Cryptocurrency Q&A
How many coins will CRO burn?
How many coins will CRO burn?
Valentina
Tue May 21 2024
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6 answers
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Could you please elaborate on the matter of CRO coin burning? I'm particularly interested in understanding how many CRO coins will ultimately be burned. This information is crucial for me to make informed decisions in the cryptocurrency market. Could you provide an estimate or any insights into the process of coin burning and its potential impact on the CRO ecosystem? Your expertise in this field would be greatly appreciated.
6 answers
MountFujiMysticalView
Thu May 23 2024
This burning mechanism is a key aspect of Crypto.com's tokenomics. It ensures that the CRO token supply remains controlled and does not become excessively inflated.
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TaegeukChampion
Thu May 23 2024
Monthly, a significant amount of Cro tokens are designated for burning. This process involves the elimination of tokens from the total supply, effectively reducing their overall availability.
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Valentino
Thu May 23 2024
Specifically, an additional 10.4 billion Cro tokens are held within a smart contract. As these tokens become unlocked, they are automatically directed for burning.
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KimchiChic
Wed May 22 2024
In total, 70% of Crypto.com's original CRO token supply, equivalent to 70 billion tokens, will be burned over time. This represents a significant reduction in the overall token supply.
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GyeongjuGrace
Wed May 22 2024
The burning process serves to increase the scarcity of CRO tokens, potentially leading to higher prices and increased demand. It also aligns with Crypto.com's vision of creating a sustainable and valuable digital asset.
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