News Heat Trend
Project Overview
Cronos Labs is a Web3 startup accelerator that focuses on Decentralized Finance and blockchain games, and on the development of the Cronos blockchain ecosystem.
Event-related news
No related events yet.
Related news
All product revenue will be used for buyback and burn, Cronos Labs initiates CRO governance proposal
Cronos Labs has initiated a governance proposal on GitHub to use all product revenue generated by Ult and Cronos Launch on a monthly basis for open market buybacks and burning of CRO, with the relevant on-chain transaction hashes to be made public. Operational, infrastructure, and growth expenditures are planned to be covered by existing funds.Additionally, Cronos Labs plans to use strategic reserves to supplement future Cronos POS staking rewards, in order to maintain existing reward parameters as CRO inflationary emissions gradually decay. The staking method, lock-up period, and reward structure will remain unchanged. The proposal is currently in the discussion phase and will subsequently be submitted for on-chain governance voting; the voting period is 14 days, the quorum is 33.4% of staked CRO, and it will pass with more than 50% of non-abstaining votes in favor.
Cronos will reassess the CRO token economic model in Q4.
Cronos Labs CEO Ryan Wyatt stated that Cronos needs to revisit the CRO tokenomics model, with related discussions to take place over the coming months, focusing on using Cronos revenue for buybacks and burns, a community burn mechanism, and other matters. This plan has been added to the Q4 roadmap.