EOS Foundation CEO Unveils New Tokenomics Proposal, Sets 80% Token Burn

IconCrypto News Terminal25 Apr, 2024

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EOS Foundation CEO Unveils New Tokenomics Proposal, Sets 80% Token Burn

The EOS Foundation CEO has proposed a new tokenomics model that would reduce the total supply of EOS tokens by 80%. The proposal, which was unveiled at the recent EOSIO Global Summit, would see the current supply of 900 million EOS reduced to just 180 million. The proposed tokenomics model would set a fixed supply of 180 million EOS tokens, with 80% of the existing supply being burned. This would make EOS one of the most scarce cryptocurrencies on the market, with a supply that is less than half of Bitcoin's current supply. The proposal has been met with mixed reactions from the EOS community. Some have welcomed the proposed changes, arguing that they would reduce inflation and increase the value of EOS tokens. Others have expressed concerns about the impact of such a large token burn on the EOS ecosystem. Previously on 20 April 2024, EOS Foundation announced the integration of the EOSIO blockchain with Ethereum, allowing for cross-chain transactions between the two networks.

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