Leading crypto exchange Crypto.com is set to launch a promotional event for Shiba Inu, triggering a reaction from lead developer Shytoshi Kusama.
Crypto.com is preparing to launch a promotional event enabling its users to earn SHIB by staking Cronos (CRO). The exchange quietly unveiled the offering in its Crypto Arena without issuing an official announcement.
CryptoCom New Promotion for Shiba Inu
However, a user brought the initiative to the attention of Shiba Inu community members, notifying them that they can earn SHIB by ‘locking up’ CRO. Notably, the promotion is among the upcoming events on Crypto.com’s Crypto Arena.
According to the user, the staking exercise is expected to commence in the next 18 days, specifically by December 6, 2024. The exchange will open the staking platform on this date, allowing users to lock up their CRO tokens to earn SHIB rewards.
Shiba Inu Lead Reacts
Expectedly, the upcoming promo has attracted the attention of the broader Shiba Inu community, with Kusama characterizing the move as ‘very interesting.’
Besides being intrigued, Kusama’s reaction is part of efforts to raise awareness about the promotional event and encourage other SHIB community members to participate in the initiative.
Very interesting indeed https://t.co/Vy4TTEqxEq
— Shytoshi Kusama™ (@ShytoshiKusama) November 18, 2024
Interestingly, several members of the SHIBArmy have shown enthusiasm for the promo, with some users planning to stake their unused CRO when the portal officially opens next month.
CryptoCom Support for SHIB
Crypto.com has continued to throw its weight behind SHIB since it first listed the token in May 2021. This includes adding new trading pairs for SHIB, holding huge amounts of the token in its reserve, and promoting SHIB on the Google and Apple Stores.
It has also unveiled several initiatives to drive SHIB’s adoption, including announcing a $15,000 Bitcoin reward for the trading of meme-based cryptocurrencies like Shiba Inu.
Meanwhile, the upcoming staking initiative did not positively impact Shiba Inu’s price action. At press time, the token is trading at $0.00002523, down 1.14% over the last 24 hours and 12.92% in the past week.
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