The EOS Network has announced a $127 million staking rewards program to incentivize early stakers under its new tokenomics and extended lock-up periods. Starting now, around 85,600 EOS tokens will be distributed daily, with an initial APY of over 60%.
Established in 2017 by Block.one, EOS gained prominence with a record-breaking $4 billion ICO. However, conflicts later arose between the foundation and Block.one over the reinvestment of ICO funds.
A standout feature of the updated staking program is the increase in the lock-up period from four to 21 days, providing higher rewards for stakers. The program aims to support ecosystem growth by offering sustainable rewards.
In May, community approval was secured to cap EOS supply at 2.1 billion tokens, reducing the total supply by nearly 80%. This strategic move is expected to enhance long-term stability and value.
