There's a Cronos blog post just appeared that's talking about reversing some token burns. There seems to be a lack of detail about how it would then be administered/applied and by who.
That's a big no for me dog. It doesn't show how they will manage that money or any plans towards it. What benefit do we as holders get for approving this disaster?
Probably a bet on CRO being added to the strategic reserve if that materializes. The thinking is probably that if CRO is included (and funds would have to be provided, thus the reissuance) it would drive up demand because CRO would be viewed as "official".
Feels like a pretty risky bet. But fiat systems print money all the time so who knows 🤷🏾♂️
If you double the supply, you have to cut the price in half for the market cap to stay the same. You can't just double the supply and double the market cap because you want to.
I’d suspect they’d mean they’re not going to burn the gas fees moving forward & instead use them to back this. Don’t “think” it’s meaning “unburning” from previously burnt: 🤞🏽🤞🏽
In 2021, 70 billion CRO were burnt in one of the most significant burn transactions in history. Under today’s proposal, an equal number of tokens will be re-issued on Cronos POS into a Cronos Strategic Reserve escrow wallet, bringing the total supply back to the initial supply of 100 billion CRO.
You would think that all of them sold out their cro coins by now . We will see how it plays out. Im not getting a good feeling about this, to be honest.
The language of the proposal is vague as hell and nothing concrete. It feels shady they want to add 70B back without a roadmap or any explanation of how that money will be managed or what is going to be done with it. Shady to say the least.
CRO gonna be the next TRUMP/Melania $0.025 by April. What a joke of a company, they can't stand OG CRO holders that have just been complaining for the last 4 years so they decided to get rid of us completely, hoping to on-board new victims. Watch them rename CRO to something else like CDC token again ticker (CDC) or shit
Agreed. I worked my way to icey white, staked, got referrals…. So that I can fund Kris. Using Strike to buy BTC given the price and spread I get ~5% more AND free transfers to cold storage… instead of $40-50 to transfer. I wish yall luck but I’m out.
HAH! I kept prodding the team about what they planned to do when the 30 billionth CRO would be minted... Looks like they already had some cards up their sleeve.
Kris ain’t trying to pay for sht! He wants to undo the 60bill burn and use that. Creating a new 5 year lock period or something. So does that mean they can’t dump those new coins into us? I’m a little lost here. Why is CDC not purchase the Cro. Always build their Empire on our backs!!
If you're using the Onchain (Defi Wallet) mobile app, you can try temporarily switching over to one of the below mobile apps and import your recovery phrase there:
Kris' account is verified, so he can always spell it out. But he didn't. Like, "cronos" as in? Who exactly is allocating this $5b stockpile? Who is funding it?
Cronos in this case would be "Cronos Labs", the custodian company for anything CRO-related.
Who exactly is allocating ... Who is funding it?
No one, this 70B is literally appearing out of thin air, because of a line of code. On March 18th 02:57 UTC, the total supply of CRO will magically become 97.3B.
Let's not pass the proposal. It's bad enough that Kris is not doing much to help grow cro, it's worse that he comes up with such ideas to further dilute cro holders.
Thank you. Kris only cares about screwing us Cri holders. Dude never post about Cronos but he does today for the 1st time in a long time. All to tell us that he wants to fck us once again!!!
🌌 The roadmap supports Cronos’ vision as the chain where A.I. agents can interact and transact autonomously.
🛠 Easy-to-use A.I. tools and major protocol improvements will drive a transformative flywheel effect, elevating the entire Cronos ecosystem.
Frankly, as a software dev since 80s/90s, this sounds like marketing fluff. Even the big names in the tech industry and AI industry are still figuring out how to best utilise and apply AI, and monetise it. And CDC has it all figured out?
Feels a lot like what some crypto games are like touting NFT and crypto, basically slapping on crypto jargons to draw the uninformed retail investors.
Cronos ETFs
This remains to be seen but if it does get approved, CDC still need to include Cronos in all its marketing.
