Cronos proposes directing Ult and Cronos Launch revenue to CRO buyback and burn
- —All Ult and Cronos Launch revenue will go to monthly CRO buyback and burn
- —Each buyback transaction will be published with a hash on the blockchain
- —The strategic reserve will support Cronos POS staking rewards if emissions decline
- —Voting on the proposal will last until October 3
Why it matters: Burning CRO will reduce the token's supply, which could support its price if the initiative is approved.
Source: PANews