Cronos has approved Cronos POS governance proposal #37, with voter participation at 48.36% and 99.78% of votes cast in favor. The proposal says 100% of revenue generated by Ult and Cronos Launch will be used to buy CRO on the open market, with the tokens then burned on-chain every month. Transaction hashes tied to those buyback-and-burn operations are set to be disclosed publicly. The proposal also calls for using the Strategic Reserve to supplement future Cronos POS staking rewards. At the same time, the measure is described as a signaling governance proposal rather than an executable one, meaning it does not include executable messages and will not directly change on-chain parameters. Product revenue is already trackable, while the buyback-and-burn contract and the related automation mechanism are still under development, according to the item cited by Techub News.
Techub News reported that Cronos POS governance proposal #37 has passed, with voter participation reaching 48.36% and 99.78% of votes cast in support.
Under the proposal, 100% of revenue from Ult and Cronos Launch will be used to purchase CRO on the open market, and the tokens will be burned on-chain on a monthly basis. The related transaction hashes will also be made public.
The proposal also says the Strategic Reserve will be used to supplement future Cronos POS staking rewards.
At the same time, this is a signaling governance proposal. It does not contain executable messages and will not directly alter on-chain parameters. Product revenue is already trackable, while the buyback-and-burn contract and the related automated execution mechanism are still being developed.
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