As a seasoned crypto investor with a strong background in blockchain technology and staking, I’m thrilled about the latest announcement from the EOS Network Foundation regarding their 250 million EOS staking rewards program. Having closely followed EOS since its inception, I’ve witnessed both its ups and downs and am excited to see this new era of staking for the platform.
Beginning July 8, 2024, individuals who stake EOS coins will become eligible for rewards. In the course of this program, a total of 250 million EOS coins will be distributed by the foundation towards its operations. The native staking process for EOS offers significantly higher annual percentage yields (APY) compared to popular DeFi platforms.
EOS stakers to grab 85,600 EOS daily as new program kicks off
According to the formal declaration from the EOS Network Foundation, the charitable organization responsible for the evolution and advancement of the EOS blockchain, introduces a staking rewards scheme worth 250 million EOS tokens under its updated economic model.
Starting July 8, 2024, this project kicks off with a new staking rewards system in place. Every day, a total of 85,600 EOS tokens will be allocated and given out to stakers.
In the updated EOS staking scheme, early participants are generously rewarded with an annual percentage yield (APY) exceeding 60%. Consequently, every year, a sum of 31 million EOS tokens is allocated for distribution among the stakers.
As a crypto investor in 2024, I’ve noticed some significant changes happening within the EOS Network. The tech design and community management have undergone major overhauls. Following several upgrades to its consensus algorithm, the EOS Network Foundation has initiated the transition of its tokenomics.
As a market analyst, I would explain that EOS, being the core platform for the exchange of resources among different network participants in the EOS ecosystem, undergoes structural modifications with regards to its RAM market. This change represents an alternative means for actors within the EOS network to generate revenue.
EOS staking changes narrative in blockchain’s economics
As an analyst, I’d rephrase it this way: The EOS Staking Rewards Program now comes with some significant improvements from my perspective. Previously, the lockup period for staking was set at four days. However, this term has been extended to 21 days moving forward. Additionally, a new incentive has been introduced where EOS Block Producers (BPs) will start receiving network-generated fees in addition to their block reward income. This change is expected to increase the motivation for infrastructure providers as the network demand continues to grow.
Previously reported by U.Today, EOS is currently undergoing a major overhaul of its tokenomics. Specifically, in Q2, 2024, a new EOS token program will be implemented with the goal of decreasing the token’s fully diluted valuation (FDV) by approximately 80%.
Additionally, the group of validators reached a consensus to establish four-year token issuance reductions. These reductions aim to regulate the supply of EOS tokens entering the market, leading to more foreseeable and stable economics for the token. This measure increases resistance against excessive selling pressure.
Validators aim to hasten the advancement of the EOS dApps ecosystem by setting aside funds for middleware development. This initiative is designed to improve EOS’s functionality, making it easier for users to transition from traditional web applications (Web2) to decentralized apps (Web3).
Read More
- USD ZAR PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD PHP PREDICTION
- USD COP PREDICTION
- TOWER PREDICTION. TOWER cryptocurrency
- AST PREDICTION. AST cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
2024-07-08 16:42