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Where is the revenue coming from? How high are the fees, other than buy backs what other purpose does CRO serve in the Ult app?

I've been poking around ULT last week, interface is not bad actually. The 40x leverage is crazy but i stay away from that, lost too much money already at other platforms with high leverage. The buyback mechanism sounds good in paper but like you said, we need to see it actually working before celebrate. I think if they get even just few hundred regular traders, the CRO burns could become noticeable. Most people just complain without trying the product first.

So Ult is expanding pretty quick. Over 400 perpetual markets now, some offering up to 40x leverage which is pretty nuts. They’re also adding tokenized stocks, prediction markets and a desktop platform. And with 100% of Ult revenue going towards CRO buybacks and burns, the more volume they bring in, the more CRO they could potentially burn. Still waiting to see those buybacks actually happen, but I’m definitely bullish on where this is heading.

You are not "free to withdraw anytime" since even after the stake ended, your CRO are still locked for 28 days if you want to withdraw.

After your 1 year stake, you’re now free to withdraw the CRO and sell it. They changed it recently so that this period post-maturity you only earn half the APR, but the upside is you keep the card benefits and are free to withdraw anytime. It’s simply a tradeoff between flexibility vs. double the earn rate

No it’s not a trap BUT seeing that CRO is and has been on a steady depreciation. I do think it’s a waste staking at this point. Plus, they took away the rewards that made it worth it. I just got this option two days ago and I unstaked it. I put in 500 just to test it and all I have is 170 now. It’s not worth it when I can invest it toward a stock that pays dividends or just put it in bitcoin.

Should be £150,000 in CRO.

Should be a £20,000 CRO prize pool.

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What platform … he didn’t manage to launch a thing, just burned money on the domain and Superbowl ad. Although I assume majority of that domain was paid in CRO or some similar scam scheme.