Cryptocurrency developers Cronos (CRO)previously crypto.com coin, they launched an update proposal Print 70 billion CRO -Tokens burned in 2021.
Such coins had been Burned ‘forever’. That is why the proposal has generated indignation in itself. However, the situation gets worse.
According to data on the chain, a large part of the community voted against the proposal. But Validators managed by the crypto.com -Brokerage itself voted in weight in favor of the coins of these 70 billion coins.
Cryptocurrency Cronos (CRO) presents a proposal to ‘revive’ burnt coins in 2021
The Cronos Cryptocurrency (CRO) was launched with 100 billion units and had sent 70% of the burnt offer, ie to an address where they can no longer be moved. However, the developers presented one Plan to re -circulate this 70 billion CRO.
THE Text found in Github That indicates that One of the goals is to make the CRO -Token from the 40th position in the cryptocurrency ranking and the top10Ignoring any effect that this inflation will have on the price of the coin.
This can have a connection with Strategic American cryptocurrency -Reservewho is planning to make purchases of the largest assets on the market.
It would be another point mentioned Obtaining the approval of an ETF in the US To stimulate the institutional approval of the token.
“To achieve these goals, we are of the opinion that it is also crucial to support the American goal to become the capital of cryptocurrencies. That is why we propose to assign 70 billion CRO in the Kronos Strategic Reserve Wallet wallet, which restores the total offer to 100 billion.”points out the proposal.
At the time of this essay there are Only 30 billion CRO in circulation.
With the help of the basic rules of the economy it is very likely that this will cause a huge decrease in the CRO price due to this inflation. Therefore, Most coins holders voted against the proposal.
“There is no way to be real. It’s not April 1. This proposal must be canceled and Cronos has to present something better think.”noted an investor.
“This is ridiculous. Use the funds you have earned by operating the broker and did not dilute your customers”Another commented.
“This will further destroy the already written off price of CRO. Just do the Kris [CEO da Crypto.com] Focus on the real usefulness of CRO instead of giving it to celebrities who only sell and promote memecoins. In essence, this is just a movement of hyperinflation. The community is very dissatisfied … Take a look at X. “
Crypto.com broker ‘Run’
Data on chains show that most Holders of Cronos (CRO) voted against the proposal. However, Validators managed by crypto.com broker himself voted in favor of the proposal near the end of the vote.
According to the information, The proposal was approved by 62.18% of the votes in favor17.61% against, 0.11% veto and 20.11% of the abstinence.
On social networks it is possible to find different criticism of the position of the broker. The comments of the messages from Kris marszalekCEO of crypto.com, are Prayer of complaints.
“Some clarity about CRO shares and 70b not burned? Many, including me, respect you, but long -term supporters feel in the dark. Influeless members of the community, including Youtubers and former proponents, feel alienated.”noted an investor.
“Kris must be considered the most despised and disappointing CEO and CO founder of a centralized exchange, characterized by the lack of transparency, disrespect for users and the presence of fraudulent projects on their platform.”said another.
“How is it possible to add 70 billion without AMA (ask me something) with the community? Crypto.com now seems to work more like a bank than as a blockchain company. If there is a need for funds, tokens seem to be randomly tamped.”commented on a third.
In the last 24 hours, token Cronos (CRO) Works in falling 8.1%. However, it is worth noting that the 70 billion coins will be unlocked in the coming 5 yearsWhich means that the CRO -Price should be a strong pressure in this long period.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
