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Cronos Approves CRO Burn and Open-Market Buybacks
The completed 228 million CRO burn brings cumulative burns to 428 million CRO. Revenue from Cronos Ult and Cronos Launch will fund buybacks, with the tokens burned monthly.
The Cronos community approved two tokenomics proposals, completing a 228 million CRO burn and directing 100% of revenue from Cronos Ult and Cronos Launch to open-market CRO buybacks. The CRO bought back will be burned monthly.
The community-pool burn brings cumulative CRO burns to 428 million. Cronos Network will make each buyback transaction hash public.
Staking rewards will remain unchanged and continue to receive funding from the Strategic Reserve.
Simon Yoon
ReporterSimon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.