hold up to 10 if you wanted to resell them in the future.
The booster NFT has 3 types which can be seen below with their price (listed $ price is an approximation based on the CRO’s value at the time this image was created) and % increase in claim rewards. These NFTs dont stack as well.
Nodes & Tokenomics
When the project first started there was only one Node type which cost 20 CRN per node and returned 1 CRN per day with a max of 100 Nodes per wallet. The project has decided to change this by introducing Node tiers with varying costs, fees to run (a feature not present in the original Nodes), & return rates. They have made this change as they feel that the project has proven itself via their performance so far & that this change will make the project more sustainable for the long term. The original Nodes were transformed during this transition process into Tier 2 Nodes.
Listed below are the tiers and their associated information.
A couple of important notes relating to different sections in the above image:
Tax Tiers: The days listed are cumulative which means that after you wait 6 days in total to claim a node you pay 40% to claim, after you wait 11 days in total to claim a node you pay 30% to claim, and after you wait 16 days in total to claim a node you pay 10% (or while holding the tax reduction NFT 5%) to claim. Each node can be separately claimed meaning you dont have to claim everything at once if you own several nodes.
Monthly Node Fee: This must be paid to earn rewards from the Node & is paid in CRO, not CRN tokens. It can be paid in advance if you wanted to pay now rather than in the future.
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