Great point! From the original community consensus on the burning mechanism + the successful burns that followed, the $CRO in the burn pool is already effectively removed from circulating supply. The gov proposal is the final step to formally move it to the burn address.
With the new tokenomics we introduced this week, we’re entering a new era where additional revenue streams will also contribute to burns. So yeah, smoothing the process with greater transparency is definitely something we’re aiming to ship. 🧑💻
@0x_rdel@Fwiz@CronosApp Hi @0x_rdel - The burn amount first goes into the "burn pool". We then submit a gov proposal to move it to the burn address and remove it from circulating supply. Will put in the work and make the 🔥🔥happen soon!
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✅ Cronos v7 UPGRADE COMPLETE!
⛓️Network is back online.
🫴Emissions decay in place.
💎Tiered staking coming to supercharge yields for committed holders
♾CRO goes from inflation-funded rewards to a revenue-backed model powered by upcoming @CronosApp and the broader ecosystem.
The new era begins.
Entering, the New Era Of $CRO
👷♂️The upgrade height of @CronosNetwork v7 is here!
Teaming up with validators and devs to bring the new era online!
Sit back, relax — a greater, better Cronos is coming ahead for @CronosApp 🚀
Reminder: Cronos v7 upgrade is today at block 29,782,800 (~7AM UTC).
Expected downtime: ~120 mins.
📌 Actions required
Validators and full nodes: upgrade chain-maind at the upgrade height. Binaries and checksums available on the chain-main releases page.
The @CronosApp team has massively pushed what a Cosmos chain is capable of -- 10k TPS proven in production
The upcoming release upstreams many of their improvements and adds more to massively increase baseline and best case Cosmos performance
Let's look at real on-chain history for a practical perspective: Block #29,227,348 processed 5,400+ transactions (top-level + internal) in just 0.5 seconds — that's 10k+ TPS in a real block. And it only used half of the block space!
Ref: https://t.co/sriQRjmk2S
⚡️ @CronosNetwork : Sub-0.5s block time with 0s instant finality!
Source: @chainspect_app
🦾That's the infra we've built for @CronosApp — The upcoming world-class mobile-first trading platform with tokenised stocks, prediction markets & more!
@birthe_bot@Luisfaj215@Johyo_cro@Fwiz@nguy_thomas 2/ Mathematically - The decaying inflation rate is designed so the supply will never hit 100B, while still providing a smooth transition. Brick by brick, this allows protocol revenue to ramp up naturally as @CronosApp and the broader ecosystem grow.
@birthe_bot@Luisfaj215@Johyo_cro@Fwiz@nguy_thomas Thanks both! 👍 On honoring the 100B max cap: Two key ways we reinforce it:
1/ At the code level we’ll implement a supply check at each block on the inflation module, enforcing a hard cap of 100B (see the logic here: https://t.co/LDp2nKqf9Q).