Evmos proposes to destroy 132.3 million EVMOS from incentive pool accounts
According to Layer1 blockchain Evmos core team, a new token destruction mechanism has been proposed, which includes:Destroying all Cosmos transaction fees based on the announcement of the abandonment of Cosmos transaction format;Engraving BASEFEE of EIP-1559 100% to EVMOS Revenue (also known as CSR) module for unregistered contracts;Destroying about 132.3 million EVMOS tokens from the incentive pool account (the second largest account);Abandoning the incentive module to reduce blockchain storage;Setting the allocation of the incentive pool account (currently 33.3%) to zero (0%) to prevent further token accumulation;Reducing token issuance (inflation) by 1/3 since the token allocation for incentives is no longer needed, from about 26.7% to about 17.8%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BoxBet Secures Strategic Funds To Build Future of iGaming
FTX to Begin Paying Creditors and Customers by Early 2025
Big Win for Crypto: Judge Tosed Out SEC broker-dealer rule
Scam Sniffer: Crypto-Malware "Meeten" Renamed to "Meetio", Reminding Community to Be Vigilant