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This Altcoin Releases New Major Update, According to Official Announcement

EOS announced the new update to its tokenomics.

The following statements were included as innovations on the official website:

  • “High-Yield Staking Rewards: Increase your returns by staking with accumulated APY and let your returns grow over time.
  • Extended Lockup Period: The unstaking period has been extended from 4 days to 21 days, increasing both the stability and security of the ecosystem.
  • Simplified Participation: We have removed the previous voting requirements to elect 21 block producers or a proxy and introduced a user-friendly interface for a seamless staking experience.
  • Improved Block Producer Incentives: Block Producers now receive additional network-generated fees in addition to block rewards, further incentivizing their efforts as network demand increases.”

However, on the EOS official website, July 8, 2024 was shown as the date when 250 million EOS tokens will begin to flow into staking pools. The price of the token showed little reaction to the development. EOS, a very old altcoin, has gained approximately 2% in value in the last 24 hours and has a market value of $ 871 million at the time of writing.

*This is not investment advice.

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