Cronos App said on X that it has rebranded to Ult, short for Ultimate, and will go live on Sept. 17. According to the announcement, the app will support several products on day one: spot trading for popular cryptocurrencies, trading in stocks, commodities and crypto perpetual contracts, a sports prediction market, and deposits made via Apple Pay, bank cards or cryptocurrencies. The team also drew a clear line around token-related claims, saying Ult will not issue its own token and that any token using the ULT name is unrelated to Ult, Cronos Labs or the Cronos Network. In the same post, the company said all revenue generated by Ult will be used to buy and burn CRO on the open market. It added that the team plans to carry out those transactions on-chain every month in the future and publish the transaction details publicly.
Cronos App said in a post on X that it has changed its name to Ult, or Ultimate, and will launch on Sept. 17.
According to the company, Ult will support several features on its first day, including spot trading for popular cryptocurrencies, stocks, commodities and crypto perpetual contracts, a sports prediction market, and deposits through Apple Pay, bank cards or cryptocurrencies.
The team also said Ult will not issue a token. Any ULT token, it added, is not affiliated with Ult, Cronos Labs, or the Cronos Network.
In the same announcement, the company said all revenue from Ult will be used to buy and burn CRO on the open market. The team said it plans to execute those transactions on-chain every month in the future and disclose the transaction details.
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