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.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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