Markets News Report Technology
July 08, 2024

EOS Network Unveils 250M EOS Staking Program As Part Of Its Updated Tokenomics Strategy

In Brief

EOS Network introduced 250 million EOS staking rewards program, forming a key component of the network’s updated tokenomics strategy.

EOS Network Unveils 250M EOS Staking Program As Part Of Its Updated Tokenomics Strategy

Blockchain platform for commercial-scale decentralized applications (dApps), EOS Network (EOS) unveiled the introduction of a 250 million EOS staking rewards program. This initiative forms a key component of the network’s updated tokenomics strategy.

Under the revised staking rewards schedule, 85,600 EOS tokens are distributed daily to stakers. The updated EOS staking program incentivizes early participants with an initial annual percentage yield (APY) exceeding 60%. This results in over 31 million EOS tokens being distributed annually to stakers.

Furthermore, the EOS Staking Rewards Program includes essential improvements. The staking lock-up period was extended from four to twenty-one days. Moreover, EOS Block Producers (BPs) will now receive network-generated fees in addition to their block reward income, enhancing incentives for infrastructure providers as network usage increases.

The revised EOS staking program aims to offer consistent rewards to participants while fostering growth within the ecosystem.

The recent upgrade to EOS Staking aligns with EOS Network’s updated tokenomics, which was introduced last month. The EOS System Contracts v3.4.0 upgrade and the tokenomics changes incorporate several key adjustments, encompassing the creation of new accounts or buckets, deployment of updated system contracts, implementation of MSIG execution timelines, retirement of unvested b1 tokens, establishment of maximum and fixed supply limits.

Additionally it includes transfer of EOS to distribution accounts, adjustment of inflation pay factors and pay factor settings, setting and execution of vesting schedules, system fee enhancements and configuration, and determination of savings distribution ratios.

EOS Network Enhances Performance With Antelope Spring Beta-1 Release 

It operates as a Layer 1 blockchain platform based on the open-source Antelope protocol.

Recently, EOS Network introduced the Antelope Spring Beta-1 on the Jungle testnet. This new release includes various features aimed at enhancing blockchain performance, improving security measures, and increasing user engagement. It marks the initial phase of several major milestones, with the final version set to launch on July 10th and a hard fork planned for July 31st.

Disclaimer

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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