The Abra Perx Program will be changing on May 31st, 2022. What changes are coming to the Abra Perx program?
Abra Perx is a rewards program designed to benefit Abra’s users for performing qualifying activities, like trading, borrowing, and earning interest with Abra. Abra Perx rewards users with Crypto Perx utility tokens (CPRX) for completing those activities. CPRX can in turn be used to reap additional benefits on Abra’s platform.
Abra has partnered with the Crypto Banking Alliance (CBA). CBA has the objective to democratize global banking, which strongly aligns with Abra’s vision to create an open, global financial system that is easily accessible to everyone.
CBA will grant its members (including Abra) CPRX with the objective to significantly boost adoption and usage of retail crypto banking capabilities across its ecosystem. CBA will create a total of 3 billion CPRX tokens and grant Abra 1 billion to power Abra Perx. Abra anticipates that CPRX will be listed on several cryptocurrency exchanges and DEX liquidity pools.
Crypto Perx (CPRX) is an ERC-20 token and will behave like any other crypto asset in an Abra wallet.
What are the tokenomics of the CPRX token?
The Crypto Banking Alliance (CBA) has created and is managing the supply of Crypto Perx (CPRX). CPRX is the world's first fully decentralized loyalty token.
- CPRX total supply is 3 billion CPRX.
- Abra has been granted 1 billion CPRX (33% of total supply) over 4 years. Each year the size of Abra’s grant decreases by 35%.
- In the first year, Abra will distribute 426 million tokens and is in the process of distributing a 150 million CPRX airdrop to historical Abra users.
- In year two, year three, and year four, Abra will be granted 277 million, 180 million, and 117 million respectively.
- Abra will never sell CPRX for corporate funding. Any monetary benefit to Abra from CPRX will come as a consequence of the added value Abra delivers to users.