The team behind the Cronos blockchain, affiliated with the Crypto.com exchange, has proposed the reissuance of 70 billion CRO tokens that were burned in 2021.
Today, an ambitious proposal was published for voting on the Cronos POS governance forum.
The community is invited to vote on a bold plan to restore Cronos’ Golden Age, with a massive investment allocated to support Cronos Roadmap (incl. its ETF) and America’s ambition to become… pic.twitter.com/7i06DnTx7T— Cronos (@cronos_chain) March 3, 2025
This move would restore the total supply of the asset to its original 100 billion CRO.
According to the proposal, the reissued assets, valued at approximately $5.9 billion at the time of writing, would form a strategic reserve for Cronos. The tokens would be placed in an escrow wallet with a five-year vesting period.
The funds would be unlocked in stages, with monthly tranches of approximately 1.17 billion CRO.
The team stated that the tokens are necessary for implementing key elements of the roadmap presented in February for Crypto.com and the Cronos ecosystem. The plans also include launching a proprietary stablecoin and an exchange-traded fund based on CRO in the United States.
Users have reacted negatively to the initiative to increase the issuance limit from 30 billion to 100 billion tokens. Most commentators expressed concerns about further dilution of their initial investments in CRO.
Currently, the asset is trading around $0.084, although at its peak in November 2021, the price reached $0.96 (CoinGecko). Over the past 24 hours, the quotes have increased by nearly 14%.
The vote on the proposal will continue until March 17. Nearly 5.2% of CRO holders have already expressed their opinions, with approximately 87% opposing the proposal.
Back in January, media reported on a potential investigation by the CFTC into futures contracts on Crypto.com.