EOS Network Foundation to cap token supply at 2.1 billion

As a researcher with experience in the blockchain industry, I am closely following the developments within the EOS ecosystem, and I am particularly intrigued by the recent announcement made by Yves La Rose, CEO of the EOS Network Foundation. The approval of the community proposal to cap the EOS supply at 2.1 billion tokens and burn the excess is a significant move that will have far-reaching implications for the network.

Yves La Rosse, the CEO of the EOS Network Foundation, made an announcement: A community initiative received approval, leading to the capping of the EOS token supply at 2.1 billion and subsequently burning any surplus tokens.

After being put into effect, the plan calls for approximately 80% of the entire EOS token inventory to be consumed, predominantly derived from new issuances. This results in a capped supply of 2.1 billion tokens instead of the initial 10 billion.

The EOS Network Foundation represents the EOS community and took control from Block.one in 2021.

As a crypto investor, I’ve noticed that the foundation put forward a multi-signature proposal aimed at setting a fixed supply for this cryptocurrency. This proposal received the green light from no less than 15 out of the 21 EOS block producers who have the authority to approve such changes.

In a recent X post, La Rose announced that the EOS Network community has agreed upon the approval of the proposed tokenomics.

In the near future, the first round of improvements is anticipated. Currently, there are approximately 1.15 billion EOS tokens in circulation, which equates to around 54% of the eventual total issuance.

In his post, La Rose mentioned that a total of 950 million EOS tokens will be created to foster expansion and incentivize initiatives within the ecosystem, including compensating stakers and block producers.

As a researcher studying the EOS Network, I’m thrilled to announce that we have reached consensus on the tokenomics proposal. Here’s a breakdown of the key changes:— Yves La Rose (@BigBeardSamurai) May 31, 2024

As a crypto investor, I’m excited to share that under the guidance of Yves La Rose, the EOS Network Foundation was established in August 2021, marking a significant milestone for our community-driven initiative. This foundation unveiled an inspiring new roadmap for the EOS ecosystem.

As a researcher, I’d describe EOS as a blockchain platform that initially emerged from the work of Block.one. It made a significant splash on the scene by amassing an impressive $4 billion in funding through its initial coin offering (ICO), which took place between 2017 and 2018.

Under the guidance of La Rose, the EOS Network Foundation was established as a non-profit entity in the year 2021. Its primary goal is to foster the growth and development of the EOS Network and its associated community.

As a researcher looking into the history of EOS, I’ve come across reports of disagreements between the EOS Foundation and Block.one. According to these accounts, the foundation has accused Block.one of failing to fulfill its promise by not investing a significant portion of the funds raised during the Initial Coin Offering (ICO) back into the development of the EOS Network.

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2024-05-31 23:10