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2020-02-25

EOS inflation reduced from 5% to 1%. What's the next step?

eos-inflation

EOS Nation had recently made an on-chain proposal to reduce EOS mainnet inflation from 5% to 1%. The multisig has just been approved by 15+ active Block Producers, and from now on 4% more of the generated EOS supply will no longer be collected on the eosio.saving account.

"This long-time-change change was one of the most votes for referendum by token-holders and was a nearly one sided discussion in support of the reduction anecdotally in community channels." - EOS New York

Before this moment 5% of EOS tokens were produced every year. 1% of this was distributed on a daily basis to standby and active Block Producers, while the remaining 4% was accumulated in the eosio.saving account. This reduction completely eliminated the accumulation towards eosio.saving, while the payment of Block producers remained unchanged.

According to Yves La Rose, CEO of EOS Nation, the next step will be to burn all the EOS that have been accumulated so far on eosio.saving since the last time they were burned. We are talking about 34M of EOS, worth about $140M.

The proposal to burn these tokens has already been submitted by EOS Nation and has been approved by 13/15 active BPs needed for it to be executed.


New update: Tokens have been burned!

The latest multisig proposal to burn all the tokens of eosio.saving has already been approved by Block Producers and has been executed. All 34M+ EOS tokens have been permanently burned reducing the total EOS supply.

You can see the transaction on Block Explorer: EOSX

eos-tokens-burned


Sources:

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