The EOS Network Foundation (ENF) is thrilled to announce that the EOS Network has given its approval to a groundbreaking new tokenomics model that will enhance the economic potential of the ecosystem and bring about a “New Era” for EOS.
Following the attainment of a super majority consensus, the EOS Network block producers have adopted the proposal for the new tokenomics model. Once the multisig (MSIG) proposal is implemented with a time delay, the new system contracts will be deployed to the EOS mainnet on June 1. The new tokenomics model introduces several significant elements aimed at fostering stability and long-term development, including:
1. Fixed Token Supply: In order to reduce inflation and establish a more stable economic environment, the total token supply of EOS will transition from being inflationary with a maximum quantity of 10 billion tokens to a fixed supply of 2.1 billion tokens.
2. Fully Diluted Value Reduction: To better reflect the new tokenomics structure and enhance the long-term value proposition for EOS holders, the Fully Diluted Value (FDV) of EOS has been reduced by 80%.
3. Halving Cycles: Four-year halving cycles will be implemented to regulate the influx of tokens into the market and ensure a controlled release.
4. Middleware Operations: Immediate funding will be allocated to support middleware operations, with a focus on enhancing the usability of EOS to bridge the gap between web2 and web3 experiences.
5. RAM Market Allocation: Approximately 350 million EOS tokens have been reserved to expand the RAM market. This involves acquiring EOS RAM to ensure an adequate supply and improved accessibility to the RAM market. At present, the RAM market has a market capitalization of $300 million.
6. Staking Rewards: To incentivize sustained participation in the network and encourage long-term commitment, high-yield staking incentives have been introduced along with modifications to the staking lockup period.
Yves La Rose, the Founder and CEO of the EOS Network Foundation, expressed his thoughts, stating:
“The ENF remains dedicated to promoting development and innovation within the EOS Network. This tokenomics update enables the realization of the blockchain’s full potential and the establishment of a stable and dynamic economic environment.”
EOS Tokenomics Resources:
– A New Era in EOS Tokenomics, Part I: Unleashing Economic Potential
– Discussion of the New Tokenomics Proposal: Monthly Block Producer Meeting—April 2024
EOS Network:
The EOS Network is a third-generation blockchain platform designed specifically to provide the best possible user and developer experiences in the Web3 environment. It is powered by the EOS VM, a WebAssembly engine that ensures low latency, high performance, and extensibility for the deterministic execution of nearly feeless transactions.
EOS Network Foundation:
The EOS Network Foundation (ENF) was established with the vision of a thriving, decentralized future. The ENF is reshaping Web3 through community programs, ecosystem funding, engagement with key stakeholders, and support for an open technology ecosystem. The ENF is centered around EOS Network, a renowned open-source platform featuring reliable frameworks, tools, and libraries for blockchain deployments. Founded in 2021, the ENF is committed to creating a brighter future together with its community.