The idea to reprint 70 billion previously burned tokens is being considered by Crypto.com's Cronos blockchain.

A plan to reissue 70 billion CRO tokens that were burned in 2021 is being considered by Cronos, the Layer 1 blockchain connected to Crypto.com. This would return the overall token supply to its initial 100 billion CRO.

With a five-year vesting timeline, this plan seeks to allocate these 70 billion tokens ($6.3 billion) to a "strategic reserve wallet."

According to the proposal, Crypto.com intends to apply for CRO as an exchange-traded fund in an effort to capitalise on the rising institutional interest in cryptocurrency.

In order to boost decentralisation efforts prior to Cronos' mainnet debut, the 2021 burn, which was heralded as one of the greatest in crypto history, decreased the supply from 100 billion to 30 billion CRO tokens.

The X community has responded negatively to the plan, with some describing it as "dodgy" and others as a "step backward."

As part of its MCO Visa Card program, Crypto.com first introduced the Monaco Coin (MCO). Later, it moved to its own blockchain and changed the name of MCO to CRO, which is currently the native token of the Cronos Chain.

The mainnet, created with the Cosmos SDK, launched in November 2021 following a rebranding to Cronos in February 2021. A Cronos zkEVM Layer 2 blockchain on Ethereum has also been developed.

At a $2.4 billion valuation, CRO currently has a maximum supply cap of 30 billion tokens, out of a circulating supply of 27.3 billion. According to The Block's price website, the price of the CRO token has risen by more than 20% in the last day.

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