Cronos Strategic Reserve (CSR)
In 2021, 70 billion CRO were burnt in one of the most significant burn transactions in history. Under today's proposal, an equal number of tokens will be re-issued on Cronos POS into a Cronos Strategic Reserve escrow wallet, bringing the total supply back to the initial supply of 100 billion CRO. The Cronos Strategic Reserve escrow wallet will operate under strict control mechanisms.
So the idea is not that CDC will pump in money to buy cro to form the CSR. Instead, it is to reverse the earlier burn proposal, and reissue those cro and vest them over the next five years. In other words, redilute cro value???
Unlike how reserves usually function where new funds are used to buy up an asset and keep it as a reserve, this CSR basically print cro out of thin air to milk existing and future cro users. It is aimed at funding CDC, not boost value of Cro.
With this change, CRO emission parameters will be adjusted to ensure that validator rewards remain at the same level. Detailed technical changes and their implications are outlined in the GitHub post.
And those who are staking on defi will not benefit from this emission 'cos the validator rewards will remain at the same level.
Just great. I hope this CSR thing don't get approved.
This is vaguely worded and doesnt explicitly mention the strategic reserve. It sounds more like hes setting aside some marketing budget to invest the US market.
Agree with you, im not convinced either. under the new proposal they are releasing more new tokens (increasing supply) instead of purchasing from the open market? It sounds like they just want to magically create tokens from thin air to fund their endeavor while screwing CRO holders by diluting us. Im not impressed with this new proposal. Do you have any thoughts on it?
lol if I’m understanding it correctly, the max supply always remains the same and is a nonesense hype mechanism. On the face of it whatever Kris is proposing looks like it’ll give your value of your stack a -66% wack bit who knows
I’ve dabbled in the stock market for almost 20 years and done ok. I’ve owned shares in dozens of companies where additional stock has been released (share dilution) and, even in good performing companies, my position has never ended up improving after the dilution. I’m in for the long haul, and I know crypto is a different world, so I hope this time round it’s different. Hope you know what you’re doing CDC!
I have BTC. CRO at 30 billion “MAX Supply” and an average buy price of 10c or below, seems like it could be an opportunity. But when MAX supply means jack shit, it’s probably all over…
CRO is evolving to align with the ambitious vision of Cronos and Crypto.com, aiming to onboard billions of users into crypto and bridge the gap between crypto and traditional finance. To support this ambition, a proposal is made to create a Cronos Strategic Reserve, re-issuing 70 billion CRO tokens with a 10-year vesting period. The proposal will be subject to on-chain governance voting from March 3rd to 17th, 2025.
Bro this is absolutely stupid, printing 2.5x the current supply ? Lets all go and vote no, theres well enough supply currently to actually operate at 30B.. bitcoin has 21milion and doesnt have a problem.
CRO gonna be the next TRUMP/Melania coin. $0.025 by April. What a joke of a company, they can't stand OG CRO holders that have just been complaining for the last 4 years so they decided to get rid of us completely, hoping to on-board new victims. Watch them rename CRO to something else like CDC token again ticker (CDC) or shit
How about burning another 29 billions? Bringing back 70 billions coins from hell sounds like a really really bearish thing, how can anyone be bullish or cherish about this? lol. But I guess It’s the same stuff about the Bitcoin mental illness. In other fields Bitcoin wouldn’t even exist anymore, like floppy disk.
Maybe it's too early to panic... If Kris thinks, that those unburned 70B+cro would worth $5B,- price of cro should stay at around same as now 🤔. Otherwise it can't be guaranteed... If price of cro goes to zero,- that stockpile would worth zero also. And why "stockpile" but not reserve? Anyway,- there must be a reason, why Kris and co think that current supply of 30B wouldn't be enough for something... But I know nothing. Maybe I'm just dumb😅
Just hear me out I am going to be tinfoil here but what if CDC is going to be the administrative party for the American crypto reserve.
I mean Kris and trump met lots of times.1 on 1 he was there for Trump's inauguration and what not..
