GuShiio.com Original title: “Cronos, a public chain owned by Crypto.com, proposed to restore 70 billion destroyed $CRO tokens, which aroused strong dissatisfaction in the community, with an opposition rate exceeding 95%.”
Original author: Arthur Wang, Dynamic Trend BlockTempo
Cronos, a public chain owned by the centralized exchange Crypto.com, recently proposed a proposal to restore the 70 billion CRO tokens destroyed in 2021, aiming to provide financial support to the ecosystem, but was strongly opposed by the community. Current voting results show that 95.7% of participants have voted against the plan, and the opposition continues to rise. Voting will end on March 17.
Proposal content: restore destroyed CRs to create strategic reserves
Cronos proposed to restore the 70 billion CRO tokens that had been destroyed, with the goal of establishing a “strategic reserve” to promote the return of Cronos’s “golden age” and support its development in areas such as DeFi, NFT, games and the metaverse.
According to the proposal, restoring destroyed CRO tokens will restore the total supply to the original 100 billion CROs. In addition, these tokens will be locked for 10 years, including a 5-year basic locking period and a 5-year additional locking period. Cronos official stated:
The move will provide financial guarantees for its future roadmap, including planned projects such as ETFs, and help push the United States to become the center of global cryptocurrencies.
Community wind direction: Strong opposition and support coexist
Proponents believe that restoring these tokens and establishing strategic reserves will provide financial guarantees for Cronos’s long-term development, especially in areas such as DeFi and NFT. The move is expected to inject new vitality into the Cronos ecosystem and support its planned future ETF projects.
However, opponents have raised criticism on multiple levels. First, many people worry that restoring 70 billion CRO tokens will cause excessive dilution of market supply, which in turn will have a negative impact on CRO prices. Second, some community members questioned the lack of transparency in the proposal and did not fully explain how the new tokens would be allocated and who would benefit from it.
Others believe that the proposal is inconsistent with the community’s expectations for token destruction and supply control, questioning whether it is in the best interest of the community.
Community reaction: heated discussions and high levels of distrust
After the proposal was released, discussions in the community were extremely intense. Many members asked Cronos to provide more details, particularly on how to allocate these new tokens. Some users even compared this proposal to the “rug Pull” behavior of cryptocurrencies.
