“The proposal to release 2021 70 billion CROs of Crypto.com Cronos blockchain with Crypto.com has received approval with the active participation of the exchange. Source: MINTSCAN. The initiative gained 62.2% of the vote for. The quorum was 70.6% with the required threshold of 33.4%. Now, as a result of the subsequent update of the March 18 minutes, the total volume of the asset’s offer will return to the initial 100 billion CO. Redumented coins worth ~ $ 5.9 billion at the time of writing will be strategic […]”, – WRITE: Businessua.com.ua
The proposal to release 2021 70 billion CROs of Crypto.com Cronos blockchain with Crypto.com has received approval with the active participation of the exchange.
Source: MINTSCAN.
The initiative gained 62.2% of the vote for. The quorum was 70.6% with the required threshold of 33.4%.
Now, as a result of the subsequent update of the March 18 minutes, the total volume of the asset’s offer will return to the initial 100 billion CO.
Reduced coins worth ~ $ 5.9 billion at the time of writing will be a Cronos strategic reserve. Tokens will be placed in an escrow wallet with a five-year period Westing. Unlock will be in stages – monthly tranches of ~ 1.17 billion Cro.
The Cronos team, which put forward the idea of restoring the volume of issue, explained this step in the need for funds for the implementation of key points presented in February by Crypto.com road card and blockchain ecosystems.
Users generally adopted the initiative to increase the CRO issue limit. Leading Unchained Laura Shin noted that during the majority of March 2-16, the number of votes for “for” was slightly exceeded the number of “against”. At the same time, the proposal did not collect the quorum.
For most of the proposal’s voteing period, which Ran from March 2-16, the yes votes of vares barely outstrified the nos, but the Project Didn’t Reach the Quorum of Vots Needed.
– Laura Shin (@laurashin) March 17, 2025
The day before the end of the vote, the controlled Crypto.com large validators who “poured” at once 3.35 billion Cro. This ensured overcoming the threshold and supporting the proposal.
According to tires, there are three organizations. According to the thermal vote distribution map, it is Electron, Antares and Minotaur IV.
Source: MINTSCAN.
“In the last minute, Crypto.com went against the will of the community and pushed the proposal to re -release CRO tokens, which were probably permanently withdrawn from the circulation of 2021,” the journalist commented.
Sonic co -founder Andre Kroneier sharply responded to the results of the vote, making it clear that they did not meet the principles of decentralization.
Tomorrow Cronos Goes from $ 2.5bn mcap to $ 8.5bn mcap with a sngle vote and all iteded was a sngle voter.
1. Mcaps are a meme.
2. DECENTRALIZATION DOESNT MATTER, UNTIL IT DOES.
3. Immutability doesnt Matter, Until IT DOES. https://t.co/ez5kpm9jfr– Andre Cronje (@andRecronjetech) March 18, 2025
“Tomorrow, Cronos capitalization will increase from $ 2.5 billion to $ 8.5 billion in one voice, and only one voter was required,” he stated.
One users noted that “unfortunately, 99% of Tao work just like that.”
Immediately after the end of the vote, the Cronos team made a bid for burning 50 million CROs – approximately 0.07% of the volume that will be restored.
Another 50m $ Cro Burn on the Horizon 🔥
A 50M $ Cro Burn Proposal Has Been Submitted On #cronos Pos Chain. If passed, Another 50m Cro Will Go Up in Flames.
🗓️ Validtors Will Vote Over The Next 2 weeks.
👉 Proposal Details: https://t.co/rwkmb7qysy
👉 Track Voting Status:… pic.twitter.com/83ne7hnvtn
– Cronos (@cronos_chain) March 17, 2025
“It’s a spit in the face to all CRO owners,” she quoted the tires of one of the independent validators.
In the last day, the token fell by ~ 8% and is traded near $ 0.08 (Coingcko). This is almost 92% below the historic maximum at ~ $ 0.97, recorded in November 2021.
We will remind, in January the media reported a possible investigation of CFTC on futures contracts at Crypto.com.
The gun
Please wait …