Odaily Planet Daily News Crypto.com recently passed a controversial proposal to reissue 70 billion CRO tokens to revoke the same number of tokens burned in 2021. Although the votes in favor and against were almost equal during the voting period (March 2-16) and the required 33.4% of voters were not reached, 335 million CRO tokens were added to the approval category at the last minute, making the vote pass, with a final result of 61.18% in favor, 17.61% against, and 20.11% abstentions.
The passage of the proposal has caused dissatisfaction among a large number of coin holders, many of whom believe that this has damaged the trust between them and Crypto.com.
In addition, Crypto.com also plans to re-mint 70 billion CRO tokens through the Cronos blockchain upgrade. These new tokens will be allocated according to a five-year plan for multiple functions, including the launch of a potential CRO ETF.
The day after the vote, Crypto.com proposed another proposal to burn 50 million CRO (about 0.07% of the newly minted tokens), which once again aroused the dissatisfaction of coin holders, who considered it an insult to coin holders.