Entity responsible for EOS Network, The EOS Network Foundation (ENF) unveiled the new tokenomics model that has been granted approval by the network producers after securing a majority consensus. Its contracts are expected to deploy to the EOS mainnet on June 1st, following the time-delayed execution of the multisig (MSIG) proposal.
The new tokenomics model presents a variety of essential advancements. It establishes a fixed token supply of 2.1 billion tokens, eliminating inflation and creating predictable economic conditions. The model also encompasses an 80% decrease in Fully Diluted Value (FDV), which aims to improve the long-term value proposition for token holders. Additionally, it implements four-year halving cycles to mediate EOS inflow into the market. Moreover, funding is allocated to help middleware operators, specifically concentrating on improving the usability of the token.
A significant distribution of 350,000,000 tokens will be allocated to improve the RAM market. EOS RAM will be obtained to guarantee adequate supply and liquidity, facilitating growth, and improving accessibility to the RAM market. Furthermore, high-yield staking rewards will be introduced, and the staking lockup period will be adjusted to encourage broader community participation.
The #EOS Network Block Producers have reached a super majority consensus to approve the new tokenomics model proposal! 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
— EOS Network Foundation (@EOSNetworkFDN) May 31, 2024
EOS Network Unveils Antelope Spring Beta-1 On Jungle Testnet To Enhance Blockchain Performance
The EOS token is the utility token of the EOS blockchain. It serves as a medium of exchange and provides governance rights, allowing holders to influence the network’s direction. Additionally, it grants access to network resources, among other advantages.
The EOS Network, initially developed by Block.one, garnered notable attention when it raised $4 billion during its initial coin offering (ICO) from 2017 to 2018. In August 2021, under the leadership of Yves La Rose, the EOS Network Foundation was established as a community-backed organization. It unveiled a new roadmap for the EOS ecosystem, signaling a fresh direction for the project.
Recently, EOS Network unveiled the Antelope Spring Beta-1 on the Jungle testnet. This latest version presents several features focused on improving blockchain performance, enhancing security measures, and fostering user engagement. This roll out is the first of multiple key milestones, with the final version slated for release on July 10th and a hard fork scheduled for July 31st.
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