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EOS Pursues MEGA Ambition with Latest Tokenomics Model

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Make EOS Nice Once more – that’s the mantra of the EOS Community Basis, which lately green-lit a proposal to cap the chain’s token provide at 2.1 billion.

Per the Could 31 announcement, EOS will burn 80% of its future token provide, transitioning from an inflationary token capped at 10 billion to a hard and fast provide of two.1 billion. And that’s simply the beginning.

One among a raft of updates launched because the ENF started manually funding EOS Labs as a wholly new entity final yr, the tokenomics improve can even see the implementation of quadrennial halvings a la Bitcoin. The brand new tokenomics mannequin is “designed to boost the financial potential of the EOS ecosystem” and mark a “New Period for EOS.”

A MEGA Improve

The daring proposal, which was put ahead by ENF boss Yves La Rose in April, was handed by an excellent majority consensus of EOS Block Producers.

“Excessive liquidity with expectation of inflation will increase the problem of market making, and the market worth rating of EOS continues to say no,” learn the proposal, underlining the necessity for such a change. EOS launched with a 1 billion token provide and annualized 5% inflation in 2018.

By lowering its token’s Totally Diluted Worth (FDV) by a gargantuan 80%, the ENF hopes to eradicate inflation and improve long-term worth for the EOS neighborhood. The addition of halving cycles, in the meantime, is meant to average the inflow of tokens coming into the market. Of the two.1 billion fastened provide, 1.15bn is already in circulation (54% of whole provide).

Whereas the inflation-tackling measures understandably generated essentially the most headlines, there have been different provisions baked into the proposal. For instance, 250 million EOS tokens (round $142 million at as we speak’s costs) had been allotted in direction of staking rewards for EOS and RAM, with the speed of reward emissions to be ruled by EOS block producers.

EOS staking rewards are anticipated to start by the top of June with the implementation of REX 2.0.

If the introduction of quadrennial halvings inevitably evoked the specter of Bitcoin, the proposal’s point out of high-yield staking rewards calls to thoughts the DeFi-centric Ethereum and Layer2 panorama.

Elsewhere within the proposal, it was stipulated that 350 million EOS tokens are to be locked in a devoted account managed by ENF and Labs and allotted in direction of nurturing the chain’s RAM market cap, which already stands at $300 million.

These efforts will embody earmarking funds for the programmatic buy of RAM from the Bancor pool to help funding of ecosystem initiatives. In time, EOS customers can even acquire the flexibility to stake their RAM – though this contract continues to be beneath growth.

RAM is significant to the EOS community’s performance, facilitating operations like account creation and dApp execution.

“This strategic overhaul won’t solely stabilize the token economic system but additionally incentivize energetic participation and development inside the community,” predicts La Rose.

For the ENF, the replace is seen as a shot within the arm for the blockchain because it appears to be like to revitalize its ecosystem and unlock worth for token-holders, notably by primitives like staking, inflation protections, and RAM market help.

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