EOS Network unveils 250 million staking program

EOS Network has revealed a new staking program to bolster the network's development plan to improve the EOS token economy. Participants in the program will receive 85,600 EOS daily.

According to the EOS Network, early participants will be the most privileged parties. The staking program will bring an annual percentage rate of 60% and over 31 million EOS tokens will be distributed to stakers annually. The reward program will allow participants to lock their assets for 21 days, an increase from the previous locking period of only 4 days.

APY Rewards staking REX | *Source: EOS Network

EOS Block Producers (BPs) are centralized organizations that manage the EOS Network and enable consensus. A reward program is established to distribute fees generated by the network to these groups to supplement their income from block rewards earned by bringing the network to consensus. According to the EOS Network, rewarding BPs will support the development of the ecosystem by incentivizing the operation of block producers in this public blockchain.

CEO of EOS Network comments on this proposal

The staking program is part of the plan to enhance the economic potential of EOS through token conversion economic models. On May 31, Yves La Rose, CEO of EOS Network, announced that the network had reached consensus to “approve the token economic proposal,” marking a major change in the ecosystem.

EOS has also released a blog post detailing the proposed token economy. The post reveals that the network's BPs are almost unanimous in agreeing with the proposal to introduce new reforms. The proposal has introduced key features such as fixed token supply, complete dilution value reduction, halving cycle, middleware operation, RAM market allocation, and a 250 million dollar staking reward program.

EOS Network BPs accept proposal for new token economy

EOS has changed its token economy from inflation to deflation with a new maximum token supply of 2.1 billion tokens. The proposal also emphasizes a complete dilution reduction of 80% to correspond to the structure of the new token economy. This proposal also introduces a four-year halving cycle to control the issuance of new tokens and manage the potential token supply.

This new token-based economic model represents a milestone event for the EOS community. By establishing a fixed token supply and introducing new mechanisms, we are ensuring a new era of sustainability and prosperity for the EOS ecosystem," said Yves La Rose.

EOS's proposal encourages funding for middleware software activities to bridge the gap between Web2 and Web3. The 'New Era' of EOS also involves allocating 350 million EOS to the RAM market. One of the most notable changes is the introduction of a high-yield staking program, which has finally become a reality. This program aims to reward long-term active participants in the network.