In order to reward early stakers with better tokenomics and more extended lock-up periods, the EOS Network has launched a 250 million EOS staking incentives scheme.
As part of its revised tokenomics plan, the EOS Network has decided to reward users of its staking service with roughly $127 million worth of EOS tokens.
A daily allocation of about 85,600 EOS tokens, with an initial accessible APY above 60%, will be given to stakeholders. Staker tokens, employed as an accounting system, will be exchanged for staked EOS.
According to the EOS Network developers, when more users stake or unstake their tokens, the rate will “continuously change.” EOS Network also disclosed that the staking lock up period “has increased from four to 21 days.”
As network demand grows, infrastructure providers will be further incentivized as EOS Block Producers receive network-generated fees “on top of their block reward income.”
 “The updated EOS staking program is designed to provide sustainable rewards for participants and support ecosystem growth,” the EOS Network team said in a blog announcement.
According to EOS Network Foundation CEO Yves La Rose, who announced earlier in May, the community approved a plan to burn extra tokens and cap the supply of EOS at 2.1 billion.
A fixed supply restriction will be established in place of the initial 10 billion tokens, thus burning approximately 80% of the entire EOS supply, mostly from future emissions.
Relatively unknown before its historic $4 billion initial coin offering (ICO) in 2017, EOS was founded by Block.one in 2017. However, later on, disputes emerged between the foundation and Block.one, with accusations that Block.one had failed to deposit ICO proceeds back into the EOS Network.
