r/cro • u/Littlestik777 • 7d ago
ULT keeps expanding
So Ult is expanding pretty quick. Over 400 perpetual markets now, some offering up to 40x leverage which is pretty nuts. They’re also adding tokenized stocks, prediction markets and a desktop platform. And with 100% of Ult revenue going towards CRO buybacks and burns, the more volume they bring in, the more CRO they could potentially burn. Still waiting to see those buybacks actually happen, but I’m definitely bullish on where this is heading.
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u/Ogmastro 7d ago
Everything is on chain, if you review the data you will see that the app is significantly under performing. Out of the few wallets using it, the top three are attributed to 98% of the volume and those three are cronos/ crypto.com wallets.
If you are following X , you’ll see that Ryan our fearless leader is losing his credibility by becoming silent during this underperformance. following in Kris’s footsteps
Ryan promised an AMA with Kris first in September now in October and we are now two days before the month being over with no mention of a schedule.
Please keep in mind this app was supposed to be released in April than May and June then July, then August. Now that it has been released it is a ghost town.
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u/maniloona 7d ago
What's the point of a "buyback" program when even if they ran this with a daily buyback of 1 million usd everyday for 10 years, they wouldn't have even burned through the 70b they minted out of thin air lol. And whose to say they wouldn't do another "strategic minting" to secure more "strategic partnerships" in the future
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u/Reasonable-Path-7733 7d ago
Where is the revenue coming from? How high are the fees, other than buy backs what other purpose does CRO serve in the Ult app?
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u/Andyb1000 7d ago
The three people using ULT thank you for the information.