- Earn Plus will allow users to allocate up to $1 million for every supported Earn token.
- Crypto.com’s revamped Crypto Earn programme also offers a unified reward rate and supports a payout structure for PayPal USD (PYUSD) and USDC Coin (USDC).
Crypto exchange Crypto.com has a new product designed to change the crypto earn landscape. Announced recently is Earn Plus, the crypto platform’s new earn programme tailored to benefit more customers.
What’s new in Crypto.com’s Earn Plus?
The exchange said in its announcement that Earn Plus will offer a simpler reward structure and higher allocations. The new Earn programme that introduces generous yields on two key stablecoins is available via the Crypto.com App.
🆕 A brand new Earn programme has launched in the https://t.co/vCNztATkNg App!
Introducing Earn+, enjoy:
➕ Generous yields on stablecoins
➕ Higher allocation limit
➕ Simpler earning structure
Check it out now in the App now! pic.twitter.com/f2yerlMBGv
— Crypto.com (@cryptocom) September 11, 2023
In terms of higher allocation limits, customers will enjoy up to $1 million for supported token. Raising the limit will allow clients to tap into the potential rewards that come with the ability to allocate more. Earn Plus’ simple rewards also greatly differs from the exchange’s current tiered program, with the same rate applicable to the principal amount rather than the discounted rates applied to amounts above the $3,000 threshold.
The single rate will apply to a customer’s entire allocation as per the terms of CRO deposit and lockup. In this way, Earn Plus users will find it easy to gauge total rewards.
According to Crypto.com, Earn now supports PayPal USD (PYUSD) and USD Coin (USDC) – the former a new stablecoin recently launched by payments platform PayPal. PYUSD and USDC have replaced the old USDC reward structure, with interest on the stablecoins pegged at up to 5% per annum.
Crypto.com’s move to unveil Earn Plus is a boost to the exchange, with its product coming at a time regulatory focus on the crypto market has included a crackdown by the US Securities and Exchange Commission (SEC) on products across the US. For example, crypto exchange Gemini recently criticised the SEC for its outlook on its Earn programme.