CROWD token serves as the fundamental unit of value and utility within the CrowdSwap ecosystem. It is designed to play a crucial role in shaping the project’s growth, governance, and user engagement. The token is endowed with versatile functionality that contributes to the project’s sustainability, community participation, and ecosystem development.
Decentralized Autonomous Organization (DAO) Governance:
CROWD token holders wield the power to actively participate in the decision-making processes of CrowdSwap’s development through a decentralized governance model. With a say in proposals, upgrades, and strategic directions, token holders can collectively shape the future of the platform. Voting on proposals for network improvements, feature prioritization, and protocol upgrades empowers the community to steer CrowdSwap’s trajectory.
VIP Club and Rewards System
The VIP Club offers a multi-tiered membership structure where token holders can access exclusive benefits and rewards based on their token holdings and engagement level. Different VIP levels grant access to premium features, enhanced rewards, priority customer support, and unique privileges within the ecosystem. As users accumulate and hold more CROWD tokens, they unlock higher VIP levels, fostering loyalty and engagement.
CROWD as Utility Token for Transactions
CROWD plays a key intermediary in cross-chain transactions, ensuring better pricing and increasing token flow. But how?
Our cutting-edge method leverages CROWD to transform your trading experience. When you perform a cross-chain transaction, your asset from the source blockchain is securely locked in a smart contract. This action starts a smooth, effective process. On the target blockchain, CROWD from our treasury obtains your desired token by tapping into various pools on multiple DEXs. CROWD thus acts as a liquidity provider, ensuring you receive the tokens in the destination account.
For example, if you want to exchange 100 MATIC from Polygon to BNB on the BSC, CrowdSwap deposits the MATIC in a smart contract. An equivalent amount of CROWD is then swapped in the CROWD/BNB pool. At the end, you will find your desired BNB in your wallet.
What happens to the entered-into-market CROWD in this feature?
In this context, a buyback algorithm reacquires the sold CROWD, choosing the optimal time after evaluating its market position. This is done to avoid any decrease in its value. The buyback mechanism deters CROWD's market manipulation, helping keep its value stable and healthy.
What is the advantage of this method?
As CROWD is the native token of CrowdSwap and we can repurchase it, we can offer the user better prices than other platforms based on market conditions and different plans, such as fee removal. A key benefit of this strategy is that users get back the exact token they provided without any replacement if a transaction is canceled. This enhances the user experience significantly.