“Staking CRO tokens enabled rewards for users and incentivized the use of their debit card,” shared Edson Ayllon, Product Manager at dHEDGE, in a Telegram message. “Reducing cashback rewards reduced the intrinsic value proposition of CRO. “This is similar to how DeFi protocols use liquidity mining to attract assets. It’s often intended to bootstrap liquidity, and we see in DeFi that when the incentives dry up, often the token price takes a hit.”
Source: https://www.coindesk.com/markets/2022/05/02/cryptocom-slashes-card-rewards-cro-tokens-drop-11-as-community-reacts/?utm_medium=referral&utm_source=rss&utm_campaign=headlines