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To burn or not to burn, that is the question! With aims to to enhance the $KARRAT token's scarcity and sustainability. The communities Burn/Bolster proposal is up for voting on WinVote. 3.6m/10.9m votes are in, just over 7m Votes still needed. You hold the power. Vote Now! https://t.co/jf1uyp332G
A Cronos governance proposal seeks to reissue 70 billion burned CRO tokens, valued above $5 billion worth. Most voters are currently against the plan. https://t.co/tEuEIwzZXE
🚨💰 Cronos proposes reissuing 70B CRO tokens ($6.3B) into a 5-year locked reserve wallet, sparking veto calls. • Critics warn of token dilution and centralization. • Funds target U.S. ETF prep and AI development. • Staking rewards to stay at 8% via inflation cuts.
Cronos, the blockchain ecosystem, has proposed to reissue 70 billion CRO tokens, valued at approximately $6.3 billion, which were previously burned in 2021. This move has sparked controversy and backlash within the community, with early voting indicating that 87% of participants oppose the plan. Critics have raised concerns about potential token dilution and centralization. The funds from the proposed reissuance are intended to support U.S. ETF preparations and AI development, while staking rewards are expected to remain at 8% through inflation adjustments. The proposal aligns with Cronos' long-term roadmap and ecosystem growth strategy, despite initial declarations that the 70 billion CRO burn would be final.