EOS Network Prepares for Groundbreaking Tokenomics Upgrade: 80% Burn of Future Total Supply In Sight
EOS, a veteran blockchain, is poised for its most significant tokenomics upgrade to date, aiming to enhance scarcity and investor appeal.
In a bold move, the EOS Network Foundation has announced a radical adjustment to EOS's economic design, set to take effect on June 1, 2024. This overhaul includes an 80% reduction in the fully diluted valuation (FDV) of EOS, dropping the token supply from 10 billion to 2 billion.
Furthermore, the update introduces four-year halving cycles to regulate token distribution, ensuring a controlled release and fostering predictability in EOS tokenomics. This strategic shift aims to make EOS more resilient to market pressures and enhance its attractiveness to investors.
To support the growth of the EOS dApps ecosystem, validators have allocated funds for middleware tooling, focusing on improving EOS usability and bridging the gap between Web2 and Web3 experiences.
Yves La Rose, founder and CEO of the EOS Network Foundation, emphasizes the significance of this upgrade in shaping EOS's future:
"This new tokenomics model marks a pivotal moment for the EOS community. With a fixed token supply and innovative mechanics, we're paving the way for a sustainable and prosperous ecosystem. This strategic overhaul will not only stabilize the token economy but also drive active participation and growth."
Additionally, EOS validators have launched a 350 million EOS fund to enhance the protocol's RAM market, ensuring sufficient supply and liquidity. The introduction of high-yield staking rewards aims to incentivize long-term commitment and participation in the network.
As EOS prepares to enter this new era, the community eagerly anticipates the positive impact of these upgrades on the network's sustainability and growth. $EOS
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