Cronos Network: Completed First CRO Buyback and Burn, Cumulative Burn Reaches 1.7915 Million CRO

on October 30, Cronos Network announced it has completed its first CRO buyback and burn, marking the initial execution of its planned monthly burn mechanism. A total of 1,791,534.14 CRO were burned in this instance. The specific mechanism operates as follows: trading fees on the Ult platform will be used to buy back CRO, while token issuance fees from Cronos Launch will be entirely burned after conversion. As both Ult and Cronos Launch went live in September, this burn covers the initial fee revenue collected since their launch. Future monthly burn amounts will be determined based on the actual fees collected each month, with corresponding on-chain transaction records published simultaneously.