EOS Network Adopts Revolutionary Tokenomics Model, Marking a New Era
The EOS Network Foundation (ENF) is excited to announce that EOS Network has approved a revolutionary new tokenomics model that will boost the ecosystems economic potential and usher in a New Era for EOS.
The #EOS Network Block Producers have reached a super majority consensus to approve the new tokenomics model proposal!
EOS Network Foundation (@EOSNetworkFDN) May 31, 2024
Upon time delayed execution of the MSIG on June 1, network inflation will be permanently halted and $EOS FDV will be reduced by 80%!https://t.co/By9UPRL3Tx pic.twitter.com/2yjVqo2M7m
After achieving a super majority consensus, the EOS Network block producers adopted the proposal for the new tokenomics model. After the multisig (MSIG) proposal is executed with a time delay, the new system contracts will be deployed to the EOS mainnet on June 1. The new tokenomics model adds a number of significant elements designed to foster stability and long-term development, including:
Fixed Token Supply: To reduce inflation and provide a more stable economic environment, EOS will go from an inflationary token supply with a maximum quantity of 10 billion tokens to a fixed supply of 2.1 billion tokens.
Fully Diluted Value Reduction: In order to better represent the new tokenomics structure and improve the long-term value proposition for EOS holders, the Fully Diluted Value (FDV) of EOS has been lowered by 80%.
Halving Cycles: Four-year halving cycles will be used to regulate the amount of tokens that enter the market and ensure a controlled release.
Middleware Operations: Funding will be allocated immediately to assist middleware operations, with an emphasis on improving EOSs usability to bridge the experience gap between web2 and web3.
RAM Market Allocation: A sizeable 350 million EOS have been set aside for the purpose of expanding the RAM market. To guarantee enough supply and liquidity provisioning to expand and improve accessibility to the RAM market, this involves acquiring EOS RAM. As of the time of writing, RAM has a $300 million market capitalization.
Staking Rewards: To encourage sustained involvement in the network and long-term commitment, high-yield staking incentives have been introduced coupled with modifications to the staking lockup period.
Yves La Rose, Founder and CEO of the EOS Network Foundation, commented:
This new tokenomics model represents a landmark occasion for the EOS community. By establishing a fixed token supply and introducing new mechanics, we are ensuring a sustainable and prosperous new era for the EOS ecosystem. This strategic overhaul will not only stabilize the token economy but also incentivize active participation and growth within the network.
The ENF is still dedicated to promoting development and innovation within the EOS Network. The realization of the blockchains full potential and the establishment of a stable and dynamic economic environment are made possible by this tokenomics update.
EOS Tokenomics Resources:
A New Era in EOS Tokenomics, Part I: Unlocking Economic Potential
Discussing the New Tokenomics Proposal: Monthly Block Producer MeetingApril 2024
EOS Network
The EOS Network is a third-generation blockchain platform that was designed specifically to provide the best possible Web3 user and developer experiences. It is driven by the EOS VM, a low-latency, very performant, and extensible WebAssembly engine for deterministic execution of almost feeless transactions.
EOS Network Foundation
The idea of a thriving, decentralized future gave rise to the EOS Network Foundation (ENF). The ENF is reshaping Web3 via community programs, ecosystem funding, interaction with key stakeholders, and support of an open technology ecosystem. EOS Network, a well-known open source platform with a selection of reliable frameworks, tools, and libraries for blockchain deployments, is centered on the ENF, which was founded in 2021. It is devoted to a brighter future for all and are introducing ideas that their community creates together.
Read more: https://thenewscrypto.com/eos-network-adopts-revolutionary-tokenomics-model-marking-a-new-era/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
