EOS Network has announced the launch of a $250 million staking program designed to revamp the EOS tokenomics and enhance network development.
By participating in this new initiative, stakeholders can earn up to 85.6k EOS daily. The program aims to increase user engagement and investment with an attractive annualized percentage yield (APY) of 60%, distributing over 31 million EOS tokens annually to its participants.
Enhanced benefits for early participants
The newly introduced staking program significantly benefits early participants, who are poised to become key stakeholders. This incentive structure includes a 21-day lock-up period for assets, a substantial increase from the previously mandated four-day term. This change is part of a broader strategy to stabilize the network’s economy and encourage long-term participation.
The EOS Block Producers (BPs), decentralized entities responsible for maintaining network consensus, stand to gain from enhanced network-generated fees. This financial incentive complements their income from block rewards and stimulates active participation in EOS’s decentralized framework. On May 31st, Yves La Rose, CEO of EOS Network, declared that the network had agreed to implement these significant economic reforms.
Strategic tokenomics overhaul
Under the leadership of Yves La Rose, EOS has transitioned from an inflationary model to a deflationary tokenomics structure, setting a new cap at 2.1 billion tokens. The proposal has reduced the fully diluted value by 80% and introduced a four-year halving cycle to effectively manage the influx of new tokens. La Rose emphasized that these changes mark a “landmark occasion” for the community, aimed at fostering a sustainable and prosperous future for the EOS ecosystem.
Commitment to bridging technology gaps
The tokenomics overhaul also includes strategic funding for middleware operations, which will bridge the gap between traditional web technologies (Web2) and blockchain-based applications (Web3). Furthermore, the allocation of 350 million EOS for RAM market operations is part of a broader initiative to support the infrastructure essential for the network’s scalability and efficiency. These transformative steps underline EOS’s commitment to adapting and thriving in a rapidly evolving digital landscape.