Cronos Labs Proposes Governance Proposal for CRO Buyback and Burn

Cronos Labs has initiated a governance proposal on GitHub, planning to use all product revenues generated from Ult and Cronos Launch for monthly buybacks and burns of CRO on the open market, with relevant on-chain transaction hashes to be made public. Operating, infrastructure, and growth expenses will be covered by existing funds. Additionally, Cronos Labs intends to use strategic reserves to supplement future Cronos POS staking rewards, in order to maintain existing reward parameters as CRO inflationary emissions gradually decline, with no changes to the staking method, lock-up period, or reward structure. This proposal is currently in the discussion phase and will be submitted for on-chain governance voting later; the voting period will last for 14 days, requiring a quorum of 33.4% of staked CRO, and more than 50% of non-abstaining votes in favor for it to pass.

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