Cronos Network said on Oct. 4 that two tokenomics proposals have passed, with 228 million CRO from the community pool already burned. The move brings the token’s cumulative burn total to 428 million CRO. Under the approved proposals, all future revenue generated by Ult and Cronos Launch will be used to buy back CRO from the open market, followed by monthly burns. Cronos also said all related transaction hashes will be disclosed publicly. The update lays out both the completed burn and the mechanism for future buybacks and burns tied to revenue from the two products.
Cronos Network said on Oct. 4 that two tokenomics proposals have passed.
The network said 228 million CRO from the community pool has already been burned, bringing cumulative CRO burns to 428 million.
Under the approved proposals, all future revenue generated by Ult and Cronos Launch will be used to repurchase CRO on the open market, with burns to be carried out on a monthly basis. Cronos said all related transaction hashes will be made public.
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