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MOUNTAIN VIEW, Calif .– (BUSINESS WIRE) – November 15, 2021–
Abra, one of the leading wealth management platforms for cryptocurrency investors, today announced that it will begin launching a new utility token, Crypto Perx (CPRX), to its clients as part of the program. recently launched Abra Perx Awards. The utility token, created by the new Crypto Banking Alliance (CBA), is the backbone of the Abra Perx program. Abra Perx is Abra’s new rewards program designed to maximize the performance of Abra customers and recognize them for their loyalty while creating new opportunities for engagement on the Abra platform.
As part of the token launch, announced at Token2049 on October 7, Abra is dropping 150 million CPRX (5% of the total CPRX supply) to its customers as a reward for previous actions in the product, referrals and actions of social sharing. On an ongoing basis, Abra customers will continue to receive CPRX for a wide range of account activities, including account creation, referrals, and use of Abra products.
“The token economy has grown incredibly over the past year and the demand is only increasing,” said Bill Barhydt, founder and CEO of Abra. “Our goal has long been to make the token economy easy and accessible to our customers, and we are proud to offer the Abra Perx rewards program and the CPRX token to make this goal a reality. We thank the CBA for its partnership to provide Abra customers with such a unique offering, and we look forward to continuing to reward our customers for their loyalty and to evolve the future of the bank.
When the token is launched, the CBA expects CPRX to be listed on several cryptocurrency exchanges and decentralized exchange (DEX) liquidity pools. The value of the CPRX token will be set by the market. The CBA minted 3 billion tokens in total and allocates one billion to Abra over four years.
By holding CPRX tokens in their account, Abra users will experience significant additional benefits from Abra’s rapidly growing crypto wealth management platform. Starting today, the Abra Perx program will provide all Abra customers with 60 days of enhanced reward rates, including:
- 2.5% cash back on all Abra Trade ™ transactions,
- 5.0% bonus return for all Abra Earn ™ funds,
- -5.0% Negative loan interest (lower effective rates) for any Abra Borrow ™ loan,
- A $ 15 ignition reward for new users who fund their account,
- $ 25 in referral rewards for inviting friends who fund their Abra accounts, and
- Airdrop CPRX recognizing historical usage of existing Abra users
Users can hold (or “stake”) CPRX tokens for additional benefits or exchange them through Abra Trade for Bitcoin, Ethereum, USDC or other assets supported by Abra. Users who continue to hold CPRX after 60 days will become eligible for ongoing rewards and new programs.
For more information about Abra and to download the app, please visit: https://abra.com/.
ABOUT ABRA
Abra is the leading wealth management platform for crypto. Abra’s mission is to create a simple and honest platform to help the next billion crypto holders maximize the potential of their crypto assets. Founded in 2014 by Bill Barhydt, Abra users earn high returns on their crypto assets, trade over 100 different crypto currencies, and borrow dollars for crypto holdings. Abra has processed over $ 1 billion in cryptocurrency-backed loans and made millions of dollars in interest payments to retail and institutional clients. Abra has raised more than $ 75 million in venture funding from American Express, Foxconn, Blockchain Capital, RRE Ventures, Digital Currency Group, and other top investors. For more information, visit https://www.abra.com/.
ABOUT CRYPTO BANKING ALLIANCE
The Crypto Banking Alliance, formed in Zug, Switzerland, under the name Auriga Alliance AG, was established to promote the secure and transparent application and adoption of cryptocurrency technologies as an essential component of the future of banking platforms. The Alliance aims to educate the public on the opportunities offered by cryptocurrencies and decentralized finance (“DeFi”) on the future of banking. The Alliance will provide educational tools, promotional programs, technology tools, code samples and frameworks for the safe and ethical adoption of DeFi technologies such as cryptocurrencies and smart contracts. Our vision is a global movement towards decentralized financial systems that align community and personal agency in a way that allows global access to all who wish to participate.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211115005357/en/
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY FINANCE SOFTWARE INTERNET BANKING
SOURCE: Abra
Copyright Business Wire 2021.
PUB: 11/15/2021 08:30 / DISC: 11/15/2021 08:31
http://www.businesswire.com/news/home/20211115005357/en
Copyright Business Wire 2021.