Cronos Rebrands Trading App as Ult, CEO Ryan Wyatt Unveils New CRO Strategy

Cronos Rebrands Trading App as Ult, CEO Ryan Wyatt Unveils New CRO Strategy — Source: CoinGape Cronos rebrands its trading app as Ult, expanding beyond crypto into prediction markets, perpetuals and tokenized assets. Ult targets 100+ countries with 24/7/365 trading, 10 sports prediction categories and around 40 leveraged markets at launch. Cronos Network could see more trading flow as Ult brings users, assets and liquidity into the ecosystem, with plans to move more markets onchain as volume grows. Cronos, the blockchain ecosystem associated with Crypto.com, is reshaping its product strategy around a new trading application called Ult. It has introduced a revenue-linked mechanism designed to support its native CRO token. Cronos CEO Ryan Wyatt announced the changes on X, saying the new strategy is intended to provide greater clarity for users and developers. It aims to put a stronger focus on products that generate value for CRO. Cronos is rolling out a series of changes to its ecosystem. It has reviews its product strategy, tokenomics, and approach to driving value back to CRO. The proposed changes include a rebrand of its trading app, a new revenue model, a sharper focus for Cronos Labs, and changes to its token burn mechanism. Source: X Post What is the New Cronos Strategy As per official announcement, the new strategy aims broaden the fucntion of cronos from just a onchain wallet. Previously associated more closely with the Cronos brand, will now be called Ult, short for “Ultimate.” The app is scheduled to launch globally on September 17 on iOS and Android. It will be supporting prediciton, trading of tokenized stocks and perps market too. The new Cronos strategy focuses on turning Ult and Cronos Launch into the main products driving value back to CRO. Cronos Labs proposes that 100% of revenue from both products be used to buy CRO on the open market and burn it. The operating and growth costs will be funded from existing capital. The strategy also aims to bring more users, assets and trading activity into Cronos Network, with Ult serving as the main trading and distribution layer. Cronos Labs will focus its development on Ult, Cronos Launch, VVS Finance and the underlying network. The other projects will be sunset over the coming month. Image The strategy also introduces Cronos Launch, a token launchpad designed to bring new projects into the ecosystem. Cronos Launch will not have a separate native token. Instead, fees generated by token trading on the platform are proposed to flow entirely toward CRO purchases and burns. This gives Cronos two potential revenue streams feeding the same tokenomics mechanism: Ult trading and Cronos Launch activity.