The Cronos Blockchain of Crypto.com offers to reintroduce 70 billion CRO tokens which were previously burned in 2021, a decision that would restore the total offer to 100 billion CRO.
This decision is part of a wider strategy that involves the creation of a “strategic reserve portfolio” for these tokens, in order to release them gradually over five years.
The decision to relaunch burned tokens is linked to the ambition of Crypto.com to establish a negotiated fund on the stock market (ETF) Cro. This decision should capitalize on the growing institutional interest in cryptographic space.
The original burn in 2021 was an important event in the industry, reducing the CRO supply by 100 billion to 30 billion tokens in order to promote decentralization and to support the development of cronos.
However, this proposal was confronted with strong scale reactions within the community. Many criticisms argue that such a decision could undermine the progress made with decentralization, calling it a rear step for the project.
The CRO token has evolved significantly since its creation as Monaco Parts (MCO), which was initially linked to the Visa MCO card. After the name change in 2021, he became the native token of the Cronos chain, a blockchain built using the Cosmos SDK.
In addition to its main launch, Cronos developers also work on a Zkevm Layer 2 solution, which will allow integration with Ethereum, further expanding its scope in the cryptographic ecosystem.
