cryptonews.net
According to a tweet from Tristan DICKINSON, Chief Marketing Officer of the EOS Network Foundation, more than 36 million EOS tokens have been staked since the updated EOS staking program launched on July 8, 2024. The graph presented along with the announcement illustrates the noticeable increase in the amount of staked EOS. For much of the year, the volume of staked EOS remained relatively stable, hovering around 60 million EOS. However, after the introduction of the new staking program, the amount increased sharply.
The updated staking program offers an annual percentage yield (APY) of 50%, which is likely to contribute to increased staking activity. This significant APY incentive is aimed at attracting more participants to the network, increasing its security and overall participation.
This initiative is expected to further stabilize and potentially increase the value of the EOS token by reducing its circulating supply and encouraging long-term investment. The DefiLlama chart shows a sharp increase in EOS staking starting in early July and peaking a few days after the program went live. This visual highlights the direct impact of the staking program on the EOS ecosystem.
Image: CryptoRank