So crypto.com which is a big cryptocurrency exchange have announced their plans to actually destroy up to 70 billion of its own token named the " CRO"
And this is happening as the exchange prepares to actually launch their own mainnet blockchain and the launching will be done in March.....
The burning of those CRO tokens can be considered to be “the largest in history,”and the crypto exchange have confirmed that they will commence with the effective burning of the 59.6 billion CRO this week....
And that The remaining 10.4 billion CRO tokens will be burned monthly as all the tokens are been unlocked from smart contracts.....
Recently it has been aconfirmed that The circulating supply of the CRO token will actually increase to over 80% which is a rise from its current 24% and that is part of the plan of the Crypto.com’s bid to be able to actually “fully decentralize” its Chain network.....
The burning of those tokens will leave up to 5.9 billion tokens to be actually allocated for various block rewards and also an ecosystem development.....
So in other news, the exchange Crypto.com has also recently announced that theit “Crypto.org Chain” blockchain will definitely be launched on the mainnet in March 25, and the CRO token will become the native currency
Kris marszalek who is the CEO of the exchange have said it's company plans to “build its payments, the DeFi and also [non-fungible token] offerings on top of the Crypto.org Chain,....
Well this is a good initiative by crypto come and I wish them a successful project.....