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  • >Opinion: Is the Outrage Behind MCO’s Crypto Swap Justified?

Opinion: Is the Outrage Behind MCO’s Crypto Swap Justified? just orchestrated a highly controversial token swap between their two signature tokens. The MCO token is being decommissioned in favour of the newer token CRO. ICO’d by selling the MCO token to its investors, now they are retiring the token through a token swap.

The ecosystem and exchange entered a maintenance period on August 2nd. When the new version of the app was released, the users were faced with a decision. The MCO token will be auto-swapped in 90 days (November 1st), or you can swap early for a 20% bonus. The swap is being received by the community in a variety of ways. There is no shortage of negative sentiment from MCO investors. Reddit and Telegram channels are on fire with questions and expressions of disbelief for the way that the events transpired.


two hands as they swap currency

The MCO Coin Swap Explained

It will be useful for the completeness of the article to explain the sequence of events leading up to the MCO token swap, as well as the economics of the swap itself. Please keep in mind that the following interpretations of the events are the opinion of the author, and not representative of the narrative put forth by

Months Leading up to the Token Swap

In the months that lead up to the token swap, there was no indication from that their MCO token would be discontinued. In fact, led investors to believe that they were simply focusing on CRO for the time being. MCO has been trading sideways, despite the numerous positive sentiments of long term MCO holders. As the price fell, many MCO investors saw this as an opportunity to increase their holdings in order to unlock the next tier of VISA debit cards. Goes Into Maintenance for MCO/CRO Token Swap

The final swap was completed at a rate of 1 to 27, with an optional bonus of 20% bringing the ratio to 1 to 33. For MCO investors that bought at a price higher than about $5.50 USD, this is an outright loss. For everyone else, it is a gain. However, there is a caveat. CRO has been rising aggressively since the launch of the exchange earlier this year. CRO began the year at a price of $.03, and since then has more than quintupled in value.

One reddit user accurately pointed out that in order for this token swap to be maximally beneficial to, CRO needs to be high, and MCO needs to be low.

VISA Debit Card Readjustment

Users that have already achieved higher tiers of the VISA debit card get to maintain their current tier. For the MCO investors that were building their holdings to unlock higher tiers, they will now save to save much longer. In order to unlock the VISA Debit cards, you will now have to hold CRO. In terms of dollar value, the tiers are now 4x more expensive than they were before. This adjustment would make sense, if the token swap was performed at a higher ratio. What has done was penalize those who were saving for higher tiers by putting the cards further out of reach.

Highlighting the Positive Aspects of the Token Swap

As controversial as the token swap may be, there are some obvious positive aspects to come out of it.

  1. The entire ecosystem becomes much simpler
  2. The MCO/CRO swap only has to be done once is being built with the ethos of accelerating the adoption of cryptocurrency worldwide. Most newcomers take their time understanding how Bitcoin works. The fact that has a two token system significantly complicated their job in terms of educating their users. Now that there is a single token that drives the entire platform, its utility is more easily understood. Furthermore CRO actually inherits, or absorbs the utility previously held by MCO. has been building the tokenomics of CRO in various ways since the launch of the exchange in 2020. A strong emphasis on staking, and locking tokens is built into almost every aspect of the platform. Users could earn a 20% APR on their CRO deposits by locking them within the exchange. Users also earn additional cashback from spending their CRO tokens. Aside from this, users pointed out that there is little utility to the CRO token. By infusing the MCO benefits into the CRO token, the tokenomics of CRO make much more sense. It is like the missing piece of the puzzle for CRO. has done a lot to build trust with their user base. However, it appears that many MCO holders are severely unsatisfied with how has decided to conduct the swap. In my estimation, knew that a portion of its user base would be significantly upset with the swap. This is a risk, and a loss that was prepared to take.

Looking Forward for

In hindsight, this move for should have, and was expected by many. The crux is the final swap ratio that was decided by Many believe that MCO holders, (me included) are getting the short end of the stick when it comes to the swap. That being said, I believe in the fundamentals that has demonstrated. This event doesn’t touch’s strict adherence to security. has the most insurance out of any cryptocurrency platform in the world. Their customer service was still exemplary during the Wirecard scandal. The various VISA debit card perks are still available, albeit slightly further out of reach. The exchange is still in BETA, and their main blockchain is set to launch later this year.

The potential for to follow through on their promise of mass adoption is still very much alive. Bridges may have been burned, as the MCO swap has outraged investors. Still, I prefer to look to the future, and recognize that the entire cryptocurrency ecosystem is young. I still believe that has the ability to lead millions of people safely, securely, and confidently into the mass adoption of cryptocurrency.

The author of this article is invested in both CRO and MCO and is an active user of the ecosystem. The opinions expressed in this article as solely his own. 

Cronos (CRO) Overview

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About the Author

Keegan Francis

Keegan Francis is a cryptocurrency knowledge expert and consultant. He recognized the opportunity in cryptocurrency early in his career and has been invested in it since 2014. His passion led him to start the Go Full Crypto, a project that documents his journey of totally opting out of traditional financial services. Keegan has been living entirely off of cryptocurrencies since 2019.

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