There is a notable $250 million staking prize program on the EOS Network as part of their plan to bring their community back to life. It changes a lot about how it does business and how it uses coins.
The news came from the EOS Network team’s blog. What an in-depth plan there is for how to give EOS tokens worth about $127 million to early donors as a reward.EOS’s new tokenomics plan wants to get more people involved and make the network more safe. This project is an important part of that plan.
Enhanced Staking Rewards and Sustainability Initiatives
As part of the new scheme, people who stake EOS tokens will receive about 85,600 tokens every day. This is an initial annual percentage yield (APY) of over 60%. As a prize, people who own REX tokens will get account tokens that will show how much of a stake they have in the network. The EOS Network made it clear that the value of the staking reward will change instantly based on how many EOS coins are staked or not.
One of the most important changes is that the lock-up time for staking has been increased from four days to twenty-one days. This change aims to increase stability and reduce the likelihood of short-term speculation having an impact on the EOS environment.
In order to encourage more people to join and keep the network running smoothly, EOS block producers will now get network-generated fees on top of their normal block payouts. It is expected that this structure of two incentives will encourage more infrastructure companies to join, especially since the need for network resources keeps growing.
When the EOS Network team talked about the new plan, they said a lot about how the program helps the environment grow as a whole and makes people money in the long run. It said on the EOS Network, “Our updated EOS staking program is meant to provide long-term benefits for our community, supporting the growth of a vibrant and sustainable ecosystem.”
Recently, the community made decisions in the EOS Network that led to this project. For example, it was agreed that the total number of EOS coins should be limited to 2.1 billion, and extra tokens should be burned in a planned way. This is a significant shift from EOS’s original plan to issue tokens, which was to keep the supply fixed and easy to control. It should cut down on future emissions by almost 80%.
With the launch of EOS in 2017, Block.one made it more famous after an innovative $4 billion initial coin offering (ICO). The job has been hard for us, though. The EOS Network Foundation and Block.one disagree on how to use the money from the ICO to make the network better.
The new staking awards program on the EOS Network is a smart way to get more people interested in the community and help the network last longer. Additionally, it demonstrates that the network is still steadfast in its desire for more people to use blockchain solutions. In the world of crypto, things are always changing. EOS is ready to adapt by taking a fresh look at how to run the environment and help the economy.
