PROPOSAL: The Fourth CRO Community Burn on Cronos POS Chain

[lezzokafka]

Introduction

Following the last three successful burns of 50 Million $CRO, we are proposing to initiate the fourth burn of 50 Million $CRO on the Cronos POS Chain. Once this proposal is passed, an additional 50 Million of $CRO will be burned.

Background

As introduced in the previous proposal, the "Burning Mechanism of $CRO" has been implemented and has been continuously allocating a portion of the $CRO generated through emissions to the community pool at the Cronos POS Chain protocol level. The accumulated amount is then periodically burned to complete the cycle. At the time of writing, the community pool holds approximately 70 Million of $CRO and this proposal suggests a burning of 50 Million from the amount.

Technical Details

To execute the "burn”, a "community pool spend" governance proposal with a target address needs to be initiated. In particular, funds from the community pool are proposed to be moved to the "dead" address (i.e.cro1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqtcgxmv), which no one has control over. The current pending and burned amount, as well as historical burn events, are on the burn info page.

Governance Votes

After discussion and suggestion to this proposal, an on-chain network upgrade governance proposal will be raised. The following items summarize the voting options and what they mean for this proposal.

• YES: You approve of the proposal on the changes to proposed changes to move 50 Million (50,000,000) of $CRO from the community pool to the “dead” address and remove this amount from the circulating supply of CRO.
• NO: You disapprove of the proposal in its current form. Feel free to give feedback and suggestions on how to improve the proposal.
• NO (VETO): You veto the entire motivation for the proposal and are strongly opposed to its implementation.
• ABSTAIN: You are impartial to the outcome of the proposal. If the quorum is not met or less than 1/3 of the participating voting power has voted No, the proposal fails and is considered to be vetoed. In this case, the proposal deposit is burned rather than being returned to respective depositors.

Let us know your thoughts

The importance of active community participation in shaping the future of the Cronos POS chain cannot be overstated. Engage with your delegated validators and participate in proposal discussions on Discord and GitHub. Your input is vital in fostering a vibrant that benefits all $CRO holders and the wider ecosystem.

[M4x1m9]

ok

[mwhite34]

You know the community was strongly against your 70 BILLION TOKEN un-burn. You forced that through with your majority vote anyway. Now a proposal to burn a tiny 50 million? As someone staking a sizable amount, this feels like rubbing salt into the wound. You are on the fast track to run CRO into the ground. Also, who cares if you "burn" 50,000,000? You've already demonstrated that Crypto.com's definition of "burning" is to make it go away until you feel like a raise for your executives by diluting your investors.