Cronos CRO: Coin Burn
70 billion CRO will be burned according to the following schedule:59.6 billion will be burned today, 22nd Feb, 2021.10.4 billion is currently locked in a smart contract and will be burned monthly, as it gets unlocked.This will increase the circulating supply of CRO from current 24% to over 80%.The remaining 5.9 billion CRO supply will be distributed as follows:5 billion CRO will be allocated to mainnet block rewards for Chain validators and delegators which helps secure the network.0.9 billion CRO will be allocated to Particle B for Chain ecosystem development.And that’s it.That’s 100%.
What is coin (token) burn?
A coin (token) burn is a process of sending a certain amount of cryptocurrency to a public address that has unobtainable private keys. In the future, the sent coins cannot be spent, thus the coin burn leads to an overall decrease in the cryptocurrency circulating supply.
