Cronos Labs Proposes Governance Plan to Use All Product Revenue for CRO Buyback and Burn

Odaily News: 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. Operating, infrastructure, and growth expenses are proposed to be covered by existing funds.

At the same time, 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, with the staking method, lock-up period, and reward structure remaining unchanged. The proposal is currently in the discussion stage and will later be submitted for on-chain governance voting; the voting period is 14 days, the quorum is 33.4% of staked CRO, and it can pass only with more than 50% of non-abstaining votes in favor.