EOS Network Foundation CEO Yves La Rose announced in a statement that a community proposal to limit the EOS supply to 2.1 billion tokens has been approved.
Proposal to Limit EOS Supply to 2.1 Billion Tokens Approved
The plan involves burning approximately 80% of the total EOS supply, mainly from future emissions, to set a fixed supply limit of 2.1 billion tokens, greatly reduced from the previously planned 10 billion.
This decision follows a multi-signature proposal submitted by the EOS Network Foundation, which required and successfully garnered approval from at least 15 of the 21 EOS block producers.
“The EOS Network reached consensus to approve the tokenomics proposal,” La Rose said in a post on X.
Supply capping and token burning is expected to begin in the coming months. Currently, EOS has a circulating supply of 1.15 billion tokens, which is 54% of the newly set cap.
As part of the new tokenomics plan, an additional 950 million EOS tokens will be minted to support ecosystem growth and activities, including rewarding stakers and block producers, as stated by La Rose.
Established in August 2021 under the leadership of La Rose, the EOS Network Foundation took over control of the EOS ecosystem from the original developer, Block.one. Representing the EOS community, the foundation aims to support the network through various initiatives and improvements.
*This is not investment advice.