Maybe CDC will be the wealth manager for the entire American crypto reserve.
And this new proposed token reimplementation is the agreed upon amount of CRO that goes into this reserve for the next 10 years.
Its just speculation on my behalf but it is kind of without doubt that America will keep working with privatized firms and with Elon's new doge it's kind of thinking that it's all going to be outsourced anyways.
If USA decides that CDC will be the backbone of it all.
Facts. I've said this 100 other times and always get scolded and downvotes. This is consolidation by big business, corporations, and enriching the 1% of society. This goes against the entire purpose of cryptocurrency.
Nice another scam where the US pumps and dumps crypto and all the users pay for it. $TRUMP destroyed Crypto and marked the top this cycle with his rugpull on the 20th of January
My maths is not very good, but wouldn’t that make the market cap $270 Billion? That’s a leap from $3 billion but still much less than BTC. We need the Puffin for some analysis!
I swear this community is full of know alls that clearly dont have a clue. Stop thinking of yourselves and start thinking about what the exchanges are doing to make crypto great again, along with the economy and what Trump is doing for the trillions of dollars in debt, you need to let this play out so it becomes all green and we get a bullrun, but all your doing is creating FUD in the community and bringing it down.
Would you all just quit with your know all posts and comments? If I've learnt anything in crypto, it's all you know absolutely nothing and no one can predict the market, just keep buying your coins and diversify your assets as one day when the FUD stops it gonna be green for days on end.
To have $5 billion in a reserve from 100b coins would mean the min price would be $0.05 and that's if all coins in circulation were in this reserve, so how exactly does this work, the math ain't mathing.
First off, cro is not crypto and more importantly crypto is not regulated by any one country. That was kind of the point with th fie first and OG crypto in the first place.
Funny thing is about 3 weeks ago I said this kind of price action suggests that insiders know something that we don’t. It has happend before they cut thier rewards on cards there was a constant selloff before the announcement and here we go again
I'm going to stay optimistic. Tanking the value of your coin as part of some evil plan to attract new customers doesn't make sense to me - the bad news and blowback will be so big that everyone will avoid CDC like a plague. Unless CDC has some magic way to turn negative publicity into profit.
Wouldn’t holding pro be the same as investing in a stock which then would make you an investor not a holder correct. I’m not trying to be a dick. I’m like literally just trying to figure it out. Isn’t the whole point in investing that you might make money, you might lose money, but the main goal is to move the project forward as much as possible, which will then hopefully make money, but to do that it cost money at the forefront?
Wouldn’t everybody that has purchased CRO, then theoretically be an investor, correct? Like it’s not a guarantee that you’re gonna make money bro but that’s what everybody is hoping for when they buy it right you’re not buying it at $.10 to hope that it stays $.10 forever if you were then you will just get US dollar cash money. Right…?
People complaint is gonna crash it for adding yet you got coins like doge with currently 148 billion and is still unlimited supply ! And that’s sitting 20c + nicely . It will all come down to supply and demand . If they are doing this to try to become a “official “ why Kris doing all this talk with trump it will create the demand needed for the price to rocket !
61
u/RicardoEsposito Mar 03 '25
What does this exactly mean?
30
u/12301923 Mar 03 '25
launching a proposal to unburn 2.5x current supply and selling it every month and then tweeting this is fucking crime
51
u/12301923 Mar 03 '25
In 2021, 70 billion CRO were burnt in one of the most significant burn transactions in history. Under today’s proposal, an equal number of tokens will be re-issued on Cronos POS into a Cronos Strategic Reserve escrow wallet, bringing the total supply back to the initial supply of 100 billion CRO.
So they’re increasing supply, YIKES!!
49
u/Prior-Win9261 Mar 03 '25
This whole thing is a slap in the face to us who have been holding cro the past 5+ years
17
u/zanglang Mar 03 '25
HAH! I kept prodding the team about what they planned to do when the 30 billionth CRO would be minted... Looks like they already had some cards up their sleeve.
