Cronos is renaming its trading app to Ult, with the new platform set to launch globally on September 17 and a proposed strategy that would direct 100% of Ult and Cronos Launch revenue toward buying and burning CRO.
Cronos Labs CEO Ryan Wyatt announced the changes as part of a broader strategy for the ecosystem, while Crypto.com CEO Kris Marszalek backed the launch and said Crypto.com supports the new direction.
The strategy separates the app, blockchain, and token names. Ult is the trading app, Cronos Network is the underlying blockchain, and CRO remains the network’s token. Ult will not have its own token.
Ult Launches With Trading, Predictions and Perpetuals
Ult will launch on iOS and Android in more than 100 countries on September 17, although available markets and features will vary by jurisdiction.
At launch, the app will offer spot crypto trading, sports predictions, perpetual contracts covering crypto, stocks, and commodities, and Universal Deposit for funding accounts through crypto, Apple Pay, and cards.
| Feature | What Ult Offers |
| Spot Trading | Spot listings for selected crypto assets |
| Perpetuals | Perpetual contracts covering equities, commodities, and crypto |
| Sports Predictions | Sports prediction markets covering 10 categories |
| Universal Deposit | Fund accounts using Apple Pay, cards, or crypto |
Table 1: Key trading and funding features available when Ult launches on September 17.
The name change is intended to better reflect the range of markets available through the app. Wyatt said much of what is available through Ult does not run on Cronos Network, so the previous Cronos app name could give traders the wrong impression about what they could access.
100% of Ult Revenue Would Buy and Burn CRO
The main tokenomics change is a proposed rule that would send 100% of Ult and Cronos Launch revenue toward buying CRO on the open market and burning it.
Wyatt said the planned purchases and burns would be automated and carried out on-chain, with transaction hashes published publicly.
The strategy is part of the first set of tokenomics proposals announced for the Cronos ecosystem. The plan still requires governance approval.
Cronos Launch is the ecosystem’s new token launchpad and will operate alongside Ult. The launchpad is intended to give developers a clearer path to launching tokens within the Cronos ecosystem. Wyatt also said developers will receive information on the token launchpad and the criteria for potential Crypto.com listings.
Cronos Labs Will Sunset Other Projects
The strategy also marks a major shift in how Cronos Labs plans to allocate development resources.
Wyatt said Cronos Labs will focus on Ult and products that drive 100% of revenue to CRO, while other Cronos Labs projects will be sunset over the coming months.
He advised users to follow individual projects for their own announcements regarding the changes.
The move could affect several existing projects across the Cronos ecosystem as the organization shifts its focus toward products that directly support CRO through revenue generation.
Kris Marszalek Backs the New Direction
Crypto.com CEO Kris Marszalek publicly backed the strategy, highlighting the upcoming Ult launch, the Cronos token launchpad, and the plan to direct 100% of Ult revenue toward CRO buybacks.
The Crypto.com CEO said the company supports the new direction from Wyatt and his team, adding that he expects the ecosystem to see more community tokens and listings on Crypto.com.
Developers Get New Path Toward Crypto.com Listings
Wyatt also outlined several changes aimed at developers building on Cronos.
The strategy will establish clearer eligibility requirements for projects seeking consideration for listings on Crypto.com. Cronos also plans to provide equal treatment for developers using other launchpads and for tokens that already exist on Cronos Network.
The ecosystem will continue using familiar EVM tooling, while developers will have access to Cronos Network’s settlement infrastructure, native USDC, and integrations with Crypto.com’s onramp and offramp services.
What Comes Next
Ult is scheduled to launch on September 17 on iOS and Android. The proposed CRO buyback-and-burn strategy will still require governance approval.
The key decision will be whether CRO holders approve the plan to use all Ult and Cronos Launch revenue for CRO purchases and burns. If approved, the strategy would create a direct link between activity on the new products and CRO supply.
What This Means for You: Ult is replacing the former Cronos app, but it will not have its own token. The main change for CRO holders is the proposed plan to use Ult and Cronos Launch revenue to buy and burn CRO if the governance proposals are approved.
