Cronos Network Burns 1.79 Million Cronos (CRO) in First Buyback

Cronos Network has completed its first monthly buyback and burn, removing 1,791,534.14 Cronos (CRO) in a transaction valued at about $92,000. The transaction begins the rollout of a community-approved tokenomics plan. The plan directs 100% of revenue from Cronos Ult and Cronos Launch toward open-market CRO purchases, with the tokens then burned. The community approved the buyback and burn plan , which calls for monthly burns. Cronos Network plans to make the transaction hash public for each buyback. The first purchase is the initial transaction under the monthly program. Simon Yoon reports on blockchain technology for TokenPost.

Source: TokenPost