What Is the Kromatika Token (KROM)?
Kromatika is a crypto trading decentralized platform where there is no involvement of any third-party middleman. The platform aims to enable its users to indulge in trading crypto items without any swap fees and price slippage.
The platform’s token comprises audited smart contracts to initiate trades and develop them. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. Kromatika's smart contracts interact with the user interface.
The utility token of the platform is KROM, which is an ERC20 token built on the Ethereum blockchain. Besides this, the KROM token employs off-chain decentralized services seeking to process trades, actively supported by chainlink keepers. Chainlink keepers seek to offer a decentralized network of nodes to users that get incentivized for carrying out all the registered tasks without competing with one another.
The KROM token seeks to enable users to trade digital assets and gain rewards for securing the trades of others. Users can employ the token to pay the service fees for all the DEX swaps on Kromatika. The service fee is paid by users and makes up for the processing services costs. The payment of the actual service fee is made in ETH as it is the actual cost of the gas fee or processing services. However, users always make payments with KROM tokens. Also, the token seeks to benefit its users in enormous savings on service charges, which is almost zero fees. Token holders aim to save a lot of money on service costs since they trade the token at the minimum possible price and pay the service fees when the token price rises.
History of Kromatika Token (KROM)
The launch of the KROM token took place in November 2021 on the Ethereum mainnet. Additionally, the platform also launched its DApp in January 2022.
The maximum total supply of KROM coins is capped at 100 million. A significant proportion of the tokens goes into the hands of the community.
