March 3, 2025 12:23 UTC
Cronos, a blockchain ecosystem linked to Crypto.com, is seeking to return 70 billion CRO tokens that were burned in 2021 in a bizarre proposal that has left its community largely confused.
The goal of the current governance proposal is to restore the original token supply to 100 billion in a strategy dubbed the “New Golden Age of Cronos.”
The initial release reduced the CRO supply from 100 billion to 30 billion, a move that was seen at the time as a brilliant move to increase value – it helped push CRO prices from 6 cents to 25 cents in a matter of weeks.
Now Cronos wants to change course and transfer the tokens to the escrow wallet “Strategic Reserve” with monthly transfers for 10 years.
Reissue of 70 billion $CRO coins with a “5-year lockup” and subsequent announcement of a linear vesting period.
Please explain why this is not just a watering down of the sentence.
Who exactly will get these 70 billion new coins?
Explain why this is beneficial for early investors in #CRO coin. pic.twitter.com/c7fHbfMDKM
— Blacksea (@333blacksea) March 3, 2025
The motivation is a $5 billion investment (at current CRO prices of 8 cents) to cement the cryptocurrency’s dominance in the U.S., fund the growth of the ecosystem, and launch a CRO ETF. The team hopes that the move will “attract billions” of potential users and integrate CRO with institutional liquidity pools, but not everyone shares this optimism.
The community response to the proposal was immediate and largely critical. Re-release could dilute the value, a painful aspect for a community that celebrates the 2021 burn as a breakthrough moment.
“This is in direct opposition to the #CROfam’s wishes,” said user @WalkingTall101. “The 2021 burn was a signature moment for #CRO, a signal of commitment to scarcity and growth. Reversing it now feels like a step backwards, undermining our trust and the potential of the network.”
Once again, the direction being pushed by CRO is moving away from what #Crofam has been constantly asking for.
This latest proposal to cancel the 2021 burn and reissue 70 billion CRO into the “Strategic Reserve” is the opposite of what this community wants. We have spoken out about… pic.twitter.com/Z06WRPInFB
— LEGION (@WalkingTall101) March 3, 2025
“A burn is a burn; burned tokens should not be brought back to life. I am almost never against what happens on Cronos, but today I am against it, seriously!” commented popular Crypto.com ambassador @Wyll_BBK.
However, the fate of the proposal depends on a governance vote: as of Monday, 86% voted against, 8.6% abstained.
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