DeFi

Block

Planet

Foundation

<div class="intro-text"> 
 The EOS community, in a significant move, has<a style="color: #0000ff;" href="https://twitter.com/BigBeardSamurai/status/1796370991880294746?t=Nxiksnr9M7kZQ9VQe0z-NQ&amp;s=19"> approved</a> a proposal to reduce by burning nearly 80% of the current $EOS supply. 
</div> 
The proposal, which included several key changes to<a style="color: #0000ff;" href="https://defi-planet.com/2022/03/a-brief-look-into-the-eos-ecosystem/"> EOS’s current tokenomics</a>, will reduce the current supply of 10 billion $EOS to just 2.1 billion in a bid to rekindle interest in the EOS ecosystem. 
Some of the changes made to the tokenomics include turning off the network’s inflation mechanisms. This move is designed to stabilise the value of $EOS by preventing the dilution of token value through continuous inflation. Four-year halving cycles will also be introduced to help manage the supply and reduce the number of new tokens minted over time. 
Another crucial aspect of the new tokenomics is capping the supply at 2.1 billion $EOS tokens. This fixed supply limit is intended to provide certainty and predictability for investors and developers, fostering a more stable economic environment. 
The proposal also outlined the minting of approximately 950 million $EOS tokens, which will be used for staking rewards tied to lockup periods. This incentivizes long-term holding and participation in network governance, contributing to the stability and security of the ecosystem. 
The EOS Network Foundation took<a style="color: #0000ff;" href="https://eosnetwork.com/blog/opt-out/"> control</a> of the project from Block One in 2021 amid controversies. Block One was criticised for allegedly failing to reinvest substantial portions of its $4 billion ICO proceeds into the EOS ecosystem. Interest in the ecosystem has waned since it raised $4 billion during the initial coin offering (ICO) period of 2017-2018. 
Since taking over, the Foundation has aimed to steer the project in a direction more aligned with community interests and long-term sustainability. 
<a style="color: #0000ff;" href="https://x.com/BigBeardSamurai/status/1783252167295389745">According to</a> Yves La Rose, CEO of the EOS Network Foundation (ENF), the successful approval of the proposal by the community marks a “new era” for the ecosystem. 
TO LEARN MORE ABOUT TOKEN BURNING, READ THIS: <a style="color: #0000ff;" href="https://defi-planet.com/2023/11/reducing-supply-increasing-value-the-magic-of-crypto-token-burning/">Reducing Supply, Increasing Value: The Magic of Crypto Token Burning</a> 
&nbsp; 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/05/the-eos-community-in-a-significant-move-has-approved-a-proposal-to-reduce-by-burning-nearly-80-of-the-current-eos-supply/">EOS Network Community Approves Proposal to Cut Token Supply by 80%</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

EOS Network Community Approves Proposal to Cut Token Supply by 80%

DeFi Planet

Weitere Artikel, die am 31. Mai 2024 veröffentlicht wurden

Tether invests $150M in Jihan Wu’s crypto mining firm Bitdeer

700M Dogecoin Bought By Whales In The Past 72 Hours: 'Price Action Incredibly Similar To That Of ...

Bitcoin Whale Sends Millions to Kraken as Blackrock’s ETF Attempts To Make History

Top Crypto Presales to Watch in June 2024 – $PLAY, $SEAL, $WAI, $DOGEVERSE, $DICE, and $99BTC

BREAKING – Trump Meme Coins Crash After Conviction In Stormy Hush-Money Case

Bitcoin Spot ETFs See Significant Net Inflows, Reaching $48.706M on May 30!

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!