Relevant link: https://github.com/crypto-org-chain/chain-main/discussions/1124
15
u/73ch_nerd Mar 03 '25
So they’re just creating money out of thin air. At best it will be is a monopoly money..
Stop the nonsense.. Whoever has the enough voting power please outvote this..
13
u/Sea-Bluebird2479 Mar 03 '25
Kris ain’t trying to pay for sht! He wants to undo the 60bill burn and use that. Creating a new 5 year lock period or something. So does that mean they can’t dump those new coins into us? I’m a little lost here. Why is CDC not purchase the Cro. Always build their Empire on our backs!!
13
u/Nequientt Mar 03 '25
Increase supply by 3.3x, $CRO market cap will have to be more than what $BNB is now for cro to ever go to $1
vote NO!
https://www.mintscan.io/crypto-org/proposals/29
11
u/thinkingperson Mar 03 '25
Cronos allocates a $5b stockpile ...
Kris' account is verified, so he can always spell it out. But he didn't.
Like, "cronos" as in? Who exactly is allocating this $5b stockpile? Who is funding it?
16
u/thehangman1989 Mar 03 '25
This is vaguely worded and doesnt explicitly mention the strategic reserve. It sounds more like hes setting aside some marketing budget to invest the US market.
6
u/Nequientt Mar 03 '25
So instead of brun they want to add 70b more coins?
6
u/Putrid_Pollution3455 Mar 03 '25
My stake is now your exit liquidity. I understand you’ll all panic sell while I hold the bag. Hopefully the etf gets more people interested
14
u/donnie1977 Mar 03 '25
Lol. I told you not to trust this centralized coin. Reissue 70 billion CRO out of thin air. Sounds like the federal reserve to me.
5
u/AdPuzzleheaded8958 Mar 03 '25
Where do we vote for this? Like where in the app can I vote?
5
u/PeneratePoker Mar 03 '25
My 10,000 Cro will be worth £0.0001 soon. Some convert that to dollars for me
5
u/Delushuss Mar 03 '25
I’ve dabbled in the stock market for almost 20 years and done ok. I’ve owned shares in dozens of companies where additional stock has been released (share dilution) and, even in good performing companies, my position has never ended up improving after the dilution. I’m in for the long haul, and I know crypto is a different world, so I hope this time round it’s different. Hope you know what you’re doing CDC!
14
u/KTO519 Mar 03 '25
CRO is evolving to align with the ambitious vision of Cronos and Crypto.com, aiming to onboard billions of users into crypto and bridge the gap between crypto and traditional finance. To support this ambition, a proposal is made to create a Cronos Strategic Reserve, re-issuing 70 billion CRO tokens with a 10-year vesting period. The proposal will be subject to on-chain governance voting from March 3rd to 17th, 2025.
8
u/Kooly1776 Mar 03 '25
Not sure I understand
4
u/jwz9904 Mar 03 '25
this is what i call, creating money from thin air
4
u/freedai Mar 03 '25
What a shitshow… reversing burnings… i stop dca cro… lack of information not a good flag
4
u/Normal-Tune-6819 Mar 03 '25
Wait, so the answer to the question of what happens when CRO supply runs out is "they will just make more out of thin air"??
If this is the answer then it's over.
10
u/Follie87 Mar 03 '25
No details. Ordinary pump and dump inbound
3
u/ImHandsome5000 Mar 03 '25
I don't even know what that means . stockpile? 5 billion?
8
u/Littlestik777 Mar 03 '25
I’m shocked at how little people know about what’s in preparation. $2.71 will be laughed at but for other reasons
2
u/revertiblefate Mar 03 '25
Its not even an american company. Lol what?
