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Okay, so Cronos is pondering the idea of eliminating a tidy $4 million by incinerating 50 million of their $CRO digital tokens. They have previously eliminated some tokens, and they are now requesting that the community vote on whether to do it again. Voting will be open for a couple of weeks in March.
Essentially, they have 70 million $CRO sitting in a community fund, and they are considering burning 50 million of those.
**Here is the agreement:**
* **Why eliminate?** $CRO has a total supply of 30 billion, and they are hoping that this elimination will give the price a small boost.
* **How it works:** They will send the tokens to a “dead” address – basically, a location where they can never be recovered.
* **Experienced:** They tried something similar last year to combat inflation and support the price. After halving, the annual inflation rate fell from about 3% to about 2.4%.
So, the community gets to vote, and if it passes, they will proceed to eliminate those tokens. Cronos appears to be quite optimistic, as the previous eliminations helped.
*Written by Umair Younas, a crypto content creator at Blockchainreporter.*
Hes a real digital currency lover, exploring blockchain technology, non-fungible tokens, decentralized finance, and everything related to financial technology. You can rely on his assessments of agents and trading platforms – he actually understands his material. Furthermore, he collaborates with the learning people to simplify understanding this content. His main objective? To bring everyone current on virtual currencies. His pieces are thoroughly investigated and filled with understandings, therefore if you desire to remain in front in the digital currency world, watch out for his work! Bitcoin Profitability Stress Reaches Levels Last Seen in September 2024
