A controversial proposal in the Cronos ecosystem came to an end on Monday night, with the community voting in favor of the supply of tokens that grew from 30 billion cro to 100 billion cro for an acquisition period of 10 years.
However, that happened after weeks of the community supported against change, while some Cro whales, or influential users who have large amounts of Token, took a step forward in the last hours of the closing of the vote to push it in favor.
Cronos, linked to Crypto Exchange Crypto.com, at the beginning of the month proposed a reissue of 70 billion Cro tokens that burned in 2021, with the aim of restoring its original 100 billion tokens supply for a “strategic reserve.”
The supposed plan of $ 5 billion (at current prices of $ 0.08 CRO) sought to boost the American cryptographic domain, the growth of the fund ecosystem and launch an ETF CRO. The community’s reaction was strong when the vote was for the first time live, with 86% opposing it in the first days.
But cryptographic governance is known for being governed by the community only on behalf; With great tokens headlines capable of mastering any proposal and change to their will, although the vote would be, in theory, transparently executed by the “community.”
The proposal, live from March 2 to 16 and during its voting period, was not about 33.4% of necessary quorum. Then, at 14:00 UTC on Monday, a dump of cro votes of 3.35 billion flew the script, hit the quorum and sealed the agreement. Final count: 61.18% Yes, 17.61% no, 20.11% refrain and 0.11% veto.
Two validators of the influencers network, Starship and Falcon Heavy, backed the plan as of March 10, eclipsed into 77.97% against it and 8.47% refraining at that time. On Monday, Electron, Antares and Minotaur IV accumulated, using a cumulative cro of 3.2 billion cro held by vote to vote for the proposal.
Cronos Network had an update aligned in the hours after the vote that led to an end and ended on March 18 at 03:00 UTC, establishing a course for an increase of more than 200% in the offer in the coming years.
The merchants have responded in kind, with Cro dropped 8.5% in the last 24 hours in the middle of a flat market.
