Kroma Network Revamps Tokenomics, Unveils New Plans for KRO

Kroma Network Revamps Tokenomics, Unveils New Plans for KRO

Kroma Network, the Ethereum layer-2 network developed by Wemade subsidiary LightScale, has officially unveiled its revamped tokenomics via a Medium post. According to the announcement, the KRO token will see its total supply increase from 50 million to 1 billion, with the community allocation also set to rise to 17%. The community allocation will be vested over a period of 24 months. With the increased supply, Kroma aims to expand the use cases of KRO and attract a wider audience to the network. The token will be used for gas fees, staking, and governance, among other purposes. Kroma is set to conduct a token generation event (TGE) for KRO in Q3 of this year. The TGE will allow investors to purchase KRO tokens at a discounted price. Following the TGE, KRO will be listed on various cryptocurrency exchanges. The revamped tokenomics represent a significant milestone for Kroma Network. With the increased supply and expanded use cases, KRO is well-positioned to become a major player in the Ethereum ecosystem. In related news, Kroma recently announced a partnership with Chainlink to integrate Chainlink Price Feeds into its network. This integration will provide Kroma with access to reliable and tamper-proof price data, which can be used to develop a variety of decentralized applications.