EOS Network Foundation Limits Total Supply of EOS to 2.1 Billion Units

Yves La Rose, CEO of the EOS Network Foundation, has announced the approval of a major proposal to limit the total supply of EOS to 2.1 billion units.

EOS Network Foundation Approves Proposal to Limit EOS Total Supply at 2.1B Units

EOS Network Foundation, which represents the EOS community, has approved a major proposal to limit the total supply of EOS to 2.1 billion units. This decision follows a community-led initiative where EOS block producers agreed to set a fixed supply limit and burn approximately 80% of excess coins.

According to the proposal, this measure focuses mainly on future issuances, reducing the planned total supply from 10 billion to 2.1 billion coins. The first update is expected to be deployed in the coming months, and the remaining updates will follow.

EOS Network Foundation, Surfacing After Block.one Saga

The EOS Network Foundation, which took control of Block.one in 2021, submitted a multi-signature proposal to limit EOS supply and received approval from at least 15 of the 21 EOS block producers. Yves La Rose, CEO of the EOS Network Foundation, confirmed the consensus in a post on X, highlighting the network’s acceptance of the tokenomics proposal.

The EOS Network Foundation, which represents the EOS community, took control of Block.one in 2021. The Foundation submitted a multi-signature proposal to limit EOS supply and received approval from at least 15 of the 21 EOS block producers. La Rose confirmed the consensus in a post on X, highlighting the network’s acceptance of the tokenomics proposal.

Currently, EOS has a circulating supply of 1.15 billion coins, which represents 54% of the planned total supply. An additional 950 million EOS coins will be minted to support the growth of the ecosystem and activities such as rewarding stakers and block producers.

In his announcement, La Rose detailed these plans and highlighted the EOS Network Foundation’s commitment to the long-term sustainability of the EOS community.

The EOS Network Foundation was founded in August 2021 with the goal of continuing the development of the EOS blockchain network. The foundation is led by Yves La Rose and is tasked with overseeing the use of剩余资金 from the EOS ICO and managing the network’s development roadmap.

EOS initially attracted significant interest during its initial coin offering (ICO) from 2017 to 2018, which raised $4 billion. However, the project faced several challenges, including disputes between the EOS Network Foundation and Block.one over the use of ICO funds.

As previously reported, the foundation claimed that Block.one did not reinvest a significant portion of the ICO proceeds into the EOS network, despite initial commitments. Following this dispute, the EOS Network Foundation has undertaken several initiatives to support the growth of the network and meet the demands of the community.