EOS Network Unveils Staking Rewards Initiative
- PHPzOriginal
- 2024-07-12 10:13:19841browse
On July 8, EOS Network has launched a revamped staking rewards program, allocating 250 million EOS tokens to this new program as part of their new tokenomics plan.
Get up to speed on the latest EOS news. Discover the recently launched staking rewards program, new tokenomics highlights, and more.
Key points:
On July 8, EOS Network unveiled a revamped staking rewards program, allocating 250 million EOS tokens to this new program as part of their new tokenomics plan.
Stakers can earn an impressive initial APY of over 60%, with 85,600 EOS that will be distributed daily. The program also introduces a longer 21-day lock-up period and provides additional income to EOS Block Producers through network fees.
A month ago, EOS block producers approved new tokenomics and transitioned to a fixed 2.1 billion token supply, cutting FDV by 80%. They also allocated 350M tokens to boost the RAM market and introduced a 4-year halving cycle.
EOS Network announces staking rewards initiative
The EOS Network has introduced a major update to its tokenomics plan by launching a new staking rewards program, distributing 250 million EOS tokens to participants. This initiative is part of the network's strategy to improve ecosystem growth and incentivize early participation.
As part of this program, a daily distribution of 85,600 EOS tokens will be allocated to stakers, amounting to over 31 million tokens being distributed annually. This program offers an initial annual percentage yield (APY) exceeding 60%, rewarding early adopters significantly.
Several notable enhancements accompany the updated EOS staking program. The lock-up period for staking has been extended from four days to 21 days, providing a more sustainable staking environment. Additionally, EOS Block Producers (BPs) will now receive network-generated fees on top of their block rewards, further encouraging infrastructure support as the network grows.
The redesigned staking program aims to offer sustainable rewards for participants and bolster the overall ecosystem.
EOS Network is set to improve its network performance and the engagement of its participant with the introduction of this new staking rewards program, which is designed to drive ecosystem growth and provide substantial incentives for early participation.
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