The proposal to cap EOS emissions at 2.1 billion has been approved, the CEO of the EOS Network Foundation announced
The EOS Network Foundation, led by CEO Yves La Rose, has approved a proposal to limit the issuance of EOS tokens to 2.1 billion and burn the excess. The move will eliminate nearly 80% of EOS's total issuance, reducing the planned maximum from 10 billion to 2.1 billion tokens.
The fund, which succeeded Block.one in 2021, received approval for this fixed issuance limit from at least 15 of the 21 EOS block validators. Implementation is expected over the next few months. There are currently 1.15 billion EOS tokens in circulation, representing 54% of the planned supply.
An additional 950 million EOS tokens will be issued to support the growth and operation of the ecosystem, including rewarding stakers and block validators. The EOS Network Foundation, established in August 2021, is dedicated to supporting the EOS community and has disputes with Block.one over the reinvestment of ICO funds.
Originally developed by Block.one, EOS gained attention for its $4 billion ICO between 2017 and 2018. The Foundation continues to move the network forward with new initiatives under LaRose's leadership.
According to theblock.co
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