EOS Network launches multi-million dollar staking rewards program.
Staking rewards will be halved every four years.
EOS Network Foundation, the major developer of the EOS blockchain, announced the launch of its staking rewards program aiming to disburse over 250 million $EOS tokens to stakers. The rewards program is part of the revamped tokenomics plan on the blockchain to enhance the adoption of the platform.
The new staking rewards program will distribute 85,600 EOS tokens every day (or 31 million tokens annually) to stakers from the pre-allocated reward pool. The staking rewards schedule is set to be halved every four years, with the current APY standing at 50% – and will fluctuate depending on the amount staked on the platform.
The first period will have 125,000,000 EOS distributed to stakers across 4 years. Notwithstanding, the rewards program is set to introduce a new lock-up period, increasing from four days to 21 days to receive the rewards. Stakers cannot unstake their tokens during the lock-up period. Additionally, EOS Block Producers (BPs) will begin receiving network-generated fees on top of their block reward income, further incentivizing infrastructure providers as network demand increases.
Image: EOS Network Foundation
The new tokenomics proposals will also cap the total EOS tokens supply at 2.1 billion and introduce token vesting schedules for network custodians such as block producers, the EOS Network Foundation (ENF), and EOS Labs. Furthermore, the EOS Network will allocate 315 million $EOS for market making and liquidity provisioning across both centralized exchanges and DeFi across multiple blockchains.
These tokenomics updates also set the stage for subsequent enhancements to REX, including EOS staking rewards, and a more flexible distribution of system fees.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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