Crypto.com, an outstanding cryptocurrency exchange, is under intense scrutiny after a last -minute government proposal was approved to Mint 70 billion tokens.
- The proposal impacts Cronos, a block chain developed by Crypto.com to support decentralized finance applications (DEFI) and Web3.
Quick Take offers key data quickly: concentrate, clear and easy to read. Perfect for occupied readers.
Key details:
- The proposal initially fought To reach the required quorum of 33.4%, but the approval increased after the validators controlled by Crypto.com issued 3.35 billion votes Cro just before the deadline.
- The coined invests a 2021 Token burn destined to permanently reduce the supply of Cro. The new tokens will be stored in a strategic reserve wallet with a five -year award schedule.
- Independent validators opposed the move, but the validates affiliated with Crypto.com decisively increased the vote.
Cro’s price fell more than 3% after vote, generating generalized community dissatisfaction and concerns about decentralization and trust.
Andre Chronje, an outstanding cryptographic figure and founder of Sonic Blockchain, criticized the decision on Twitter:
Tomorrow Cronos passes from $ 2.5 billion to MCAP of $ 8.5 billion with a single vote and all he needed was a single voter.
- MCAP are a meme.
- Decentralization does not matter, until it does.
- Immutability does not matter, until it does.
Andre Chronje, Sonic Blockchain in Twitter
This fast -shot article is published in bitpins: Take Quick: Crypto.com FACES RACKLASH after approved the coined 70 billion tokens cro
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