EOS Network has announced a significant update to its blockchain platform with a new 250 million EOS staking rewards program.
This move, disclosed on July 8, represents a major shift in the network’s tokenomics strategy.
It’s a New Era For EOS Staking.
🔐 250,000,000+ $EOS allocated.
📈 Higher APR.
⌛️ Time Sensitive Rewards.Coming Soon. 🔔👀 https://t.co/k8gTI8b80j
— EOS Network Foundation (@EOSNetworkFDN) July 8, 2024
The initiative aims to incentivize participation by distributing 85,600 EOS daily to stakers, with an initial annual percentage yield (APY) exceeding 60%.
Over the next year, this program will distribute over 31 million EOS tokens in rewards, reflecting the network’s dedication to expanding its community.
Key changes in the updated program include extending the lock-up period from four days to 21 days, enhancing the staking experience.
Additionally, EOS Block Producers (BPs) will now receive network-generated fees alongside their block reward income, offering more incentives for infrastructure providers as network activity increases.
This revamped staking program is designed to provide sustainable rewards and promote network growth, marking a significant advancement for EOS Network.
Rumors are heating up around Solana-based memecoin platform Pump.fun, which is said to be prepping a $1 billion token sale at a $4 billion valuation—though the team has yet to confirm any details publicly.
In a surprising shift beyond the education sector, Classover—a company best known for its online learning programs for K-12 students—is diving into digital assets by building a reserve of Solana (SOL).
BlackRock has executed a notable portfolio adjustment, reducing its exposure to Bitcoin while increasing its Ethereum holdings.
Investor excitement around a potential XRP exchange-traded fund is reaching fever pitch, with many now eyeing 2025 as the year the long-awaited approval finally lands.