Arbitrum Ecological AMM Protocol ‘Chronos’ Announces Token Allocation Details

04/19/2023 04:15 • Tech Ticker • 142 views

On April 19th, it was announced that the Arbitrum Ecological AMM protocol, Chronos, has released detailed rules for token allocation and air drop, with plans to allocate 53% of the initial supply to over 16000 users. It is reported that the initial supply of CHR is 50000000 pieces. 9% of the initial supply will be allocated to CHR NFT holders, 25% to partner agreements, and 21% to veCHR users for air drop.

Arbitrum Ecological AMM Protocol Chronos Releases Token Allocation and Airdrop Rules

The Arbitrum Ecological AMM protocol, Chronos, has recently released detailed rules for token allocation and air drop. This announcement comes as the project gears up for its official launch. Chronos has plans to allocate 53% of the initial supply to over 16,000 users. In this article, we’ll delve deeper into the token allocation and air drop details, helping you understand how the token distribution will work.

Token Allocation Details

It is reported that the initial supply of CHR (the native token of Chronos) is 50,000,000 pieces. Of this amount, 53% (or 26,500,000 CHR) will be allocated to over 16,000 users. The exact breakdown of the allocation is as follows:
– 25% (or 6,625,000 CHR) will be allocated to partner agreements.
– 21% (or 5,565,000 CHR) will be allocated to veCHR users for air drop.
– 9% (or 2,385,000 CHR) will be allocated to CHR NFT holders.
The remaining 45% of the initial supply will be reserved for the project’s development team.

Air Drop Details

Chronos has announced that they will conduct three rounds of air drops. These rounds will take place on April 21st, April 28th, and May 5th. Participants will be chosen at random from the pool of registered users.

Round 1 (April 21st)

The first round of air drops will see 2,625,000 CHR tokens distributed to veCHR users. The specific criteria for veCHR eligibility are as follows:
– VeCHR value must be ≥ 0.1 ETH.
– VeCHR value must be held in participating wallets.

Round 2 (April 28th)

The second round of air drops will see 2,625,000 CHR tokens distributed to veCHR users. The specific criteria for veCHR eligibility are as follows:
– VeCHR value must be ≥ 0.01 ETH.
– VeCHR value must be held in participating wallets.

Round 3 (May 5th)

The final round of air drops will see 2,315,000 CHR tokens distributed to users who have registered for Chronos membership.

Conclusion

The release of these details is a critical step in the launch of Chronos. This announcement ensures that the initial distribution of CHR tokens is fair and transparent. As we approach the protocol’s official launch, we can expect significant developments in the AMM market. Stay tuned for more updates!

FAQs

What is Chronos?

Chronos is an Arbitrum Ecological AMM protocol that offers high-efficiency, low-slippage, and liquidity aggregation services for DeFi traders and investors.

What is Arbitrum?

Arbitrum is a Layer 2 scaling solution for Ethereum. It is designed to improve scalability and reduce transaction fees.

What does AMM stand for?

AMM stands for Automated Market Maker. It is an algorithmic model for decentralized exchanges (DEXs) that uses smart contracts to replace traditional order books.

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