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
U.S. 30-year Treasury yield rises to 4.68%
EVM-compatible blockchain network Monad launches testnet
Tether announces upcoming investment in stablecoin company Quantoz Payments