[Taklimakan Blog] Crypto.com Burns 70 Billion CRO Coins

Anatole Strum
Mar 15, 2021

CRO Token Issuer Crypto.com Announces 70 Billion Tokens Burned Ahead of Project Mainnet Launch

Cryptocurrency payment resource Crypto.com burned 70 billion CRO coins (~ $ 16.3 billion). The company announced this in its official blog.

The decision to burn such a large amount of tokens stems from the desire to create a “completely decentralized open-source network.”

The company destroyed the first 59.6 billion CRO (~ $13.9 billion) on February 22. Another 10.4 billion (~ $2.4 billion) coins will be burned monthly. Burning tokens is expected to increase CRO turnover from 24% to over 80%.

Of the remaining 5.9 billion (~ $1.3 billion), 5 billion CROs will be allocated for rewards to validators. The remaining 0.9 billion CRO (~ $210 million) will remain for the development of the ecosystem, the announcement says.

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Anatole Strum

Pop culture fanatic. Hardcore coffee junkie. Food ninja. Bacon expert. Hipster-friendly introvert. Crypto expert on Taklimakan.Network.