Cronos Network said two tokenomics proposals have passed community voting, clearing the way for additional CRO burn measures and a new revenue allocation plan. The network said 228 million CRO from the Cronos community pool has already been burned, taking the cumulative amount destroyed to 428 million CRO.
Under the approved framework, 100% of revenue generated by Cronos Ult and Cronos Launch will be used to buy back CRO on the open market. Those tokens will then be burned on a monthly basis, and the related transaction hashes will be made public.
Cronos also said its staking reward mechanism will remain unchanged. Funding for those rewards will continue to come from the strategic reserve, according to the update cited by Odaily.
Two tokenomics proposals on Cronos have passed community voting, according to monitoring cited by Odaily.
Cronos Network said 228 million CRO from the Cronos community pool has already been burned, bringing the cumulative total burned to 428 million CRO.
Under the approved proposals, 100% of revenue generated by Cronos Ult and Cronos Launch will be used to buy back CRO on the open market. The repurchased tokens will be burned monthly, and the related transaction hashes will be disclosed publicly.
The staking reward mechanism will stay unchanged. Cronos said those rewards will continue to be funded by the strategic reserve.
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