The EOS Network Foundation (ENF) has unveiled a revolutionary new tokenomics model for the EOS Network, signaling the dawn of a transformative era for the ecosystem. This cutting-edge tokenomics proposal, endorsed by the EOS Network block producers following a supermajority consensus, is scheduled to go live on the EOS mainnet on June 1, pending the time-delayed execution of the multisig (MSIG) proposal.
The #EOS Network Block Producers have achieved a supermajority consensus to give the green light to the new tokenomics model proposal! Upon the time-delayed execution of the MSIG on June 1, network inflation will be permanently halted, and $EOS FDV will be slashed by 80%!
Key Highlights of the New Tokenomics Model:
Fixed Token Supply:
Transitioning from an inflationary model with a maximum supply of 10 billion tokens to a fixed supply of 2.1 billion tokens will create a more stable economic environment for the network by eliminating inflation.
Fully Diluted Value (FDV) Reduction:
An 80% reduction in the FDV of EOS will enhance the long-term value proposition for EOS holders, in line with the new tokenomics structure.
Halving Cycles:
The introduction of four-year halving cycles will regulate the influx of tokens into the market, ensuring a controlled and gradual supply release.
Middleware Operations:
Immediate funding allocation to support middleware operations aims to enhance the usability of EOS, bridging the gap between Web2 and Web3 experiences.
RAM Market Allocation:
A significant allocation of 350 million EOS is earmarked for RAM market enhancement, including the purchase of EOS RAM to ensure ample supply and liquidity, with the goal of expanding accessibility to the RAM market, currently valued at $300 million.
Staking Rewards:
High-yield staking rewards and adjustments to the staking lockup period aim to incentivize long-term commitment and active participation in the network.
Boosting Stability and Growth:
Yves La Rose, Founder and CEO of the EOS Network Foundation, expressed excitement about the new tokenomics model, emphasizing its significance for the EOS community. La Rose stated, “This new tokenomics model is a pivotal moment for the EOS ecosystem. By establishing a fixed token supply and introducing new mechanisms, we are paving the way for a sustainable and prosperous future for EOS. This strategic revamp will not only stabilize the token economy but also encourage active engagement and growth within the network.”
Established in 2021, the EOS Network Foundation envisions a flourishing and decentralized future. Through stakeholder engagement, community initiatives, ecosystem funding, and support for an open technology ecosystem, the ENF is reshaping Web3. Serving as the epicenter of the EOS Network, the ENF provides a premier open-source platform equipped with stable frameworks, tools, and libraries for blockchain deployments. Together, the ENF and the EOS community are dedicated to fostering innovation and building a brighter future for all.
The ENF remains committed to driving innovation and growth within the EOS Network. This tokenomics update marks a vital step towards unlocking the full potential of the blockchain, fostering a resilient and dynamic economic landscape. Renowned for its low-latency, high-performance, and versatile WebAssembly engine, the EOS Network continues to lead the way in delivering optimal Web3 user and developer experiences.
The approval of the new tokenomics proposal signifies a significant milestone for the EOS Network, ushering in a new era of growth and stability. With a fixed token supply, reduced FDV, and enhanced staking rewards, the EOS ecosystem is primed to attract long-term commitment and active engagement, solidifying its position as a prominent blockchain platform in the Web3 realm.