Cronos Vote to Burn 228 Million CRO Closes Saturday
- —Proposal 36 would burn 228 million CRO, or 0.23% of the 98.95 billion total supply
- —Proposal 37 would direct all Ult and Cronos Launch revenue into CRO buybacks and burns
- —Yes votes total 5.18 billion and 5.16 billion CRO against a 33.4% quorum
- —CRO trades at €0.0590, up 9.6% on the week but more than 90% below its all-time high
Why it matters: The burn trims only 0.46% of circulating supply, but the revenue-funded buyback plan would set a long-term deflationary path for the token.
Source: CryptoTicker