Cronos' proposal to restore the 70 billion CROs that have been destroyed was voted through, and the voting process has raised questions from the community

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ChainCatcher
2 days ago
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According to ChainCatcher's message, the voting data on Mintscan shows that the proposal to restore the 700 billion burned CRO tokens on Cronos was passed with a 62.18% approval rate. The proposal suggests restoring the 700 billion CRO tokens burned in 2021 to establish a Cronos strategic reserve, and the network parameters and token allocation will be updated in the Cronos POS V5 upgrade.

Furthermore, according to Un Chained's report, the above proposal had slightly more votes in favor than against before March 16, but had not yet reached the required quorum of 33.4% to take effect. Just before the voting ended, 3.35 billion CRO tokens were added to the approval category, reaching the quorum, and the voter turnout was far higher than the previous highest turnout.

Sources say the questionable votes came from large validators (including Starship, Falcon Heavy, Electron, Antares, and Minotaur IV) operated by Crypto.com, which controls 70-80% of the total voting power. A token holder commented on the final result on Telegram, saying "They (Crypto.com) almost voted at the last minute. Now they have set a precedent that other projects can follow."

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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