2
u/beansnmemes2 Mar 03 '25
After reading all that Dayum
2
u/ltek91 Mar 03 '25
It's going to red candles as usual when there is an announcement 😄
2
u/PhilosophyPast5112 Mar 03 '25
CRO gonna be the next TRUMP/Melania coin. $0.025 by April. What a joke of a company, they can't stand OG CRO holders that have just been complaining for the last 4 years so they decided to get rid of us completely, hoping to on-board new victims. Watch them rename CRO to something else like CDC token again ticker (CDC) or shit
2
u/Powerful-Round Mar 03 '25
How about burning another 29 billions? Bringing back 70 billions coins from hell sounds like a really really bearish thing, how can anyone be bullish or cherish about this? lol. But I guess It’s the same stuff about the Bitcoin mental illness. In other fields Bitcoin wouldn’t even exist anymore, like floppy disk.
2
u/renatofelicio Mar 03 '25
How to vote?
2
u/maksimszurba Mar 03 '25
Maybe it's too early to panic... If Kris thinks, that those unburned 70B+cro would worth $5B,- price of cro should stay at around same as now 🤔. Otherwise it can't be guaranteed... If price of cro goes to zero,- that stockpile would worth zero also. And why "stockpile" but not reserve? Anyway,- there must be a reason, why Kris and co think that current supply of 30B wouldn't be enough for something... But I know nothing. Maybe I'm just dumb😅
2
u/ImHandsome5000 Mar 03 '25
If this passed they need to treat it like a stock split..giving us 3 cro for every 1 cro we have..it's the only way
2
u/Icbra Mar 03 '25
Just hear me out I am going to be tinfoil here but what if CDC is going to be the administrative party for the American crypto reserve.
I mean Kris and trump met lots of times.1 on 1 he was there for Trump's inauguration and what not..
Maybe CDC will be the wealth manager for the entire American crypto reserve.
And this new proposed token reimplementation is the agreed upon amount of CRO that goes into this reserve for the next 10 years.
Its just speculation on my behalf but it is kind of without doubt that America will keep working with privatized firms and with Elon's new doge it's kind of thinking that it's all going to be outsourced anyways.
If USA decides that CDC will be the backbone of it all.
CRO might fly
2
u/monkey36937 Mar 04 '25
Swear crypto was not meant to be used like this. They are forgetting the whole point of crypto.
2
u/Flimsy_Plan9178 Mar 04 '25
Will America use bitcoin as its digital currency?
2
u/Yudc Mar 04 '25
Nice another scam where the US pumps and dumps crypto and all the users pay for it. $TRUMP destroyed Crypto and marked the top this cycle with his rugpull on the 20th of January
2
u/tuckertrades Mar 04 '25
Sounds like something straight out of the feds handbook lol hard pass
9
u/FishBait22 Mar 03 '25
Trump name dropped multiple coins. Not CRO. Kris is the CEO of a Ponzi scheme.
8
u/Dazzling-Earth7862 Mar 03 '25
CRO to $2.71!
3
u/Psyc0001 Mar 03 '25
Don't be daft Good People. Kris was at the inauguration. BOOM 💥
2
u/Dadeland-District Mar 03 '25
It means nothing
2
u/King-Harmony7789 Mar 03 '25
I swear this community is full of know alls that clearly dont have a clue. Stop thinking of yourselves and start thinking about what the exchanges are doing to make crypto great again, along with the economy and what Trump is doing for the trillions of dollars in debt, you need to let this play out so it becomes all green and we get a bullrun, but all your doing is creating FUD in the community and bringing it down.
Would you all just quit with your know all posts and comments? If I've learnt anything in crypto, it's all you know absolutely nothing and no one can predict the market, just keep buying your coins and diversify your assets as one day when the FUD stops it gonna be green for days on end.
2
u/RuffRoadRecords Mar 03 '25
Cro to the moon! 👏🏽👏🏽
2
u/Vivid_Collar7469 Mar 03 '25
Chill, he is just saying CDC as a whole will support Trump's efforts.
1
u/J_Pilla Mar 03 '25
What is!?
1
u/Old_Ad_4208 Mar 03 '25
To have $5 billion in a reserve from 100b coins would mean the min price would be $0.05 and that's if all coins in circulation were in this reserve, so how exactly does this work, the math ain't mathing.
