Blockchain
EOS Tokenomics Revamp: Significant Changes Ahead
The EOS blockchain is poised for a transformative upgrade with significant proposed changes to its tokenomics model. According to eosnetwork.com, the EOS System Contracts v3.4.0 release will introduce a fixed supply model along with other crucial updates. These changes aim to stabilize and predictably grow the EOS token economy, with the first modifications expected to take effect following approval by at least 15 of the 21 EOS block producers (BPs).
Key Proposed Changes
The new tokenomics model includes several foundational updates:
Fixed Token Supply: Capping the total EOS tokens at 2.1 billion.
Token Vesting Schedules: Introducing vesting schedules for network custodians, including EOS Block Producers, Staking Rewards, the EOS Network Foundation (ENF), and EOS Labs.
Immediate Token Liquidity: Allocating funds for purchasing 35 million EOS in RAM and 315 million EOS for RAM market-making.
These updates set the stage for further enhancements to the Resource Exchange (REX), including EOS staking rewards and a more flexible distribution of system fees.
Immediate Token Liquidity
Upon the successful passage of the multi-signature (MSIG) proposal, several tokens will become immediately liquid:
- 315 million EOS for market-making and liquidity provisioning across centralized exchanges and DeFi platforms.
- 35 million EOS for purchasing RAM from the system Bancor pool to support EOS ecosystem initiatives.
- 15 million EOS for public goods funding aimed at middleware development to improve the EOS Network’s usability.
Strategic RAM Purchase
A notable aspect of the new tokenomics model is the strategic management of EOS RAM. If the MSIG is approved, 35 million EOS will be used to purchase RAM, supporting initiatives and establishing WRAM (wrapped RAM) liquidity on various exchanges to enhance market depth and accessibility.
Upcoming in Part II: Transition to REX 2.0
The second part of this series will explore the proposed transition to REX 2.0, expected to bring high-yield staking rewards for EOS token holders. This transition is contingent on the successful implementation of the changes introduced in the first MSIG for the System Contracts v3.4.0. Enhancements to REX will include:
- Diverting system fees to Block Producers (BPs).
- Enabling staking rewards to drip into REX.
- Extending the REX staking lockup period from 4 days to 21 days.
Testing and Approval
The proposed changes have undergone a BlockSec security audit, with no critical issues found. Deployed on Kylin and Jungle4 testnets, the new system actions and tokenomics mechanics have been thoroughly tested. Community members and block producers are encouraged to interact with these new functions to ensure smooth integration.
Acknowledging Contributors
Special thanks are extended to the contributors who played crucial roles in this release, underscoring the community-driven approach of EOS blockchain development.
What’s Next?
Anticipate further in-depth exploration in Part II of this series, “Transforming REX Dynamics.” The next installment will focus on optimizing and enhancing the functionality and flexibility of REX within the EOS ecosystem, promising more robust and predictable returns for participants.
Source: blockchain.news
The post EOS Tokenomics Revamp: Significant Changes Ahead appeared first on HIPTHER Alerts.
The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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