Crowny Partners With Raydium to Migrate to Solana

The protocol follows through with its plan based on which it picked up a grant from Serum earlier this year.

By
Anirudh Tiwari
on
December 4, 2021
Category:
Breaking News

Transition From ERC-20 to SPL

Crowny, an advertising platform, partnered with Raydium, a leading Decentralized Exchange (DEX) on Solana, on Dec. 2 to facilitate its migration from Ethereum to Solana.

The pre-planned migration to the Solana network entails that the $CRWNY token has to be listed on a DEX, i.e. Raydium. The partnership will allow CRWNY token holders to utilize the token for several things like providing liquidity, etc.

“What sets Raydium apart from the more traditional AMM’s is that liquidity in Raydium pools is shared to Serum’s central limit order book. This means that Raydium users have access to Serum’s DEX GUI so they can trade and set limit orders similar to a CEX, while at the same time, users of any Serum DEX GUI have access to Raydium liquidity,” explained the official blog about the reasoning behind why Raydium was chosen as a partner. “Adding the fact that being built on Solana makes every transaction cheap and fast, Raydium proves to be one of the preferred choices for both traders and liquidity providers.”
Source

The migration is set to happen on Dec. 8. The growth of liquidity is a big solid step forward for Crowny and Radium will hopefully be a fruitful partner. 

“Other than working as a team, one of our other main criteria was the ease of use. The interface Raydium provides works very intuitively. Once we became new users on Raydium, whether it would be for trading or liquidity providing or anything else, it only took us a few seconds to find and do everything we were looking for,” elaborated the blog further. “We expect our current ERC20 $CRWNY holders to have no difficulty moving around on the Raydium platform, but for our community members still wanting some reassurance, we will publish a step-by-step guide on how to buy and sell SPL $CRWNY on Raydium.”
Source

As previously reported by Solana.News, Crowny received a grant from the Serum fund on Apr. 14. The EcoSerum grant for the project gave it the boost required to become a full-fledged member of the Solana ecosystem. At the end of November, the protocol launched its own Loyalty Program for its users with CRWNY tokens.


What is Crowny?

Crowny is an advertising platform that allows brands to create effective campaigns in order to reach audiences who are incentivized to consume content. It is a smartphone application that allows users to connect to their favorite brands without the risk of privacy branches.

Find more about Crowny here:

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.