Home News coinquora.com Crypto.com Begins 70B CRO Burn: Mainnet to Launch on March 25

Crypto.com Begins 70B CRO Burn: Mainnet to Launch on March 25

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  • Crypto.com will launch its mainnet Crypto.org Chain on March 25.
  • Today, Crypto.com began the 70 billion Crypto.org Coin (CRO) token burn.
  • This is the largest token burn in history.
  • Crypto.org Chain is a public, open-source, and permissionless blockchain.

Today, Crypto.com begins a 70 billion Crypto.org Coin (CRO) token burn. CRO is the native currency for the Crypto.com platform. Additionally, Crypto.com is ready to launch its mainnet on March 25, 2021.

70 Billion CRO Burn Starts Today

The 70 billion CRO burn is taking place using the following schedule. On February 22, the platform will burn 59.6 billion CRO. Accordingly, the remaining 10.4 billion CRO will be burned.

These CRO tokens are currently locked in a smart contract and will be burned monthly, as it gets unlocked. In this way, the circulating supply of CRO increases from the current 24% to over 80%.

More so, 5 billion CRO is set towards mainnet block rewards for Chain validators and delegators. Notably, this helps secure the network. Furthermore, the remaining 0.9 billion CRO is set for Particle B for Chain ecosystem development.

Mainnet Crypto.org Chain Will Launch on March 25

Additionally, Crypto.com is ready to launch its mainnet known as the Crypto.org Chain. Notably, the research for the mainnet took 2 years. It functions as a public, open-source, and permissionless blockchain. In detail, Crypto.org Chain is a decentralized network. Specifically, the design makes it function as a public good driving mass adoption of blockchain technology.

“We believe that the world needs a fully decentralized, open-source, public chain with high speed and low fees.” expressed Crypto.com in their announcement.

Furthermore, the platform expects hundreds of validators to participate at the mainnet launch. Moreover, millions of individual users may also contribute to network security via its Delegated Proof of Stake model or by simply using Crypto.com’s DeFi Wallet.

Crypto.com is looking forward to joining all ecosystem partner projects and all contributors in building the world’s best infrastructure for payments, DeFi, and NFTs.

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