coindesk.com
Cronos, the blockchain ecosystem related to Crypto.com, wants to bring back 70 billion $CRO tokens it burned in 2021 in a strange proposal that has largely left its community members flummoxed .
The now-live governance proposal aims to restore its original 100 billion token supply under a strategy dubbed "The New Golden Age for Cronos."
The original burn slashed $CRO’s supply from 100 billion to 30 billion, a move hailed at the time as a masterstroke to boost value — one that helped bump $CRO prices from 6 cents to 25 cents in a few weeks.
Now, Cronos wants to reverse course and reissue the tokens into a “Strategic Reserve” escrow wallet to be vested monthly over 10 years.
Reissuing 70 billion $CRO coins with a “5 year lockup” then saying there is a linear vesting period.
— Blacksea (@333blacksea) March 3, 2025
Please explain how this is not just diluting the supply.
Who exactly is getting this 70 billion new coins?
Explain why this is beneficial to the early #$CRO coin investors. pic.twitter.com/c7fHbfMDKM
The motive is a $5 billion push (at current $CRO prices of 8 cents) to cement U.S. crypto dominance, fund ecosystem growth, and launch a $CRO ETF. The team expects the move to “onboard billions” of potential users and integrate $CRO with institutional liquidity pools, but not everyone’s buying the hype.
Community reactions to the proposal have been swift and largely critical. The reissuance threatens to dilute value, a sore point for a community celebrating the 2021 burn as a moonshot moment.
“This is the opposite of what #CROfam wants,” user @WalkingTall101 said. “The 2021 burn was a landmark moment for #$CRO, a signal of commitment to scarcity and growth. Undoing it now feels like a step backward, diluting our trust and the chain’s potential.”
Once again, the direction being pushed for $CRO is moving away from what #Crofam has consistently asked for.
— LEGiON (@WalkingTall101) March 3, 2025
This latest proposal to reverse the 2021 burn and re-issue 70 billion $CRO into a 'Strategic Reserve' is the opposite of what this community wants. We’ve been vocal about… pic.twitter.com/Z06WRPInFB
“A burn is a burn, burnt tokens shouldn’t be brought back to life. I’m almost never against anything happening on Cronos, but today, I’m against it, big time!,” the well-followed Crypto.com ambassador @Wyll_BBK posted.
Still, the proposal’s fate hinges on a governance vote, with 86% of votes against, 8.6% abstaining to participate and just 4.68% voting in favor as of Monday (though this can quickly change if an influential player votes in favor closer to the end date).
The vote runs until Mar.17. $CRO prices are up 8% in the past 24 hours, in line with a broader market jump.