Crypto.com Cardholders' Benefits Got Slashed - The Story Continues...
I wrote in my most recent post about the slashed benefits for crypto.com cardholders. At the time of writing my article, the company had already partially backed down and still included some staking rewards for the mid-higher card tiers, after their initial plan was to cut them off entirely.
But here comes another update, with more concessions made to the mob. That's how they feel at least, even if they talk about community and listening to feedback.
It's not the first time I have had this feeling from them. That they push it to the limit, and then they back down under pressure.
Now, there are two ways one can see this. That they needed the proposed cut benefits, in which case they are running at a loss, or they are pushing to the limit to see how much opposition they get and then they negotiate their way out of the situation by backing down (in appearance) to a level they considered sustainable in the first place. And the community feels like they won the battle by making them back down, while they still have lower benefits than before.
The second option would be very much like what politicians do.
So, what did the mob (including myself) get this time around?
1. Revised Reduction of CRO Rewards
Compared to the initially proposed reductions, both tiers get an additional 0.5% CRO rewards for the active stake. Royal Indigo / Jade Green loses 0.5% CRO rewards when they have no stake (which is a good tradeoff for me, not sure about others).
Midnight Blue, the tier with no staking required, still doesn't get any CRO rewards.
Compared to before the proposed changes, all three tiers will still lose 1% off of their CRO rewards. Higher tiers will lose more though.
2. Cardholders Who Have an Active Stake by the End of May Will Continue to Earn Rewards at the Current Rates
This works for people who already have active stakes or those who decide to stake in the meantime, until the end of May.
It also works if you want to upgrade to a higher tier, or if you unstake and restake to the same tier, but not if you restake to a lower tier.
Pay attention, if you want to unstake and restake to the same tier, tier levels are in USD, and CRO price is waay down!
After the initial decision that left no room to maneuver (only existing active stakes still benefited from current rates), this one introduces more flexibility, but the result is the same, only postponed by a few months.
3. Free Card Reissuance
This one is important for anyone wanting to upgrade their card to a higher tier because the reissuance fee is $50. They are currently waiving this fee temporarily.
They also updated their blog post.
I used screenshots from the email they sent out to customers.
Posted Using LeoFinance Beta