Crypto.com launched Supercharger on their exchange in September 2020. The first project to launch on Supercharger was UniSwap with an impressive $500,000 USD allocation. Their latest Superccharger event is Efinity, which has an allocation of $400,000 USD, providing an impressive 10% APY.
Supercharger is a simple, flexible, and secure liquidity mining platform for the most popular cryptocurrency projects, such as UniSwap, Polkadot, and Bitcoin. Users receive tokens (as rewards) for depositing CRO tokens into the Supercharger pool. Any verified Crypto.com Exchange user is eligible to participate as long as you have some CRO to deposit!
In this Supercharger review, I explain the whole process of how Crypto.com Supercharger works, from buying and depositing CRO to then claiming your rewards.
What is Crypto.com Supercharger?
SuperCharger is a simple, flexible, and secure liquidity mining platform for the most popular crypto projects. The platform was created by Crypto.com the one-stop shop for crypto. Supercharger, available via the Crypto.com Exchange enables Crypto.com users to deposit CRO and farm coins from the most popular crypto projects.
The platform is simple to use and requires only a single click. Simply deposit the Crypto.com CRO token into the Supercharger in order to mine tokens and earn daily rewards.
How does Crypto.com Supercharger work?
When a Supercharger event is in the “Charging Period”, users can deposit and withdraw tokens from the liquidity pool as often as they want. A charging period is between 30-45 days. Plus there’s a minimum deposit of 100 CRO which users can deposit from their Crypto.com exchange spot wallet
Then the “Reward” or “Distribution Period” is for the next 30-45 days and starts after the Charging Period. Users’ rewards are based on the liquidity score they accumulated during the Charging Period. Rewards are distributed evenly on a daily basis during the Reward Period and are prorated based on a user’s share of the total liquidity pool. These tokens are sent back to your Crypto.com exchange spot wallet.
So, all you need to do is deposit your tokens into the liquidity pool and charge for the duration of the charging period. Then you will receive reward tokens every day during the Rewards Period.
What Tokens Can I Earn with Supercharger?
With Supercharger, you can farm some of the most popular cryptocurrency and DeFi projects. The first project that ever launched on Supercharger was the Uniswap UNI token with a 500,000 USD allocation. They’ve since launched successful events with the likes of Polkadot, DOGE, and Bitcoin.
Their latest project is with Efinity (EFI). Providing a token allocation of $400,00, with an estimated APY of 10%.
Who Can Use Supercharger?
Any Crypto.com App or Exchange user can use Supercharger. Except for residents and citizens of Hong Kong SAR, Mainland China, and the USA. If you don’t already have a Crypto.com account click here.
To get started, you’ll need to be verified to starter level or above. Plus, you’ll need to have some CRO available in your exchange spot wallet to deposit.
With Supercharger, there is a minimum deposit of 100 CRO per deposit. Users are allowed to make multiple deposits too without any costs. There are no maximum limits of CRO that you can deposit.
The Crypto.com Supercharger platform boasts zero fees. You will need some CRO to deposit. However, unlike a lot of liquidity mining platforms, there are no gas fees to pay. Meaning no extra costs eating into your profits.
Where Can I Buy CRO Tokens?
If you don’t have any CRO to deposit into the Supercharger, you can trade for these using the crypto.com exchange site (or app) where they have a range of trading pairs available for CRO.
Alternatively, you can use their “DEFI Swap” platform. However, just be aware that tokens deposited as liquidity in the pool will not count as staking.
How Is the Liquidity Score Calculated?
Crypto.com takes an hourly snapshot of the liquidity provided, per user. Throughout the “Charging Period”, one snapshot of the liquidity pool would be taken every hour and the liquidity provided by each user is logged.
Then they calculate the total liquidity provided per user. At the end of the Charging Period, they add up the liquidity provided by each user every hour during this period.
What is the Acceptance Period?
The acceptance period is a really important part of Supercharger. This is because it can affect the number of rewards you will receive.
Immediately after the charging period ends they’ll determine your liquidity score and the rewards you’ll receive. Once this is confirmed, you have the option to accept it any time before the “Acceptance and Reward Period” starts.
To ensure that you receive the full reward amount allocated to you, it’s important that you log in to the exchange and accept before reward distribution begins.
If you fail to accept your reward allocation (before reward distribution begins) you lose a portion of your rewards. to be distributed. If this happens you’ll still be entitled to the remaining portion of your reward allocation. However, you will need to log into the exchange and accept your reward allocation.
How to Accept Your Supercharger Rewards
To receive the full reward allocation, you’ll need to log into the Crypto.com Exchange site and accept your rewards. This can only be done once the charging period is complete.
- Firstly, log in to the Exchange and head to your “Balances”. Then click on “SuperCharger”.
- Ensure that the “SuperCharger” tab is selected on the left and locate the event.
- Simply, accept your allocation by ticking the box and your rewards will then be issued daily.
To find out more information on the Exchange or to sign-up to Crypto.com click here.