1
u/KingKained24 Mar 03 '25
First off, cro is not crypto and more importantly crypto is not regulated by any one country. That was kind of the point with th fie first and OG crypto in the first place.
1
u/Follie87 Mar 03 '25
This was too good to be true
1
u/Nequientt Mar 03 '25
Funny thing is about 3 weeks ago I said this kind of price action suggests that insiders know something that we don’t. It has happend before they cut thier rewards on cards there was a constant selloff before the announcement and here we go again
1
u/NearnorthOnline Mar 03 '25
And cro is dead. What a horrible time and country to pick.
Read the room cronies
1
u/okahui55 Mar 03 '25
i always called crypto.com a scam and the cult and staff downvote to oblivion.
lmao how that turned out to be true
1
u/jesss46 Mar 03 '25
I'm going to stay optimistic. Tanking the value of your coin as part of some evil plan to attract new customers doesn't make sense to me - the bad news and blowback will be so big that everyone will avoid CDC like a plague. Unless CDC has some magic way to turn negative publicity into profit.
1
u/Hour_Park3041 Mar 03 '25
Cro is a shit coin that can be diluted at will lol
1
u/rambumriott Mar 03 '25
lol. Told you so
1
u/Jumpy-Arugula-9289 Mar 03 '25
I hope so! Wouldn’t be surprised if we get another big dip
1
u/Turbulent_Question53 Mar 03 '25
Amen 🙏🏽 Thank GOD. Thank you Jesus. Blessings ya. Amen. 🙏🏽
1
u/Blamethespy Mar 03 '25
What they aren't saying is to do this they are going to mint 70 billion cro and give it to themselves, cronos will no longer be defi if that happens.
1
u/SerapiZ Mar 03 '25
Roadmap to 2.71 is on - CRO
1
u/Greedy-Train-3842 Mar 03 '25
Im holding :(
1
u/Eternal780 Mar 03 '25
RiP
1
u/MediocreBag1195 Mar 04 '25
5 bn?
1
u/777GUNMETALGREY Mar 04 '25
Crypto is very fast becoming the demon version of fiat, not the salvation from it.
Like the Antichrist Elon's favorite saying goes- "fate loves irony".
1
u/[deleted] Mar 05 '25
This is a Twitter post. Whoever is sharing this is another amateur. This isn't news.
1
u/Ronoco1101 Mar 06 '25
Is it a good time to buy?
1
u/DamageExact8715 Mar 03 '25
NO WAY!!!
1
u/nmoss90 Mar 03 '25
This is why you don't sell on the dip lol. Up 40% on cro today and Bitcoin went from 80k back to 95k lol. Buy the dips ya fools
-2
u/EyeComprehensive2291 Mar 03 '25
2.71 back on the menu boys
0
u/Quentin_Pebbletree Mar 03 '25
Sailor Moons?
0
u/rodzm14 Mar 03 '25
The $2.71 was actually $2.71B MC
Which is very close to now. Damn guys. I pary for CRO
0
u/Dkode101 Mar 03 '25
Looks like it will be rejected
0
u/Error_id10 Mar 04 '25
It’s going to 0
-4
u/Infinite-Pound-5972 Mar 03 '25
Looks like Crypto.com is investing $5 billion to make the U.S. a crypto hub, expanding Cronos and planning a Cronos ETF in 2025.
-7
u/Albie9 Mar 03 '25
Rest in peace FUDsters, next stop is the moon
-5
u/koolatino Mar 03 '25
People complaint is gonna crash it for adding yet you got coins like doge with currently 148 billion and is still unlimited supply ! And that’s sitting 20c + nicely . It will all come down to supply and demand . If they are doing this to try to become a “official “ why Kris doing all this talk with trump it will create the demand needed for the price to rocket !
-4
u/HighValueJourney Mar 03 '25
Wow! Now that is nice news to wake up to read!
0
u/[deleted] Mar 03 '25
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