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
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Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
Digital Payment Gateway Market
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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