Cronos is planning a new edition of 70 billion cro-token-block-builders.de

The cronos blockchain, which is connected to the crypto exchange crypto.com, is considering a controversial measure: the reintroduction of 70 billion cro tokens, which were originally burned in 2021. If the proposal is implemented, the overall supply would increase again to the original 100 billion Cro. The additional tokens worth around $ 6.3 billion are to be held in a strategic reserve with a five-year blocking period (Vesting School).

Reasons for the proposal

One main reason for this step is the planned submission of an application for an exchange -traded fund (ETF) for Cro. Crypto.com would like to address institutional investors more and make the Cro-token more attractive as a value system. This could significantly increase the liquidity and market acceptance of CRO.

Review: The token burn 2021

The original token burn in 2021 was one of the largest in the history of the cryptom market. At that time, the total supply was reduced from 100 billion to 30 billion CRO to promote decentralization and to support the upcoming start of the cronos inner set. Now, however, this measure could be partially reversed, which many community members see critically.

Controversy within the community

The reactions to the proposal are mixed. While some investors see the step as a strategic advantage for Crypto.com, others consider it problematic. On platforms such as X (formerly Twitter), some users said that the new edition of the tokens could endanger the credibility of the blockchain and lead to a loss of trust. Some even refer to the step as “backwards” or “dubios”.

Development of cronos and Cro

Crypto.com originally started with the Monaco Coin (MCO), which was later renamed Cro. After rebranding to Cronos in February 2021, the Mainset was launched in November of the same year. The blockchain is based on the Cosmos SDK and is currently being expanded to include a ZKEVM layer 2 solution for Ethereum.

At the time of the proposal, the circulating range of CRO 27.3 billion tokens, with a maximum upper limit of 30 billion. The market capitalization is currently $ 2.4 billion. Despite the controversial discussion about the new edition of the tokens, the cro course has increased by over 20 % in the past 24 hours.