EOS Network Approves New Tokenomics Plan

As a researcher with a background in blockchain technology and experience following the developments of various cryptocurrency projects, I am particularly intrigued by the recent announcement from the EOS Network Foundation regarding the approval of the new tokenomics proposal.

Under the leadership of CEO Yves La Rose, the EOS Network Foundation has endorsed a crucial proposal. This proposal limits the maximum supply of EOS tokens to 2.1 billion, marking a substantial decrease from the initial plan of issuing 10 billion tokens. The implementation of this decision will destroy approximately 80% of forthcoming emissions, thereby establishing a fixed limit for the number of tokens in circulation.

Yves La Rose shared in a recent update on X that our community has reached an agreement regarding the proposed tokenomics adjustments, focusing mainly on upcoming tokens. Previously, the foundation put forth a multi-signature proposition which obtained the required consent from 15 out of the 21 EOS block producers.

The EOS Network has come to an agreement to adopt the proposed tokenomics changes! Here’s what that means:— Yves La Rose (@BigBeardSamurai) May 31, 2024

The foundation intends to produce an extra 950 million EOS tokens beyond the current supply limit. These new tokens will be distributed among stakers and block producers as rewards, aiming to encourage more engagement and commitment to the network.

After being formed by the EOS community, the EOS Network Foundation has unveiled a fresh plan and remains committed to spearheading significant projects aimed at strengthening the EOS platform. This encompasses overseeing the capital amassed during the historic $4 billion ICO orchestrated by Block.one between 2017 and 2018, amidst contentious debates regarding how best to utilize these resources for the network’s benefit.

As aanalyst, I’m excited to share that in the near future, we’ll be putting into action the plan for establishing a token supply cap. This move represents a pivotal moment in our foundation’s mission to strengthen and refine the underlying economic structure of our network.

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2024-05-31 15:33