EOS Launches Staking Program with 250 Million Token Rewards
On July 8, EOS Network has launched a revamped staking rewards program, allocating 250 million EOS EOS, 0.30% to this new program as part of their new tokenomics plan.
KEY HIGHLIGHTS
EOS Network introduces a 250 million token staking rewards program to enhance its tokenomics.
Participants can earn an initial annual percentage yield (APY) of over 60%.
New features include a 21-day lock-up period and additional rewards for Block Producers.
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 unveils 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.
Under the revamped staking schedule, a daily distribution of 85,600 EOS tokens will be allocated to stakers, resulting in over 31 million tokens distributed annually. This program offers an initial annual percentage yield (APY) exceeding 60%, rewarding early adopters significantly.
EOS staking rewards
Key changes in the staking program
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.
Bottom line
EOS Network's new staking rewards program is designed to drive ecosystem growth and provide substantial incentives for early participants. With the introduction of extended lock-up periods and additional rewards for Block Producers, EOS is set to improve its network performance and the engagement of its participant.
AUTHOR
Aaron Watts
Aaron is passionate about technology and finance. Aaron first discovered blockchain technology in 2016. After learning about the transformative power of crypto, which he primarily credits to Alex Tapscott's Blockchain Revolution, he sought to expand his knowledge by becoming more intimately involved with the blockchain space. He joined CoinCodex in 2018 and has since been covering a variety of topics, ranging from Bitcoin and Ethereum to NFTs and the metaverse.