MCO Visa Cards Update – MCO/CRO token swap today announced a token swap for their MCO tokens, where token holders for their MCO Visa cards will have until 2 Nov 2020 to swap their MCO tokens for CRO tokens on the App.

This announcement was made to combine the two tokens in their ecosystem into a single token for their upcoming CRO mainnet.

There will have no changes to the functionalities of MCO as of this post.

Once the deadline is reached, you cannot buy or sell MCO through the app or transact with it on the app. However, deposits and withdrawals will still be supported.

The swap is pegged at 1 MCO = 27.6 CRO has used the 30-day volume weighted average price in USD of both tokens to determine the swap formula.

Swap formula for the MCO to CRO swap

Swapping before 2 September 2020 will grant you a 20% early swap bonus, distributed on the exchange and staked for six months, resetting any remaining time on your exchange stake (if you have one).

Screenshots on how to swap your tokens

You can read more details about the swap in their announcement.

New MCO Visa Card Tiers

Update (4/8/20): The changes makes it slightly cheaper to own the MCO card now. Use this free spreadsheet to model with the variables.

If you do not have an MCO stake before the MCO Swap, the MCO Visa Card staking tiers will be changed according to the following staking tiers:

New CRO staking tiers as of 4 August 2020

In the table below, I compare the price changes of owning the MCO Visa Card, MCO/SGD rate used was before the price pump.

MCOin SGDCROin SGDChange (%)
Icy White/Rose Gold5,000$25,000100,000$22,000-12%
Obsidian Black50,000$250,0001,000,000$220,000-12%
Comparison between old vs new cost of owning MCO cards

Following the above changes, all cashback rewards (including Spotify, Netflix, Airbnb, Expedia and reimbursements) will be paid in CRO.

MCO tokens have had their price depressed for some time now, and prices of CRO tokens has more than tripled during the past 3 months – perhaps in anticipation of this swap.

Early MCO adopters who held their MCO tokens since inception have been heavily penalized by the program changes.

We will have to see what happens from here. The crypto space isn’t regulated so expect a wild west of rewards, risks and constant program changes.

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  1. hmm..i still dont know if this is a good or bad thing for exisiting MCO holders. btw, would it be an autoswap to CRO by 2nd Sept deadline? or we need to do it manually?

    i guess since the exchange rate is fixed, there is no rush to do it. it doesnt fluctuate till after the deadline right?

    1. I think it depends on how you look at it, since existing users got in early, they don’t have to pay the added premium for retaining the benefits. However, the sudden policy changes means this might not be the last round of changes.

      Yes, exchange rate is fixed, but doing it early gets you a bonus! You need to manually do it too

  2. Given that MCO pumped back to over 5$ the current offer even with the 20% bonus is a pretty shit offer. Don’t like this fixed rate, disappointing from a crypto company

    1. Yeah made the swap. I think CRO topups have been disabled because they are changing card issuers from Wirecard and haven’t gotten regulatory approval

      1. whats the best move for the CRO tthats “stuck” in the wallet?
        btwm the only way now seem to be BTC topup for MCO visa

        1. If you have Xfers linked, you can cash out by selling CRO to your fiat wallet and withdraw to your bank account. Otherwise, you can just sell it for other cryptocurrencies.

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