A Contacting the proposal In the Cronos ecosystem occurred late Monday, with a community vote in favor of the token supply growing from 30 billion CRO to 100 billion CRO during the 10-year vesting period.
However, it happened after community weeks leaning against the switch while some CRO whales – or influential users holding a huge amount of a token – climb the last few hours of vote closure to favor it.
Cronos, tied to Crypto Exchange Crypto.com, earlier in the month that 70 billion CRO tokens were again burned in 2021, aimed at restoring the original 100 billion supply token for a “strategic reserve.”
The supposed $ 5 billion plan (at the current $ 0.08 CRO prices) sought to boost US crypto dominance, funding ecosystem growth and launching a CRO ETF. The community’s backlash was strong when the vote survived, with 86% opposed to the early days.
But crypto management is well-known for being a community that is only managed in the name; In large token holders that can dominate any proposals and changes in their mood – even if the vote will be, in theory, conducted clearly by the “community.”
The proposal, lived from March 2-16 and by its voting period, is nowhere near the 33.4% quorum required to be passed. Then, at 14:00 UTC on Monday, a 3.35 billion CRO votes dropped the script, hit the quorum and a deal with the deal. Final Number: 61.18% Yes, 17.61% No, 20.11% Avoid and 0.11% Veto.
Two influencer network validator, starship and Falcon Heavy, who returned the plan on March 10, dwarfed by 77.97% against it and 8.47% avoided time. On Monday, the electron, Antares, and Minotaur IV were stacked – using a combined 3.2 billion CRO in the voting power to vote for the proposal.
The Cronos Network had a UPgrade lined with times After the vote ends and ends on March 18 at OTC 03:00, the course sets for more than 200% increase in supply in the coming years.
Entrepreneurs responded kindly, with CRO down 8.5% over the past 24 hours in the middle of a flat market.
